Has Anyone Used QuietGrowth Investments?

Lzenx on 22/03/2017 - 09:31

I was looking into Acorns to invest 5 - 10k but then I stumbled upon QuietGrowth (quietgrowth.com.au) which has lower fees (as long as the investment value is A$<10k) and their aggressive portfolio has somewhat less Australia exposure when compared to Acorns which I prefer. Yet, it seems that QuietGrowth is not well known and them having an investment management team of 1 doesn't really make it sound like a serious company. Has anybody used them? Also, does anyone know what happens if QuietGrowth (or Acorns for that matter) go bankrupt? I assume that the platform gets closed down but I get to keep our ETFs etc as those are bought in my name?

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Comments

  • the cheeky dropbear on 22/03/2017 - 10:43

    Check their PDS; youll find all the info you need in there.

  • [Deactivated] on 22/03/2017 - 10:45
    +1

    sounds like investing in penny stocks that hopefully grow like crazy.
    id avoid.

  • cloudy on 22/03/2017 - 12:16

    I would not be assuming the underlying shares/investment is bought in your name, you should make sure, coz as you said if they collapse you could lose everything.

    Stick with more well known investments if your not sure, better be safer.

  • tangelo79 on 26/04/2017 - 20:01

    I stumbled across this post as I'm an Acorns customer and was curious as to whether they buy the investments in my name or not. I'm still trying to find out for Acorns but it looks to be in your name for QuietGrowth:

    What will happen to my investments if QuietGrowth is acquired by another firm, or ceases to conduct business?
    You need not worry because your brokerage account with our brokerage partner is held in your own name.

    If any other firm acquires QuietGrowth and that firm decides to continue providing the service to you, then there will not be any disruption in the service to you. Your brokerage account will remain active in your own name, and you can deposit or withdraw money whenever you want.

    Even in the unlikely event of QuietGrowth ceasing to conduct business or cease to provide the MDA service to you, because of getting acquired or because of business failure, your brokerage account will remain active in your own name. Your securities and cash will continue to be held by our brokerage partner Saxo Capital Markets, until you transfer your brokerage account to a new broker of your choice, or you choose to liquidate your brokerage account to withdraw all your money. During this period, our brokerage partner, instead of us, will not be providing the MDA service to you. That is, for example, our brokerage partner will not provide online investment advice, nor design investment portfolios, nor invest your money as per your Investment Program, nor ensure that your portfolios are rebalanced.

    Source (under "General Questions") = https://www.quietgrowth.com.au/faq

    • zenx on 27/04/2017 - 19:05

      thanks, that's good to know. hopefully, acorns does the same.

  • luker9001 on 04/05/2017 - 22:57
    +1

    looks interesting. has anyone taken the plunge and wants to do the friend invite thing to increase the fee free threshold?

  • tardis3 on 11/05/2017 - 14:42

    I have been very happy with the Acorns app (getting 12% after 6 months so far). This looks similar with no fees for balance under $10,000 Would love to hear some testimonials

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