Stockspot, Australia’s first and largest robo-advisor, has reached a new milestone, managing over $800 million for its 14,000 clients as at July 2024.
Founder and CEO of Stockspot, Chris Brycki, reflected on this achievement, stating, "We’re humbled to have the opportunity to help thousands of Australians invest their money and grow their savings. This new milestone is a significant vote of confidence in Stockspot by our loyal customers who have entrusted us with their savings."
The growth in funds under management is attributed to the rise in new kids’ accounts, regular investing plans from existing clients, and growing interest in sustainable portfolios.
Stockspot's success highlights the growing demand for robo-advice in Australia, as investors seek low-cost, automated investment solutions.
Traditional financial advice is becoming less accessible in Australia due to its prohibitively high cost and decrease in advisers over the past few years.
Despite this, Australians need advice more than ever, and they are seeking financial advice in increasing numbers.
This is where Stockspot offers a convenient and affordable alternative. Using a mix of algorithms and analysis from its experts working behind the scenes, Stockspot creates personalised investment portfolios for customers and automatically manages and rebalances their investments.
Low-cost exchange traded funds (ETFs) which make up the portfolios, have experienced exponential growth in recent years - reaching $208b in Australian alone, as at July 2024. Since its inception, Stockspot has remained independent from the ETFs it recommends, ensuring it acts solely in the best interest of its clients.
Mr. Brycki also credited the strong performance of Stockspot’s portfolios, which have outperformed 98% of equivalent diversified funds over the past five years, to this commitment to independence and client-first approach.
Chris Brycki, CEO & Founder of Stockspot, is available for further comments.
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About Stockspot
Stockspot is Australia’s leading digital investment adviser and wealth management platform (robo advisor). Stockspot builds and manages professional portfolios tailored to an individual’s personal goals, cash-flow needs and risk profile. Stockspot is helping more Australians manage their money smarter with its transparent, low-fee online investment service.
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