Canstar launches fintech comparison portal WealthBricks

Source: Canstar

More than 3 million Australians use Canstar's comparison tables each year and the majority of those individuals identify as self-directed investors.

Numerous start-ups are targeting this substantial market with solutions that deliver advice, product and access to markets. The challenge, though, for start-ups and investors alike is discovering one another.

"There is demonstrated appetite in Australia for a range of self-directed financial services," said Josh Callaghan, CANSTAR General Manager, Wealth and creator of WealthBricks.

"Many larger institutions are attempting to capture this market, or at least retain their customer base, with robo-advice platforms. There are also a significant number of independent start-ups offering ground-breaking services.

"Automated investment start-up Acorns, for example, grew to 100,000 Australia-based users within six months of launch; this was a higher comparative growth rate than it experienced when the app launched in America. Stock-picking tool Simply Wall St, which analyses over 15,000 stocks, has combined global reach with a loyal Australian customer base. P2P platform Ratesetter launched to Australian retail investors less than two years ago and has funded more than $53 million of loans solely from those retail investors."

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