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Clover

Clover is automated investment service that invests your money on your behalf in low-fee ETF funds. Lauched in 2015, Clover uses Nobel Prize-winning investing principles to build you a customised, low-cost portfolio tailored to your level of risk. Whether you are saving for a holiday, retirement, your child’s education or a rainy day. Clover is similar to another automated investment platform Raiz.

Clover are partnered with Macquarie Bank to provide a personalised account for your investment contributions. An account is opened up under your name where you make deposits to and withdrawal from.

There are no withdrawal fees and you can take your money out anytime. Where it differs from Raiz is that there is a minimum investment of $2,500. There are no set up fees or exit fees. There is a monthly fee based on your investment balance:

Account balance Clover fee
$2,500+$5 + GST per month
$10,000+0.65% + GST per year
$50,000+0.60% + GST per year
$100,000+0.55% + GST per year
$500,000+0.45% + GST per year

Clover and Raiz are a great option for those who want to get into the stock market but don’t want or have the time to do the research into individual shares/companies or find the stock market daunting.

What are EFTs?

Based on your tolerance of risk, your money is invested across a bundle of shares or bonds that form one financial product, called an Exchange Traded Fund (ETF).

The Clover portfolios are made up of a combination of different ETFs that range from cash, bonds, Australian and international shares. Every investment you make will be allocated towards these ETFs.

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