[LINK] MyWealth.com.au

[stephen at melbpc.org.au]

For Linkers with a Commonwealth Bank account with Netbank online access, 
(or not) here's an interesting initiative. A sort of  'online investment
social network'. It's quite unusual for a bank, with many investment etc 
discussion forums, off-topic discussions, (eg buying a fishing boat) and  
it's complete with a *very* relaxed Moderator (aka, Community James) who
urges you to choose a nickname like Darth Vader, and to upload an avatar.

It started yesterday, and, as of late last night, when I registered with
the netbank number and password and chose a username, so far there seems
to be around 15 to 20 members. But, I expect that will grow very quickly.

At their site, one first registers, then creates a free MyWealth account 
which requires an email address and your tax-file number, (or exepmtion).

Also according to this ARNET news item it's available to non-bank people.

It's quite unusual. Already there is wide-ranging and interesting forums.

And altogether it's the most unlike-bank bank exeperience I can remember.


"CommBank launches MyWealth"

Online hub gives users access to their wealth portfolio

By Hafizah Osman (ARN)06 February, 2013 12:20
<www.arnnet.com.au/article/452929/updated_commbank_launches_mywealth/>


Commonwealth Bank (CommBank) has unveiled MyWealth (mywealth.com.au), an 
online platform that enables self-directed Australian investors to create 
and manage their financial portfolio.

According to CommBank chief information officer and enterprise services 
group executive, Michael Harte, this is an Australian first that will 
change the way new and experienced investors build and manage their 
wealth.

“Our customers increasingly want to go to one place where all the rich 
content for their financial decisions is in one place, is easily 
accessible, and allows them to make fast decisions. 

“MyWealth is an architecture where in real-time, customers can transact 
across banking, brokerage, insurance and asset management,” he said.

With more than three million self-directed wealth investors in Australia, 
the online hub is designed to enable customers to research and invest in 
a range of financial areas.

It aims to aid customers navigate and keep up to date on their own 
investments, as well as potential investments they might make.

According to CommBank, the solution was designed following nine months of 
customer centred design research.

“Based on the several billion dollars we spent over the last five years, 
we’ve enabled two things – a unified set of data that has a deeper 
relationship for our customers and a platform where businesses can create 
rich content interactivity and enrich the investment decisions they 
make,” Harte said.

The MyWealth platform provides Australians with a simple, informed 
process for creating and managing their own financial future. 

It provides the following features: 

• Access to a cash and investment account, integrated with existing
  CommSec and NetBank accounts 

• The ability to easily invest in shares, exchange traded funds, fixed
  interest or cash products 

• A social community for investors to share and discuss ideas and
  strategies 

• Comprehensive and personalised financial news, market updates,
  educational reports & videos created by a dedicated team of journalists

• A stock market watch list with regular market updates on companies of
  notable interest to the customer. 


CommBank expects to roll out more features into MyWealth in 2013, that 
focus on simplifying the investing experience across asset classes, 
including superannuation and property.

“The customer can model a broader set of portfolios so they can make 
instant decisions using all of their asset and liability positions. For 
CommBank, it is about knowing the preferences and behaviours of its 
investing community and helping them make richer decisions,” Harte added. 

MyWealth is available from today to Commonwealth Bank and also to non-
bank customers.
--

Cheers,
Stephen
Nb: Zero commercial interest in making this post. I have a Bank account
with them but no shares, and I don't care if you follow this up, or not.
:-)


Message sent using MelbPC WebMail Server