SOME OF THE BIGGER ROBO ADVISERS IN AUSTRALIA ARE:

● Raiz (formerly Acorns): Users link up their bank accounts and credit cards, and it rounds up all their transactions to the nearest dollar and invests this amount into an ETF portfolio.

● Stockspot: It offers five ETF portfolios and each investor is set up with a Macquarie Bank cash management account. ETFs are traded under the individual’s own Holder Identifier Number in a managed discretionary account (MDA). A portfolio can be set up from $2000.

● Clover: This automated savings and investing platform uses a passive and diversified investing model based on modern portfolio theory. The portfolios use low-cost ETFs to optimise returns.

● InvestSmart: It’s an online broker/adviser offering tools and resources for free or a subscription. It offers portfolio management capabilities, research and advice and managed portfolios across a range of risk profiles.

● Life Sherpa: Aimed at younger investors, it covers everything from budgeting and developing good habits to investing and savings plans.

● Money Brilliant: This allows you to monitor and track all your bank accounts and investments plus provides access to more than 200 financial institutions. We like their bill watch and expense tracker and the ability to customise tools.

● Pocketbook: Consolidates all your banking and credit data in one place and then categorises spending for easy budgeting. It also sends out alerts when bank fees are charged or when you are reaching your spending limit.

● Retirement Essentials: Calculates and helps retirees apply for the age pension and provides alerts for any changes in rules. It’s comprehensive and easy to use.