InvestNow’s Anthony Edmonds and Mike Heath.
InvestNow founder Anthony Edmonds says the smaller minimum investment of $250 is popular with investors, and low annual management fees also appeal.
“We get lots of people who initially open an account just to look around InvestNow,” Edmonds said. “They then invest $250 to see how InvestNow works, and after that they will ramp up their investment and start building their portfolio.”
Investors using the platform can access funds run by global fund managers such as Vanguard, as well as a slew of major local fund managers – AMP Capital, add more fund options and performance tracking over time and to move to open beta, where wannabe investors will be able to sign up straight from the website.
The company’s founders say they want to encourage people to become more financially literate and give them the gratification of being able to invest the
$20 they might have otherwise spent on brunch.
InvestNow general manager Mike
Heath says it’s not just young people using the platform: retired chief executives, grandparents wanting to save for their grandchildren’s education and large