Raiz launches custom portfolio option
Raiz has introduced a new custom portfolio option that will enable clients to gain more control over their portfolio allocations.
Raiz said the custom portfolio, unlike its seven standard ETF portfolios, will allow users to build their own personalised portfolio by choosing the target weighting for up to 14 ETFs as well as Bitcoin.
“The Custom Portfolio gives Raiz users more control over how they invest. For example, they can now build a portfolio that is more tech focused, more internationally focused, or more focused on sustainability,” Raiz said.
“Or, if a user would prefer to include cryptocurrency in their portfolio, they can choose to have up to a 5% target weight in Bitcoin.”
Raiz confirmed there would be on brokerage costs associated with the option so users can buy or change ETFs with flexibility.
Instead, there is a $4.50 per month fee associated with the custom portfolio option for accounts less than $20,000, or 0.275 p.a. for balances over $20,000.
Raiz said it also automatically rebalances portfolios to keep holdings in line with the target weightings specified by the user.
Additionally, Raiz said users can have a customised name for their personal portfolio.
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