Raiz wins Finder’s Investment Innovation Award for 2024
Raiz Invest has claimed the Investment Innovation award in the 2024 Finder Innovation Awards thanks to the launch of its Raiz Plus Portfolios.
The Finder Innovation Awards look to recognise the companies, brands and platforms that seek to put the customer first by delivering disruptive products or services and it’s hard to think of a product that better fits that brief than Raiz’s Plus Portfolios.
Raizing to the challenge
Raiz has helped to democratise investing in Australia through its easy-to-use investing platform and prebuilt portfolio approach. With its focus on micro-investing features like round-ups and recurring investments, it has helped open the door to a generation of young and inexperienced investors.
1 in 6 Australians have used micro-investing apps like Raiz, according to Finder research, and Raiz itself now boasts more than 300,000 customers and $1.5 billion in funds under management.
But while investing has become more affordable and accessible in recent years, the question of balancing simplicity and flexibility has remained. Users are increasingly looking for low-cost, low-friction investing options, but not at the expense of personalisation or control.
According to Finder research, micro-investing app users rank features like an easy-to-use app, auto-investing and round-ups as most important, but also the number of available markets and the range of products and portfolios.
Raiz’s innovative Plus Portfolios are helping to strike this balance – offering users affordable access to the stock market whilst giving them greater control and choice over their investments.
Starting with a pre-built portfolio, Plus users can then customise it according to their own preferences and investing goals via unprecedented access to a range of diverse assets.
Through Plus Portfolios, investors can now get exposure to more than 100 fractional ASX stocks, property, ETFs and Bitcoin with no brokerage fees and minimum investments of just $5, all on Raiz’s intuitive mobile and desktop platform. Users can even add a personal touch to their portfolio with custom name and colour options.
As users grow in experience, Raiz Plus Portfolios give them the opportunity to broaden their investing horizons and evolve their portfolio without the prohibitive costs or expertise often required by more advanced trading platforms.
With Raiz’s Plus Portfolios, investors are empowered to take the driving seat on their portfolio across a range of asset classes. It’s barrier-breaking investing that brings real, user-friendly innovation to Raiz’s 300,000+ customers.
By the numbers
The enthusiastic uptake of Plus Portfolios amongst Raiz’s users is evidence of its innovative approach. Since launching in August 2023, more than 27,000 Raiz users have already created a Raiz Plus portfolio, a little over 9% of the total Raiz user base.
It’s clear that Plus Portfolios have struck a chord with more engaged and financially motivated customers. Plus Portfolios users have an average balance of $6,505, close to double that of the average Raiz user ($3,741).
Plus Portfolios also boast the highest retention rate across all of Raiz’s investment products, with 67% of Plus customers adding to their portfolio over a 3-month period. An impressive 85% of Plus customers have also interacted with their account in the last 3 months.
It’s clear that the more hands-on approach offered by Plus portfolios has resonated with customers and established Raiz’s credentials as a disruptor in the retail investing space, and a worthy winner in the 2024 Finder Innovation Awards.
About the author
Tom Stelzer is a publisher and writer for Finder, covering investing and cryptocurrency. He previously worked for Finder as a writer in Australia and the UK, covering things like personal finance, loans, investing, insurance as well as small business and business loans.
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Raiz Invest Australia Limited – Authorised Representative of AFSL 434776. The Raiz Invest Australia Fund and Raiz Property Fund are issued in Australia by Instreet Investment Limited (ACN 128 813 016 AFSL 434776) a subsidiary of Raiz Invest Limited and promoted by Raiz Invest Australia Limited (ACN 604 402 815).
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