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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Dilip Sankarreddy

Afiniation (The FinTech Network) is pleased to announce the names of a further 12 FinTech companies that will be presenting at its Melbourne Showcase on 14 April, 2016.

Jillian Upton, co-founder of Afiniation, said: “The Australian and New Zealand FinTech community is bringing world-class solutions and innovations to the financial services industry and we’re delighted to be showcasing some of this exceptional talent at our Melbourne Showcase.”

“The perception is that FinTech is something very niche and confined to areas like peer-to-peer lending and robo-advice. The reality is that FinTech has the potential to touch every aspect of our daily lives. Over 200 FinTech companies in Australia and New Zealand have already joined Afiniation, and the number of FinTech opportunities out there is limited only by the imagination of what is possible, something that will be made clear at the Melbourne Showcase,” said Upton.

The 12 additional innovators presenting are:

1. Proviso
2. Macrovue
3. Plencore Wealth
4. Fincast
5. Swipe
6. QuietGrowth
7. Financial Choice
8. Coredination
9. BigFuture
10. CXI Software
11. TradeTrust
12. Australian Corporate Bond Company

Quotes from the Innovators:

Dilip Sankarreddy, QuietGrowth founder & CEO – “QuietGrowth is delighted to be part of the Afiniation Showcase Event. The idea of regularly showcasing FinTech innovations in this way and supporting our efforts to grow is invaluable. QuietGrowth will demonstrate how our online investment management solution adds an important new service to the asset management industry.”

Luke Howes, Proviso co-founder & CEO – “We’re excited to present at the Afiniation Showcase in April. We consider this type of event crucial in helping FinTech companies like Proviso gain wider exposure within the financial services industry. While we already have over 170 lender and broker clients in Australia and New Zealand, we’re only at the beginning of the influence and innovation that is possible in loan origination. We’ve been approached by banks and other FinTech startups for other applications of our technology and we look forward to the Afiniation Showcase helping accelerate more of these opportunities for collaboration.”

Andrew Connors, Fincast MD & co-founder – “Fincast is thrilled at being included in the demo line up for the Afiniation show case. It’s perfect timing as it coincides with the launch of one of our new applications, our Adviser module. Demonstration days such as the Afiniation Showcase are a fantastic opportunity to talk about the unique aspects of our award winning applications.”

Donald Hellyer, BigFuture co-founder & CEO – “BigFuture is excited to be selected to present at the Afiniation Showcase.  We have just released Version 2 of BigFuture.com.au and Afiniation offers us the opportunity to showcase our new capabilities. BigFuture.com.au has stepped up markedly in providing financial institutions a way to develop digital relationships with their clients.  I really enjoy the Afiniation symposiums, seeing what is new in the market and catching up with colleagues as we face the challenges and excitement of FinTech.”

David Phillips, Plencore Wealth Director & CEO – “After 10 years in the making, Plencore Wealth is unveiling a new consumer category for the world market –  Personal Financial Mapping (modelling). People need tools to understand their total financial situation and examine how one future change in lifestyle, assets, or any financial variable will affect everything, as all are interconnected. All existing products treat individuals as investment portfolios and use extrapolated results. Plencore’s completed underlying Wealth Mapper Engine offers extraordinary benefits of engagement, education and collaboration to advisory and institutional partners, with the first online version presented as its consumer face – Financial Mappers.” 

The presenters announced last week were:

1. Bitcoin Group
2. SuiteBox
3. Ignition Wealth
4. Smartbit
5. Kikka Capital
6. Pin Payments
7. Boomeringo
8. Billsumo
9. Estate Baron
10. ThunderMaps
11. Impos
12. Tappr
13. Simply Wall St

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