Mirae Asset Global Investments fuels robo-adviser’s expansion with major investment

Stockspot is due to accelerate its investment advice and financial services business after a sizable investment from Mirae Asset Global Investments.

In a statement on Wednesday, Stockspot said it is set to ramp up the provision of “excellent quality” and “low-cost investing advice” following the investment.

The deal, it noted, will support the ongoing expansion of Stockspot’s digital advisory platform and technology and underscores Mirae Asset’s commitment to driving innovative investment solutions on a global scale.

Chris Brycki, founder and chief executive officer of Stockspot said: “We are thrilled to partner with Mirae Asset Global Investments, a renowned leader in the global financial services industry.

“This investment is a resounding validation of Stockspot’s vision to make investment advice accessible to all Australians and enable individuals to achieve their financial dreams. With Mirae Asset Global Investments’ support, we are poised to reshape the investment landscape and redefine how Australians approach wealth management.”

The funds received from Mirae, the robo-adviser said, will ensure it is further able to grow by enhancing its technology, expanding its team of experts, and continuing to develop innovative products and services that cater to the evolving needs of clients.

Hyeon-Joo Park, chairman and global strategy officer of Mirae Asset, said: “We firmly believe in and continue to embrace digital transformation and technology as a means to provide investors with leading and highly accessible solutions.

“Stockspot’s commitment to transparency, technological excellence, and its investors aligns perfectly with Mirae Asset’s business philosophy to embrace the future with an open mind. Our investment supports Stockspot’s continued growth and ability to deliver quality investment and portfolio management outcomes for all investors.”

Stockspot now manages more than $650 million on behalf of 13,000 clients.