Invest
Young investors focusing on the future: Robo-adviser
Young Aussies using robo-advisers prioritise long-term saving and investment goals over weddings and holidays, new research has found.
Young investors focusing on the future: Robo-adviser
Young Aussies using robo-advisers prioritise long-term saving and investment goals over weddings and holidays, new research has found.
According to a customer insights study from automated investment service Six Park, 36.5 per cent of its clients are using the service to boost wealth outside of super while 28.6 per cent use it to grow their retirement savings.
Both these goals scored higher than saving for property, a wedding or a holiday, and Australians under the age of 45 were most likely to be focusing on long-term savings goals.
“It’s very encouraging to see younger people be more engaged with their long-term savings activities, especially in the 18-24 age bracket,” Six Park chief executive Pat Garrett said.
“It’s no surprise that the younger demographic is embracing technology in financial services, and these results demonstrate that these clients understand that investing is not about getting rich quick or timing the market – it’s about creating wealth over time through intelligent investment diversification and keeping fees low.”
Continuing, he suggested concerns around fees, transparency and returns are likely heightened by revelations made the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
Across all age groups, prospective returns (23.3 per cent), volatility (16.7 per cent), trust and transparency (13.3 per cent), and trouble investing in property (13.3 per cent) were the main concerns.
Women were most likely to be concerned about property investment in the near-term (25 per cent), compared with 10 per cent of male respondents.
Men were also more likely to regularly check their portfolios, with more than half checking in weekly or even daily. Half of female respondents check it once a month, on average.
Mr Garrett said this finding aligns with evidence that female investors are more likely to focus on long-term goals.
He elaborated, “An analysis of more than 8 million clients by Fidelity in 2017 suggested that women outperform men when it comes to generating a return on their investment, so this client feedback is not surprising. We’re very pleased to see more women using robo-advice as a smart way to build their saving.”
RELATED ARTICLES
Property
Young buyers poised for a comeback as 5% First Home Guarantee takes effect
In a move set to reshape the Australian property landscape, the government’s revamped First Home Guarantee is poised to open the doors of homeownership to a new generation of young AustraliansRead more
Property
AFG Securities waives settlement fees for first-home buyers, signalling strategic shift
In a strategic move aimed at easing the financial burden on first-home buyers, AFG Securities has announced the elimination of settlement fees on select loans, potentially saving customers up to $699Read more
Property
From trust woes to wealth: Australian agencies' secret to boosting prices
In Australia’s residential market, trust is no longer a nice-to-have—it’s a pricing variable. Persistent distrust of real estate agents is depressing vendor outcomes and inviting regulatory heat, but ...Read more
Property
Reality check for first home buyers: Affordable suburbs with 5% deposit
In a significant development for Australian first home buyers, a new property search tool from Aussie Home Loans is set to transform the way prospective homeowners approach the market. As the Federal ...Read more
Property
Trust as a performance multiplier in Australia's real estate market
In Australia’s A$10–11 trillion housing market, trust is emerging as a crucial factor that sellers and agencies can no longer afford to overlook. Traditionally viewed as a soft metric, trust is now ...Read more
Property
LJ Hooker Lake Macquarie makes a splash with Belmont buy as real estate consolidation looms
LJ Hooker Lake Macquarie’s acquisition of the Belmont office, including its rent roll, is less about shopfronts and more about balance‑sheet resilience. In a market where listings ebb and flow with ...Read more
Property
Twice the demand: the case study behind Melbourne’s first‑home buyer surge
Melbourne has quietly engineered one of Australia’s most consequential housing turnarounds, with first‑home buyer demand running at roughly double the national pace and four of the top five buyer ...Read more
Property
First‑home buyers now anchor Australia’s mortgage growth — but the risk maths is changing
Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government ...Read more
Property
Young buyers poised for a comeback as 5% First Home Guarantee takes effect
In a move set to reshape the Australian property landscape, the government’s revamped First Home Guarantee is poised to open the doors of homeownership to a new generation of young AustraliansRead more
Property
AFG Securities waives settlement fees for first-home buyers, signalling strategic shift
In a strategic move aimed at easing the financial burden on first-home buyers, AFG Securities has announced the elimination of settlement fees on select loans, potentially saving customers up to $699Read more
Property
From trust woes to wealth: Australian agencies' secret to boosting prices
In Australia’s residential market, trust is no longer a nice-to-have—it’s a pricing variable. Persistent distrust of real estate agents is depressing vendor outcomes and inviting regulatory heat, but ...Read more
Property
Reality check for first home buyers: Affordable suburbs with 5% deposit
In a significant development for Australian first home buyers, a new property search tool from Aussie Home Loans is set to transform the way prospective homeowners approach the market. As the Federal ...Read more
Property
Trust as a performance multiplier in Australia's real estate market
In Australia’s A$10–11 trillion housing market, trust is emerging as a crucial factor that sellers and agencies can no longer afford to overlook. Traditionally viewed as a soft metric, trust is now ...Read more
Property
LJ Hooker Lake Macquarie makes a splash with Belmont buy as real estate consolidation looms
LJ Hooker Lake Macquarie’s acquisition of the Belmont office, including its rent roll, is less about shopfronts and more about balance‑sheet resilience. In a market where listings ebb and flow with ...Read more
Property
Twice the demand: the case study behind Melbourne’s first‑home buyer surge
Melbourne has quietly engineered one of Australia’s most consequential housing turnarounds, with first‑home buyer demand running at roughly double the national pace and four of the top five buyer ...Read more
Property
First‑home buyers now anchor Australia’s mortgage growth — but the risk maths is changing
Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government ...Read more
