What is Sharesies? Leighton Roberts and Sonya Williams, two of the co-founders join me to discuss.
Democratisation - the action of making something accessible to everyone.
Sharesies is proving to be one of NZ top online investment platforms. If you'd like to sign up and give it a go, please click on the following link to help with the production of this podcast
Giving the person with 1 cent the same opportunities as the person with $1m is one of the foundation principles used by the founders of Sharesies to bring their product to the market.
Traditionally, would be 'wealth-developers', have been locked out of investing unless they had significant sums to invest. It just wasn't possible or if it was, it wasn't cost efficient. Sharesies pioneered the practice of 'fractionalisation' with investing, enabling more people to come to the party with what they had. The result? Over 70,000 Kiwi's now have a Sharesies account and the average balance is sitting at over $2k each.
It's been over a year since I caught up with the Sharesies team and a lot has happened since then. Yes there are more players in this space, with Kernel Wealth, Hatch, and Invest Now to name a few. The good news is that the 'pie' of everyday Kiwi's playing the game is growing.
Focusing on the everyday investor, Sharesies enables those with smaller amounts to invest in not only exchange traded funds, but now also shares listed on the New Zealand Stock Exchange (NZX). This is massive.
The other thing Sharesies does incredibly well, is that it allows an account to be set up for children. From personal experience I have struggled to teach my kids about investing, but having this tool is a great assist.
If you'd like to give this a go, or check them out, go here.
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Where to find Darcy Ungaro:
Ungaro &Co (registered) financial advisers