Search

Invest your spare change, and watch your portfolio grow.

Raiz (which was previously known as Acorns Australia) is just like a digital coin jar. How it works is that you download the Raiz App, then link it to your bank accounts and/or credit cards that you choose. Then, when you make transactions on those accounts that you have chosen, it rounds each transaction up to an amount you have selected, and invests that amount into an investment portfolio (that you have also selected on set up).

The default option is to round up to the nearest dollar, but you do have a choice to change this. So, for example, you spend $4.50 on a coffee on your debit or credit card, it would round it up to $5.00 and the 50c difference is invested on your behalf. Each time $5.00 is accumulated in your investment account, it is invested into the portfolio that you selected when you signed up.


This is how your spare change is accumulating into a growing investment portfolio!


Raiz is free to download, but there is monthly fees once your balance is more than $0. A monthly fee of $1.25 is charged for accounts with a balance of under $5,000 and 0.275% annually for accounts with a balance of $5,000 and over.


It’s also really flexible. You can deposit additional funds at any time to increase your investments, and also make unlimited withdrawals at any time without incurring any fees. There are also no fees for switching investment options.


Overall it is a fantastic way to start an investment portfolio, and automatically contribute to it without you really even noticing it.


What are the risks


Of course there are the standard investment risks as the portfolio’s are invested into options that are subject to market movement.


It’s a great way to get started, but once your balance builds, there may be more cost-effective options to investing.


Check the Raiz website for more information

https://raizinvest.com.au/



DISCLAIMER

The Next Step Financial Group Pty Ltd, ABN 50 163 965 946 is an Authorised Representative of Count Financial Limited. ‘Count’ and Count Wealth Accountants are trading names of Count Financial Limited ABN 19 001 974 625 Australian Financial Services Licence Holder Number 227232 a wholly-owned, non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124. Count is a professional Partner of the Financial Planning Association of Australia Limited. Count advisers are authorised representatives of Count.


General Advice Warning


This document contains general advice. It does not take account of your objectives, financial situation or needs. You should consider talking to a Financial Adviser before making a financial decision.

© 2021 by The Next Step Financial Group Pty Ltd.  

Our Financial Services Guide (FSG) can be accessed here

The Next Step Financial Group Pty Ltd ABN 50 163 965 946 is an Authorised Representative of Count Financial Limited ABN 19 001 974 625 AFSL No. 227232 which is 85% owned by CountPlus Limited ABN 111 26 990 832 (CountPlus) of Level 8, 1 Chifley Square, Sydney 2000 NSW and 15% owned by Count Member Firm Pty Ltd ACN 633 983 490 of Level 8, 1 Chifley Square, Sydney 2000 NSW. CountPlus is listed on the Australian Stock Exchange. Count Member Firm Pty Ltd is owned by Count Member Firm DT Pty Ltd ACN 633 956 073 which holds the assets under a discretionary trust for certain beneficiaries including potentially some corporate authorised representatives of Count Financial Ltd. The information on this web page is not advice and is intended to provide general information only. It does not account of your individual needs, objectives, or personal circumstances.