![]() Investor’s goals are assigned a portfolio that is one of five risk levels: income, income growth, balanced, balanced growth and growth. Multiple accounts can be opened at a time, and each goal gets an estimate on how much needs to be contributed, and at what frequency, in order to be successful. Investors open an account by first choosing from a list of goals – which includes traditional goals of retirement, travel and home ownership, as well as goals around emergency funds, charitable donations, a dependent account that could be used for caring for an elderly parent, or a custom account for personal savings such as maternity leave. Jalasjaa says, and is available to anyone looking for goals-based investing. The platform is not exclusive to women, Ms. While the fee is slightly higher than the industry average of 0.50 per cent, investors gain membership to the Women’s Collection and its financial-education articles and podcasts. The platform charges a 0.65 per cent fee for assets under management. ![]() Smart Money, which was launched in collaboration with Smart Money Capital Management, uses exchange-traded funds in its portfolios, and requires a minimum deposit of $500 to open an account. “Women typically look at their financial situations in this way, which is why the platform was designed in this manner – it’s an intuitive way of investing that starts with the question: What are you saving for?” Ms. But in order to appeal to the female investor, the platform doesn’t focus on investment returns or beating the market rather, it asks investors which goals they would like to achieve and which goals have higher priorities than others. Similar to other robo-adviser platforms, Smart Money prompts investors to answer a series of financial questions to determine what kind of investment portfolio will best suit their needs. These web-based platforms offer clients an online risk-assessment tool that quickly calculates an appropriate asset allocation based on age, financial goals and risk tolerance. In Canada, robo-advice assets under management amounts to more than $5-billion, and while still only a fraction of the larger asset-management market in Canada, robo-advisers are offering alternative investment advice to digital-savvy customers. ![]() The launch of a gender-focused platform comes at a time when female investors are on track to manage more than $4-trillion over the next decade, prompting the financial-services industry to rethink the way investment advisers and wealth-management firms conduct business.Ĭurrently, Canadian women directly control approximately $2.2-trillion of personal financial assets, a number that will increase by more than 70 per cent by 2028, according to a recent report by CIBC World Markets Inc. A third of women also stop saving as a direct consequence of those care responsibilities. Women are more likely to quit work, reduce work hours and forgo promotions to care for children, a spouse or an aging parent. The platform aims to educate women in their finances and tackle some of the unique circumstances women face in the life cycle of their investing years. Jalasjaa wanted to incorporate an online tool where women could explore investing in an easy-to-understand environment, or for those individuals who may only have a small amount of assets to invest. Jalasjaa launched the Women’s Collection, a website that provides financial literacy to women through online courses and podcasts, educational webinars and social events across Canada for members.
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