Source: 8 Securities
8 Securities, a leading mobile trading & investing service in Asia, today announced the launch of Japan's first robo-advisor service.
8 Now! is a simple way for individuals to create and automate a professionally designed global portfolio at a fraction of the cost of banks and investment advisors.
"8 Now! is the first investing service in Japan that was built specifically for young people who value mobility, simplicity and low cost," said Iimori Nobofumi, President of 8 Securities in Japan.
In what is sure to be a disruptive move in Japan's highly conservative financial services industry, customers can begin investing in a global portfolio with as little as $88 and only a 0.88% service fee. Investors have the freedom to buy and sell their portfolio at no cost.
"Japan is experiencing one of the largest generational shifts of wealth in history. Japan possesses $17 trillion in investable assets. However, the Millennial generation are being grossly underserved by Japan's banks, said Mikaal Abdulla, CEO of 8 Securities. "While older investors may prefer to use a bank or traditional advisors, the next generation of wealth in Japan will be managed on a smartphone," he went on to say.
How it works
Investors complete a short online survey to assess their investment time horizon and objectives.
Investors are immediately presented with a personalised global portfolio of exchange traded funds. The portfolio is designed and optimised by Morningstar Investment Management. Morningstar has over $170 billion in assets under advisement and operations in 27 countries.
The investor chooses the amount they want to invest, starting from as little as $88.
The portfolio is automatically optimised and rebalanced based on changing economic conditions.
The performance of the portfolio can be monitored 24 hours a day, 7 days a week on a smartphone, tablet or computer.
The only fee is an annual 0.88% of the total portfolio size. There are no commissions, management fees or hidden charges that are common with traditional advisors. There are no entry or exit penalties and investors can sell or buy more at anytime.