InvestSMART Group Limited (ASX: INV) (InvestSMART) announces that it has today launched its white label online investing platform and has appointed its first external investment manager, The Rask Group Pty Ltd (Rask Invest). Under the arrangement, Rask Invest clients will have their funds professionally managed by Rask Invest in one of three Rask investment portfolio within the InvestSMART Professionally Managed Accounts ARSN 620 030 382 (PMA).
InvestSMART will provide the back-end administrative, compliance and technological platform utilising InvestSMART’s proprietary digital solutions. The partnership with Rask Invest introduces InvestSMART’s PMA as a white label online investment platform and furthers InvestSMART’s position as a leading Australian digital wealth and advice platform which is primarily focused on growth in funds under management. The launch proves that InvestSMART can extend its services to other like-minded businesses including wealth managers, advice firms, financial media businesses and brokers.
InvestSMART believes there will be significant growth potential in the PMA as a white label platform:
• Our partners can be in market within a few months, depending on requirements, without the high costs of building out a platform themselves;
• Our partners will be able to offer their clients access to professionally managed investment portfolio without the relatively high cost of obtaining personal financial advice; and
• Our partners can concentrate on what they are good at without the time and cost of setting up their own managed investment scheme, administration and maintenance.
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