BT, part of Westpac’s wealth management arm BT Financial Group, has introduced a new online retail share platform, called BT Go-invest.
The company said that its new platform will enable customers to purchase a variety of share market portfolios managed by ‘reputable’ investment managers.
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BT Go-invest spokesperson Anthony Potts said: "The product is intended to provide investors with "the control and benefits that flow from owning shares and exchange-traded funds, combined with the advantage of holding these assets in a portfolio that is optimised by a team of experts.
"With a minimum investment of $10,000 and fees from 0.5% plus brokerage, BT Go-invest is accessible and affordable for a broad range of investors," Potts added.
The product has been released after a survey by BT’s Australian Financial Health Index found that the proportion of survey participants owning shares had grown from 25% in 2013 to 29% in 2014.
However the survey also found that the two biggest barriers to investing in shares were lack of knowledge (47%) and lack of spare cash (51%).
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By GlobalData"In an environment of low interest rates and increasing property prices, shares are increasingly becoming a popular choice for many investors. At the same time, people are demanding greater control and visibility over their investments, but many people feel they don’t have the knowledge or the time to manage a portfolio themselves," Potts said.
"We wanted to make investing simple and easy for our customers. Online access to BT Go-invest is fully optimised for mobile and tablet devices, giving investors uninterrupted access to their portfolio 24/7, with the ability to make changes and track the performance of their investments even if they are on the move."
