Brendan Malone

speaker

224 appearances 1 recordings 1 series first heard Nov 2020 last heard Nov 2020

Brendan Malone’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · How to invest with just $5 (micro-investing in Australia) · 2 Nov 2020 podcast

And as I said, it's a savings tool or a savings platform, but it breaks down the barriers for individuals to get into the stock market.

And that's when the micro investing side comes in.

So to me, micro investing creates the ability to get into the market through the Raise platform, but also have a diversified portfolio.

So we offer seven different portfolios here in Australia.

Each one of those are made up with anywhere from seven to nine ETFs.

Or if you're in the Sapphire portfolio, there's an exposure to actually Bitcoin as well.

Yeah, fees definitely.

And we talk about the Royal Commission in the finance industry over the last 18 months.

Fees are important.

It's the transparency that we try to achieve here.

I think we have achieved here in Australia is you download the app from the App Store or the Google Play Store here in Australia.

You sign up and you register.

Once at the end of each month, depending on your account balance, so you might have $10 or $100 in your account at the end of the month.

and we will charge you what we call a subscription fee.

So you'll pay $2.50 for the month, and what that means is you can deposit, withdraw, but also switch investments across the different seven portfolios as many times as you like in that 30, 31-day period, but you're still only charged a subscription fee.

The caveat to that is if your account balance becomes over $10,000, then we charge what we call a funds under management or account fee, which is the equivalent of 27.5 basis points per annum, which is charged monthly.

And then that FUM or the account fee comes out of your raise balance.

Whereas the $2.50 subscription fee for under $10,000 comes out of your actual bank account.

Yes.

Well, normal sort of funds under management model, yes.

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