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August 16, 2022

AZ Sestante rolls out digital investing tool for wealth management industry

AZ Sestante, a specialist investment consultant, has introduced a digital investing solution in a bid to empower wealth management and advice providers.

Dubbed Sestante Invest, the solution has been designed to enable the wealth management and advice providers to eliminate the growing ‘advice gap’ in the industry.

Altogether six investment portfolios supervised by AZ Sestante, including Sestante Dynamic Conservative, Sestante Dynamic Balanced, Sestante Dynamic Aggressive, Sestante ESG Focus Conservative, Sestante ESG Focus Balanced and Sestante ESG Focus Aggressive, will be available to the investors using the new solution.

The users are expected to receive regular information on causes determining their portfolio management decisions. They will also have access to financial literacy and wellbeing updates.

With the launch of Sestante Invest, the company aims to enable its customers to provide professional investing solutions to those who cannot afford their conventional expensive personal advice services or the ones who seek to do it on their own.

AZ Sestante distribution head Andrew Davies said: “Our client firms are dealing with issues that are consistent across the Australian financial advice landscape: as the cost of delivering ongoing personal financial advice has shot up and large numbers of advisers have left the industry in recent years, it means that increasing numbers of people are priced out of this service – what is generally referred to as the ‘advice gap’.

“Now, with the launch today of our new digital solution, Sestante Invest, our client firms are able to help a much broader audience, as the minimum investment to get started is only $25,000.”

The company further noted that it had already formed an alliance with Australian fintech investment firm OpenInvest to provide the latter’s customer firms to resolve commonly found issues in the wealth management sector through Sestante Invest.

OpenInvest CEO and co-founder Andrew Varlamos said: “With an estimated $1tn in wealth moving between generations over the next decade, it’s logical for progressive wealth management firms to be reaching out to help the next generation now – not after they have built their wealth to what a firm might traditionally have regarded as their minimum threshold.”

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