Jess has downloaded countless investing apps. You name the broker and she’s probably set up an account. But there’s a catch- she’s never actually used any of them.

She sets up the account, gets overwhelmed and doesn’t open it again. To start investing- that has to change.

It’s time to choose a brokerage platform; the place where she will buy ETFs. So Jess put together a checklist to help her choose one that suits her needs.

Rather than just talk the checklist in theory, she wanted to run a real platform through it.

BetaShares Direct, who is supporting this series, agreed to let her do exactly that. Jess sit’s down with Head of Product at Betashares Direct, Matt Fish. Together they walk though her checklist one by one to see how Betashares Directs stacks up. Plus Jess asks all the questions probably also running through your head when using a brokeage app for the first time.

There is not one “right” platform, it’s about ensuring you pick one that works for you. You can use this checklist to compare any broker you’re looking at.

Chapters

00:00 Intro

02:06 What is a brokerage platform?

05:41 What can I actually invest in?

06:54 What are the fees?

09:38 How is my money held? CHESS vs custodial

12:53 How does tax reporting work?

15:06 Anything else to consider when choosing a platform?

16:52 How do I actually make my first investment?

19:41 Can I automate recurring investments?

21:07 How to sell an ETF

21:28 What else a beginner should know

23:55 Trends Matt sees with beginner investors

Links Mentioned in this episode:

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Thanks to Betashares Direct for sponsoring this series and helping us keep our content free. Check it out at betashares.com.au/direct

Betashares Capital Ltd (ABN 78 139 566 868 AFSL 341181) is the issuer of Betashares Invest, the IDPS-like scheme available via Betashares Direct. Read the relevant Product Disclosure Statement and Target Market Determination, available at www.betashares.com.au/direct, before making an investment decision. This information is general in nature and doesn’t take into account any person’s financial objectives, situation or needs. You should consider its appropriateness taking into account such factors and seek professional financial advice.

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In the spirit of reconciliation, Equity Mates Media and the hosts of Get Started Investing acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today.

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Get Started Investing is a product of Equity Mates Media.

This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional.

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