Earnie provides tailored advice on investment portfolios

If you’re looking for affordable advice to help you manage your investments, robo advice service earnie could help. Launched in July 2016, earnie is an investment platform that provides direct-to consumer financial advice.

After signing up to earnie and answering a few simple questions about your financial goals, you are presented with one of earnie’s tailored investment portfolios. You can deposit your funds to have them invested in this portfolio, and then sit back and let your money grow.

How many portfolios does earnie offer?

earnie offers the chance for you to invest your funds in one of five investment portfolios:

Infocus High Growth

The aim of this portfolio is to develop capital growth by investing in a diversified portfolio of mostly growth asset classes. The long-term exposure is approximately 95% growth assets and 5% income assets, with a benchmark index of CPI + 5% p.a.

Infocus Growth

The objective of this portfolio is to develop capital growth by investing in a diversified portfolio of growth and income asset classes, with a focus on around 70% growth assets. The aim is to achieve a return of CPI + 3.5% p.a.

Infocus Balanced

The objective of the Infocus Balanced portfolio is to achieve a moderate amount of capital growth as well as generate a consistent income. This is done by investing in roughly 50% growth assets and 50% income assets, with the benchmark index set at CPI + 2.5% p.a.

Infocus Conservative

The aim of the Infocus Conservative profile is to deliver a consistent income return combined with a modest amount of capital growth. Your investment is split around 70% income assets and 30% growth assets, and the benchmark index is CPI + 1% p.a.

Infocus Defensive

This portfolio is designed to achieve a consistent income return by investing in mainly income asset classes (around 85%). It offers a lower risk of capital loss but also offers the potential for lower returns, with the benchmark index at CPI + 0.75% p.a.

What fees does earnie charge?

It’s completely free to register with earnie and use the forecasting tools available on the provider’s website. However, if you choose to make an investment then fees do apply. These include:

  • An administration fee of up to 0.37% p.a.
  • An investment fee of:
  • Infocus High Growth: 0.77% p.a.
  • Infocus Growth: 0.66% p.a.
  • Infocus Balanced: 0.61% p.a.
  • Infocus Conservative 0.55% p.a.
  • Infocus Defensive: 0.55% p.a.
  • Fund accounting fee: This $12 fee applies to superannuation investments only.

What asset classes can I invest in?

Depending on the earnie investment portfolio that matches your financial goals and risk profile, your money will be invested in a wide range of asset classes. Asset classes offered include Australian and international shares, listed property, alternative assets, bonds, other fixed income securities and cash.

What are the benefits of using earnie?

There are many benefits and advantages of investing your funds with earnie, including:

  • It’s easy. earnie makes it simple and convenient to receive tailored investment advice to help you take charge of your money. It also aims to make investing as easy as possible by eliminating all of the complicated financial jargon.
  • 100% online. As a 100% online service, earnie allows you to manage your investments from the comfort of your own home whenever suits you. This allows you to take full control of your finances.
  • Tailored approach. earnie offers an investment portfolio tailored to suit your unique financial goals and investment needs.
  • No minimum investment. You can start small when you invest with earnie and gradually build your balance.
  • Customer support. If you ever need help with your money, earnie has investment experts on hand via phone and online live chat.
  • You are in control. You can withdraw funds from earnie or exit whenever you want.

How do I get started with earnie?

To sign up with earnie, follow these steps:

  1. Set up your earnie account. Enter your name, contact details, occupation and salary. During the application process you will also need to provide three of the following documents to prove your ID: Passport, birth certificate, driver’s licence, proof of age card and Medicare card.
  1. Answer some questions. You will be asked a few questions to help earnie understand your financial goals and your appetite for risk.
  2. Select your portfolio. You will be presented with a recommended investment portfolio from earnie.
  3. Transfer your money. Connect your bank account or super account to earnie and transfer the amount you would like to invest. You can also set up weekly or monthly contributions to help your investment balance grow.
  4. Set your financial goals. Use earnie’s online saving calculator to work out what you need to do to achieve your financial goals.
  5. Monitor your investments. Now it’s time to sit back and watch your investments, but you can always access phone or live chat customer support if you ever have any questions.

Did you have these questions about earnie?

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