The roboadvice-driven advised portfolios platform guides investors through a process asking about their goals, investment time horizon and tolerance for risk. Investors are also asked for their ESG preferences.
It then designs an appropriate portfolio of ETFs and managed funds, with the option to mix in additional funds.
When people have identified targets that don’t align with their risk profile, the system explains why they are being recommended a different option.
Portfolios are rebalanced quarterly according to their target investment allocation. Investment are in NZ dollars and dividends are reinvested. People can invest in their advised portfolio in the same way they would buy other investments on Sharesies, and can make one deposit spread across the range of investments.
The advised portfolios have been designed by in-house Sharesies investment analysts but there is no access to human advisers.
Sharesies said high-growth investing had proved the most popular invsetment approach so far and 24 percent of investors had chosen ESG targets. Just over 10 percent had opted to mix in some managed funds. The most common age range for investors was 45 to 54 and some had been depositing $50,000 lump sums.
Sharesies said it was already thinking about how it could work with advisers in future and how advisers might collaborate with their clients on Sharesies.
Sharesies has a memorandum of understanding with Wealthpoint with a view to advisers using it as a tool to support conversations they were having.
Fees are the same as for the wider Sharesies platform, with an additional 20 basis points a year for the advised portfolio offering. Rebalancing is done without fees.
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