Robo Advisor comparison
InvestSMART Robo Advice vs Raiz Invest
The biggest difference between these two robo-advice platforms is the minimum commitment. InvestSMART requires a $10,000 starting balance and charges a flat $880 annual fee, making it a serious option for larger portfolios. Raiz lets you start with just $5 and costs $66 a year, so it's built for beginners and small savers.
Choose
InvestSMART Robo Advice
if…
- ›You want CHESS-sponsored holdings — your ASX ETFs are held in your own HIN, not a custodian
- ›You need joint, company, trust or SMSF account structures beyond basic individual accounts
- ›You value extensive education content and free research reports to guide your investing decisions
- ›You're investing a lump sum of $10,000 or more and want a flat annual fee that doesn't grow with your balance
- ›You prefer a full desktop platform alongside the mobile app
Choose
Raiz Invest
if…
- ›You want to start investing with as little as $5 and build up gradually
- ›You like the round-up feature that invests your spare change automatically
- ›You want a more sophisticated auto-invest system that can rebalance your portfolio to target weights
- ›You're comfortable with a custodian model and don't need CHESS sponsorship
- ›You prefer a simple monthly subscription fee of $5.50 with no minimum balance requirements
Where they differ
| Fact | InvestSMART Robo Advice | Raiz Invest |
|---|---|---|
| Minimum initial deposit | $10,000 | $5 |
| Annual platform fee | $880 flat | $66 flat |
| CHESS sponsorship | Yes (CHESS) | No (custodian) |
| Account types | Individual, joint, company, trust, SMSF | Individual, SMSF, kids/minor |
| Auto-invest sophistication | Basic | Weighted/rebalancing |
Verdict
Choose InvestSMART for large portfolios and CHESS ownership; choose Raiz for micro-investing and automated savings habits.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | InvestSMART Robo Advice | Raiz Invest |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | custodian |
| Individual account | Yes | Yes |
| Joint account | Yes | No |
| Company account | Yes | No |
| Trust account | Yes | No |
| SMSF account | Yes | Yes |
| Kids / minor account | — | Yes |
| asset coverage | ||
| ASX shares supported | No | No |
| ASX ETFs supported | Yes | Yes |
| US shares supported | No | No |
| US ETFs supported | No | No |
| Other markets supported | AU | |
| Fractional shares (ASX) | — | Yes |
| Fractional shares (US) | No | — |
| Options trading | No | No |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | Yes | No |
| IPO access | No | No |
| costs hidden | ||
| Holds USD account | No | — |
| Market data fees | $0/month | — |
| costs visible | ||
| ASX free trade conditions | — | Brokerage free across all plans — bulk ASX execution is bundled into the monthly subscription / management fee. No fees on deposits, withdrawals, or portfolio switches. |
| Monthly platform fee | — | $5.5/month |
| Annual platform fee | $880/year | $66/year |
| Inactivity fee | — | $0 |
| Withdrawal fee (AUD) | — | $0 |
| identity and trust | ||
| Legal entity name | InvestSMART Funds Management Ltd | Raiz Invest Australia Limited |
| AFSL number | 246,441 | 434,776 |
| Year founded | 1,999 | 2,016 |
| Parent / ownership | InvestSMART Group Limited (ASX:INV) - publicly listed parent | Raiz Invest Limited (ASX: RZI) — Australian publicly listed parent |
| Country of incorporation | AU | AU |
| Public company status | public | public |
| money movement | ||
| Minimum initial deposit | $10,000 | $5 |
| Minimum subsequent purchase | $100 | $0 |
| Deposit methods | BPAY, Direct Debit | bank_transfer, debit_card, round_ups, recurring_direct_debit |
| Settlement period | T+2 | T+2 (ASX) — applies to fund trading via the underlying ETFs; member contribution settles in ~1-2 business days into the fund. |
| Withdrawal time | 4-5 business days | 3-5 business days (T+2 ASX settle, then 1-3 days bank transfer) |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | No |
| Demo account | No | No |
| Free real-time market data | No | No |
| Free research reports | Yes | No |
| 2FA support | optional | SMS |
| Customer support channels | phone, email, live chat | phone, email, in_app |
| Support hours (AU time) | 9:00am-5:30pm AEST Mon-Fri | Monday-Friday, 8:30am-5:30pm Sydney time |
| Education content | extensive | basic articles |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | Yes |
| CGT calculator / report | Yes | Yes |
| Sharesight / Navexa integration | No | No |
| trading mechanics | ||
| Auto-invest / DCA | Yes | Yes |
| Auto-invest sophistication | basic | weighted/rebalancing |
| DRP (dividend reinvestment) | No | No |
| After-hours / overnight trading | No | — |