The investment platform was launched in 2016 and offered do-it-yourself access to 10 portfolios. On Friday, the company said it was unable to scale as needed.
A robo-advice platform once backed by founding members of the Future Fund has ceased services citing challenging capital markets and a lack of industry interest in offering digital investment services.a response to the “costly and conflicted advice”
As of July, the investing platform offered 10 portfolios, five of which were marketed as sustainable, with investments across eight asset classes including Australian and international shares, infrastructure, bonds and property. Investors could take an assessment which would take in their risk profile, goals and timeframe, before being recommended a portfolio.
It also noted that the closure comes amid “challenging” capital markets and “despite positive rhetoric” flowing from fellow industry participants.
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