Dilip Sankarreddy

QuietGrowth, the Automated Investment Manager (AIM) has introduced a new feature that allows clients to modify their personal circumstances, receive a new Statement of Advice, and change their portfolio’s risk tolerance at no extra charge.

The new feature, together with the ‘multiple portfolios’ feature introduced last month, provides investors, and potentially financial advisory firms, with an efficient and flexible way to manage changing investment risk exposure on an ongoing basis. Clients are able to update the risk tolerance of multiple risk portfolios once in a month.

QuietGrowth CEO, Dilip Sankarreddy, said: “Because QuietGrowth is providing an online updated Statement of Advice to its clients for free, it will be simpler and more cost-effective for the client to regularly update their Personal Circumstances and adopt an Investment Program that is in line with their evolving financial situation and goals.”

Krupakara Chinnasani, Director of QuietGrowth Australia, said: “We’re are already the most advanced AIM in Australia and with enhancements like this we’re striving to remain the most advanced. We’re committed to consistently bringing new features to the platform and helping investors manage their risk exposure in a simple, efficient and cost effective way.”

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Dilip Sankarreddy

Changes to superannuation, particularly the $500,000 life-time cap on after-tax contributions to superannuation, have left wealthy investors searching for a new cost-effective structure in which to accumulate wealth, and automated investment management solutions could be the answer.

QuietGrowth CEO, Dilip Sankarreddy, said: “Millennials have been early adopters of automated investing solutions around the world, including Australia. However, we are noticing that affluent clients are also experimenting with these services. Now with proposed changes to superannuation, wealthy individuals in Australia are on the lookout for alternative structures in which to continue to accumulate wealth for the long-term and, with its low costs, diversified and transparent approach to investing, we believe that our automated investing service is ideally placed to provide wealthy clients with the right solution.

“As superannuation no longer provides high net worth individuals with an unlimited tax efficient wealth accumulation vehicle, low-cost investing will gain more traction,” he said.

Krupakara Chinnasani, Director of QuietGrowth Australia, said: “Traditional players are under pressure to justify the fees they charge as automated investment advisers gain acceptance. We at QuietGrowth are charging a fraction of what traditional service providers are charging. Our fees range from 0.4% to 0.6% of the portfolio value, and this includes the trading costs. We are observing that a sizeable section of high net worth individuals with significant investable assets are savvy investors, and are looking out for low-cost solutions such as ours.”

QuietGrowth notes that this is in line with what the business consultancy Accenture had revealed earlier this year that in the US nearly 15% of clients in certain firms have invested at least US$1 million in automated portfolios.

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Dilip Sankarreddy

Automated investment adviser QuietGrowth has added a multiple-risk portfolio feature to its online platform and also launched a mobile app for clients.

QuietGrowth CEO, Dilip Sankarreddy, said: “Market feedback and best practice among automated investment advisers globally has shown that investors prefer to have multiple risk portfolios.

“In reality, investors don’t apply the same set of risk-return expectations to their entire pool of savings. Instead, they allocate their savings towards different goals or objectives, with different risk-return expectations. Saving for retirement, your child’s education, a house or a holiday are all very different objectives. It makes sense, therefore, that investors should be able to choose portfolios for different levels of risk,” said Sankarreddy.

QuietGrowth has introduced the ability for investors to allocate portions of their savings towards portoflios with different risk levels. Investors using the QuietGrowth platform will be able to add portfolios with risk tolerances that are equal or lower than what is advised by QuietGrowth in its Statement of Advice. The user-friendly QuietGrowth interface, which also now includes a mobile app, shows investors the performance and other details for each of the portfolios with varying risks that a client has.

“This feature demonstrates QuietGrowth’s efforts to provide investors and financial advisers a meaningful goal-based investment platform with the flexibility to tailor investment portfolio towards particular needs,” said Sankarreddy.

In the past month QuietGrowth has also launched a mobile application, making it one of the first Australian based automated investment advisers to offer clients the benefit of accessing their portfolios on their mobile phones.

“We had strong feedback from our client base that a mobile application was high on the list of priorities, investors want access to their portfolios when and where it suits them, and we’re delighted to be leading the industry in terms of our mobile application for iOS and Android phones,” said Krupakar Chinnasani, Director of QuietGrowth.

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