Alternatives to InvestSMART Robo Advice
InvestSMART Robo Advice is a CHESS-sponsored robo-advisor that builds and manages ETF portfolios for investors with at least $10,000. It offers auto-invest features and SMSF support, making it a solid choice for hands-off investors who want direct share ownership. But not everyone needs CHESS sponsorship, and some investors want lower minimums, access to US shares, or a simpler fee structure. Others might prefer a different portfolio approach or a platform that suits smaller balances. Here are six alternatives to consider, each offering something different from InvestSMART Robo Advice.
CHESS-sponsored robo-advice with a $1,000 minimum, DRP support, and a lower entry point than InvestSMART's $10,000.
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess
- ASX brokerage minimum
- $0
Custodian-based robo-advisor with no monthly fee and a $3,000 minimum for diversified ETF portfolios.
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- custodian(InvestSMART Robo Advice: chess)
- Monthly platform fee
- $0/month
Micro-investing from any amount with round-ups and a kids account, ideal for starting small.
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- custodian(InvestSMART Robo Advice: chess)
- Monthly platform fee
- $5.5/month
Custodian-held ASX ETF investing from $20,000 with a flat $7 monthly fee and SMSF support.
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- custodian(InvestSMART Robo Advice: chess)
- Monthly platform fee
- $7/month
US fractional shares from $0 brokerage with a $3 monthly fee, for investors wanting global exposure.
- ASX ETFs supported
- No(InvestSMART Robo Advice: Yes)
- CHESS sponsorship model
- custodian(InvestSMART Robo Advice: chess)
- ASX brokerage minimum
- $0
CHESS-sponsored ASX trades from $1 and zero-commission US shares, plus options trading.
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess
- ASX brokerage minimum
- $1
Common questions
Can I switch from InvestSMART Robo Advice without selling my investments?
It depends on the new platform. If you move to another CHESS-sponsored provider, you can typically transfer your holdings via an off-market transfer without selling. Custodian-based platforms may require you to sell and rebuy. Check with the new provider before making changes.
Are there robo-advisors with lower minimum balances than InvestSMART?
Yes, several robo-advisors accept lower starting balances. Some start from $1,000 or even $0 with regular contributions. Micro-investing apps let you begin with any amount using round-ups. Just check whether the platform uses CHESS sponsorship or a custodian model.
What's the difference between CHESS-sponsored and custodian robo-advisors?
CHESS sponsorship means you hold shares directly on the ASR registry in your name. Custodian models hold assets in a trust structure on your behalf. CHESS offers direct ownership, while custodians can offer features like fractional shares and lower minimums. Both are regulated by ASIC.
Do any robo-advisors offer both ASX and US shares in managed portfolios?
Most robo-advisors focus on either ASX ETFs or US shares, not both in the one managed portfolio. Some platforms let you invest in US shares separately outside their managed offering. Check each platform's portfolio composition before choosing.