The Commonwealth Bank today launched an online hub for self-directed investors.
The site called MyWealth.com.au allows investors to access their entire wealth portfolio through one log in.
The platform will enable investors to invest in shares, capital, property and fixed interest and will include a news service and community forums.
Stephen Karpin, executive general manager of equities and margin lending, says MyWealth will complement Commonwealth Bank’s Commsec platform and is aimed at more novice investors and will eventually expand to include features to manage DIY superannuation.
Lisa Frazier, chief information officer in equities and margin lending at Commonwealth Bank told SmartCompany MyWealth would help SMEs save time and would simplify investments.
“If they are managing their own wealth they can use the research, the information and the education and they can find other SMEs in the community and find other people experiencing the same challenges around managing wealth,” she says.
MyWealth is a free service with no fee to use the platform.
Retail sales drop in December
Retailers had weaker sales than expected in December, with sales falling 0.2% for the month, according to the Australian Bureau of Statistics.
The results were contrary to analysts who had predicted a 0.3% rise. Sales had risen 0.1% in the three months leading up to December.
Rinehart hits the small screen
Screentime has secured the rights to a six-hour mini-series based on Gina Rinehart’s unauthorised biography, Gina Rinehart: The untold story of the richest woman in the world.
Two companies had been in a bidding war for the series, but it will now be produced by the television company famous for high rating shows such as the Underbelly series.
The Rinehart biography was based on interviews with her family, friends, colleagues and former employees.
Shares rise on offshore recovery
Australian shares opened positively this morning following a recovery from the European and US markets overnight.
The S&P/ASX200 benchmark rose 43.9 points to 4926.6 at 11:50 AEST.