Alternatives to InvestSMART Robo Advice
InvestSMART Robo Advice is known for CHESS-sponsored managed ETF portfolios, with a $10,000 minimum, auto-invest and SMSF support. It suits investors who want a hands-off, professionally managed portfolio held in their own name. Reasons to look elsewhere include the relatively high entry point, no dividend reinvestment, and no direct ASX or US share trading. Some investors also want a lower minimum, a cheaper monthly fee, or the ability to hold individual shares alongside a managed portfolio. Below we list six alternatives, each with a different angle, from micro-investing apps to full brokerage accounts.
Similar CHESS-sponsored managed ETF portfolios but with a $1,000 minimum, a $1 monthly fee and dividend reinvestment, which InvestSMART Robo Advice does not offer.
- ASX brokerage minimum
- $0
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess
Another managed ETF robo-advisor with a $3,000 minimum and no monthly platform fee, though it uses a custodian model rather than CHESS sponsorship.
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess
- Auto-invest / DCA
- Yes
A micro-investing app that starts from any amount with round-ups and a $5.50 monthly fee, plus kids accounts, for investors who find the $10,000 minimum too high.
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- custodian(InvestSMART Robo Advice: chess)
- Auto-invest / DCA
- Yes
Offers zero-brokerage US fractional shares from a $3 monthly fee, giving international exposure that InvestSMART Robo Advice does not provide.
- ASX brokerage minimum
- $0
- ASX ETFs supported
- No(InvestSMART Robo Advice: Yes)
- CHESS sponsorship model
- custodian(InvestSMART Robo Advice: chess)
Custodian-held ASX ETF investing with a $20,000 minimum and a $7 monthly fee, aimed at investors who want a larger, professionally managed portfolio.
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- custodian(InvestSMART Robo Advice: chess)
- Auto-invest / DCA
- Yes
A full CHESS-sponsored brokerage with ASX trades from $1 and zero-commission US shares, for investors who want to pick their own stocks rather than a managed portfolio.
- ASX brokerage minimum
- $1
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess
Common questions
What is the best alternative to InvestSMART Robo Advice?
There is no single best option. It depends on your priorities. If you want a lower minimum and dividend reinvestment, a cheaper managed portfolio may suit. If you want to trade individual shares, a brokerage account is a better fit. Compare minimums, monthly fees and whether the platform is CHESS-sponsored before deciding.
Is InvestSMART Robo Advice CHESS-sponsored?
Yes, it uses a CHESS sponsorship model, meaning your holdings are registered in your own name on the ASX CHESS system. Some competing robo-advisors hold assets through a custodian instead. Both structures are common, but CHESS sponsorship gives you direct legal ownership of the underlying securities.
Can I switch from InvestSMART Robo Advice to another platform?
Yes. You can sell your holdings or transfer them, depending on the new platform. CHESS-sponsored assets can often be transferred without selling, while custodian-held platforms may require a sell and rebuy. Check exit fees, capital gains tax implications and any minimum balance rules before you move.
Do robo-advisors let me buy individual ASX or US shares?
Most robo-advisors only offer managed ETF portfolios, so you cannot buy individual shares. If you want to pick your own ASX or US stocks, you need a brokerage account instead. Some investors use both: a managed portfolio for the core and a brokerage for satellite holdings.