Enjoy Life and Remove the Admin: Choosing the Right Investment Platform for You

Investing, whether via your superannuation or in other entities such as trusts, companies or your own name – it is a journey to secure your financial future and fund your desired lifestyle. The prospect of seeing your money grow and work for you is undeniably appealing. However, amidst the excitement of investing, there’s often a less glamorous aspect that many investors grapple with – the administrative burden.

The challenge

Indeed, managing investments can be a time-consuming and, if mishandled, costly endeavour. From tracking performance and transactions, to collecting dividend statements, as well as generating statements, the administrative tasks associated with investments can quickly add up. I have seen it take hours to determine purchase price information for accountants, when selling assets.

The solution

Enter investment platforms—a solution designed to streamline the investment process and alleviate the administrative burden. Investment platforms also allow you to see your balance in an instant and obtain performance as well as available cash.

Think of an investment platform as a supermarket of investments, offering a wide array of options from various brands, all conveniently housed under one roof.

Here’s why investment platforms are the go-to solution for many investors:

1. Diverse Investment Options: Just as a supermarket stocks a variety of products from different brands, investment platforms offer access to a diverse range of investment options. Whether your portfolio has shares, bonds, managed funds, or ETFs, you’ll find them all on the platform, catering to investors of all preferences and risk tolerances.
2. Ease of Transactions: Much like how you can buy groceries and exchange items at a supermarket, investment platforms allows your advisor to seamlessly buy and sell investments with ease.
3. Comprehensive Statements: Just as a supermarket provides receipts detailing your purchases, investment platforms furnish statements that offer a comprehensive overview of your investment holdings, transactions, and performance. These statements serve as valuable tools for tracking your progress.
4. Convenience of Online Access: Unlike traditional brick-and-mortar supermarkets, investment platforms offer the convenience of online access, allowing you to view your investments anytime, anywhere, with just an internet connection.

Which Investment Platform should I use?

But with so many investment platforms to choose from, how do you determine which one is best for you? Here are a few considerations:

1. Cost vs. Features: Some platforms offer low-cost options with their branded investments, while others provide a wide range of features and investment options at a slightly higher cost.
   • The lower cost options are appealing. I recall as a child my parents going to a ‘one brand supermarket’. If the shop didn’t have what you needed, it was a hassle then travelling to another supermarket to make a purchase. This is similar to investment platforms, if they only have their own investments. If the platform’s investments do not perform, investors can only choose another one of their investments – which too may be underperforming. Otherwise, it is much harder than moving to another ‘supermarket’ or investment platform.
   • Wider range – may be appealing too, as it is easier for advisor to change between various fund managers rather than being locked into one brand. The wider range generally does come with a higher cost.
2. Flexibility: Look for platforms that offer flexibility, allowing you to tailor your investment experience to your specific needs. For example, some of the higher featured investment platforms also offer lower-cost versions of their full featured product. This is great for investors who don’t require all the bells and whistles.

Ultimately, the best investment platform for you will depend on your individual preferences, goals, and financial situation. We can help you navigate the myriad options available and recommend the most suitable platform for your needs. We also provide ongoing reviews to ensure that your chosen platform continues to meet your needs and remains competitive in the market.

Next steps

Don’t let the administrative burden of investing weigh you down. Contact us today to learn more about investment platforms and how they can streamline your investment experience, allowing you to focus on what matters most achieving your investment goals and securing your financial future.

Disclaimer

This information is general advice. We have not considered your objectives, personal or financial circumstances. You should consider the appropriateness of the advice for your circumstances before making any decision. You should obtain and consider the relevant Product Disclosure Statement and seek the assistance of an authorised financial adviser before making any decision regarding any products or strategies mentioned in this communication.

Past performance is not an indication of future performance.

This presentation has been prepared and presented by Roger Perrett, Freshwater Wealth Management Pty Ltd CAR no.1307016, Alliance Wealth Pty Ltd AFSL No.449221. This information cannot be used or copied in whole or part without our express written consent.

While every effort has been made to ensure the accuracy of the information, it is not guaranteed. It is based on our understanding of regulations and laws as at the publication date. As these are subject to change you should talk to a professional adviser for the most up-to-date information.

To the maximum extent permitted by law, no person including Alliance Wealth Pty Ltd nor its related entities, employees or representatives accepts responsibility for any loss suffered by any person arising from reliance on this information.