Research provider Canstar’s new service, WealthBricks, is looking to capture the attention of self-directed investors and SMSFs to benefit from its product matching algorithm that aims to save time when finding relevant products and investment ideas.
WealthBricks, launched today, aims to help users discover investment-related products and fintech solutions to grow their wealth.
It will essentially act as Australia’s first online supermarket where self-directed investors can discover more than 500 solutions across 20 investment service categories including SMSF solutions, SMSF savings accounts, SMSF property investment and portfolio management.
“We’re targeting those SMSF trustees that play an active role in how their money is invested and the administration of their fund,” Canstar general manager wealth and WealthBricks creator Josh Callaghan told selfmanagedsuper.
“In a survey we did on website for our term deposit page 12 months ago, we found that of the 34 per cent of respondents that had SMSFs, 69 per cent of them identified as self-directed who decide and execute their own investments, while a further 20 per cent were partly self-directed, so managing some parts of their portfolio with other parts managed by their planner or adviser.”
From an industry perspective, WealthBricks provides both product providers and fintechs unprecedented access to engaged investors that have contextualised their search based on their areas of interest.
Callaghan said there was a demonstrated appetite for a range of self-directed financial services in Australia.
“At the moment in Australia we are just starting to see a significant shift in consumer expectations – investors know what they want but the nature of the fast-paced and highly competitive start-up industry means that it’s difficult for investors to source the solutions available.
“WeallthBricks provides that source.”
Callaghan used an emerging peer-to-peer lending platform as an example.
“RateSetter launched to Australian retail investors less than two years ago and has funded more than $53 million of loans solely from those retail investors,” he said.