South Africans looking to start an investment portfolio can now do so with the help of online investment platform Bizank – the country’s first ‘robo-advisor’.

According to Moneyweb, clients are able to invest ZAR1 000 a month via debit order or a ZAR10 000 lump sum. The robo-advisor begins by identifying an appropriate amount for the user to invest, what they want to invest in and how much risk they’re willing to take. A mix of assets is then collated for the investor to choose from.

Individuals also have unlimited access to updates, helping them determine whether their investment expectations are being met.

Bizank, however, firmly points out that it is an investment tool and, as such, does not offer financial advice, nor does it manage investments – that’s taken care of by Anchor Capital, the robo-advisor’s provider.

10 May 2016