Financial Planning, Technology

AZ Sestante launches digital facility

AZ Sestante OpenInvest

A new digital investing solution has been released to the market to provide more young Australians with professional investment services.

Wealth manager AZ Sestante has launched a digital investing solution, in conjunction with platform provider OpenInvest, to help close the advice gap being faced by many Australians.

Six portfolios will be made available to individuals via the Sestante Invest facility, comprising the Sestante Dynamic Conservative, Sestante Dynamic Balanced, Sestante Dynamic Aggressive, Sestante ESG Focus Conservative, Sestante ESG Focus Balanced and Sestante ESG Focus Aggressive options.

Financial literacy material and well-being content will be provided to clients as part of the solution, as well as regular updates informing customers of any portfolio rebalancing decisions made and the reasons behind them.

According to AZ Sestante head of distribution and implemented consulting Andrew Davies, the initiative was launched to provide people who cannot afford personal financial advice with access to the professional investment services they need.

“Now, with the launch today of our new digital solution, Sestante Invest, our client firms are able to help a much broader audience as the minimum investment to get started is only $25,000,” Davies noted.

OpenInvest chief executive Andrew Varlamos said his firm was pleased to be working with another fund manager, in AZ Sestante, to help clients address important business issues common to the industry.

“With an estimated $1 trillion in wealth moving between generations over the next decade, it’s logical for progressive wealth management firms to be reaching out to help the next generation now, not after they have built their wealth to what a firm might traditionally have regarded as their minimum threshold,” Varlamos noted.

To this end, he acknowledged wealth managers such as AZ Sestante were keen to provide young investors with a professionally managed portfolio and to help them improve their investing knowledge.

The announcement means OpenInvest now has 29 partner firm relationships and has seen 18 of these go live in 2022.

In May, the organisation joined with Market Managers to launch a similar initiative.

Copyright © SMS Magazine 2024

ABN 43 564 725 109

Benchmark Media

Site design Red Cloud Digital