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.
- ›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
- ›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 |
Choose InvestSMART for large portfolios and CHESS ownership; choose Raiz for micro-investing and automated savings habits.
Common questions
How do InvestSMART Robo Advice and Raiz Invest compare on minimum initial deposit?
InvestSMART Robo Advice: $10,000. Raiz Invest: $5. InvestSMART is for serious portfolios; Raiz is for anyone.
How do InvestSMART Robo Advice and Raiz Invest compare on annual platform fee?
InvestSMART Robo Advice: $880 flat. Raiz Invest: $66 flat. InvestSMART's fee is high for small balances but competitive above ~$80,000.
How do InvestSMART Robo Advice and Raiz Invest compare on chess sponsorship?
InvestSMART Robo Advice: Yes (CHESS). Raiz Invest: No (custodian). InvestSMART gives you direct ASX ownership; Raiz holds via custodian.
When is InvestSMART Robo Advice the better choice over Raiz Invest?
Pick 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; or you're investing a lump sum of $10,000 or more and want a flat annual fee that doesn't grow with your balance.
When is Raiz Invest the better choice over InvestSMART Robo Advice?
Pick 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; or you're comfortable with a custodian model and don't need CHESS sponsorship.
InvestSMART Robo Advice or Raiz Invest — what's the 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 | — |