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OpenInvest partners with Simon Wu venture

OpenInvest Simon Wu

SWU Group and OpenInvest have partnered to develop a digital investment advice platform to reduce the gap between modern and traditional advice methods.

OpenInvest has partnered with a Simon Wu-led advice group to provide investors with access to investment portfolios offered via its digital investment platform.

SWU Online Invest, founded and chaired by Wu, has launched SWU Online Invest and will provide its clients with access to four investment portfolios managed by the SWU team off the back of the OpenInvest platform.

SWU Online Invest lead portfolio manager Jonathan Wu, who along with his father Simon, hosts a TV and radio program pitched at the Chinese-Australian community, explained the new digital offering extends the ability of the firm to reach more investors.

“A large proportion of our listeners and viewers are ‘digital natives’ and therefore, for them, this is a simple and easy way to obtain professional portfolio management to help them build their wealth. I’m also excited about being able to communicate our views on sensible investing and financial well-being more broadly via the SWU Online Invest app,” WU said.

Simon Wu noted the digital outlet will provide a solution to increase access to advice and investments that had been reduced or made too expensive by the increasing number of regulatory obligations imposed on financial advisers in recent years.

“We needed a digital solution to reach everybody else – those wanting to obtain professional investing expertise from a trusted provider, for a lower cost, via a few simple clicks,” he said.

SWU Online Invest investment committee member Paul Harding-Davis noted the platform would also add some quality to the crop of investing apps that have appeared in recent years.

“The past two years has seen a massive increase in the number of people investing in the stock market via cheap trading apps. Unfortunately, it’s extremely difficult to invest sensibly that way. History shows that the only smart way to invest is via professionally managed, diversified portfolios and that’s what SWU Online Invest offers,” Harding-Davis said.

OpenInvest chief executive Andrew Varlamos said the Melbourne-based firm was excited to reach a broader audience through the partnership.

“The SWU Group has a tremendous reputation in the financial advice industry and high levels of engagement and trust with their large audience drawn from across the Chinese-Australian community. We’re proud to be playing our role in underpinning the SWU Online Invest solution,” Varlamos said.

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