Commonwealth Bank welcomes improved banking sector Code of Practice
CommBank launches MyWealth in answer to the new era of self-directed investing
6 February, 2013: In response to the needs of self-directed investors, Commonwealth Bank has launched MyWealth, mywealth.com.au, an innovative online platform that will help Australians create and manage their financial futures. MyWealth is an Australian first that will change the way both new and experienced investors build and manage their wealth – bringing together their investing and banking, in one online destination.
With more than three million self-directed wealth investors in Australia, MyWealth has been designed to make it easy for customers to research and invest in a range of financial products – all with one log-in. Developed following nine months of customer centred design research, MyWealth aims to help customers easily navigate and make sense of the investment world.
“Prolonged market volatility has increased awareness around the impact of investment decisions and changed the relationship between investors and their wealth. Investors are more connected than ever before with where they put their money. It is a new age of investing,” said Lisa Frazier, Chief Innovation Officer Equities and Margin Lending, Commonwealth Bank.
“MyWealth has been designed to demystify the investment process and our aim is to empower Australians who want to be in the driving seat of their own investment decisions. We have designed MyWealth using research and feedback from customers who wanted simplicity and more resources to help them make informed decisions that speak to their investment goals and financial futures.”
The MyWealth platform provides Australians with a simple, informed process for creating and managing their own financial future. Comprising of an easy-to-use investment platform, stock market watchlists and hosted social communities, alongside financial news and educational features from a dedicated team of in-house journalists – the MyWealth platform is designed to be the best platform in Australia for self-directed investors to control and view their wealth creation.
“By creating a platform that enables self-directed investors to grow their wealth while delivering a great customer experience, we aim to support self-directed investors in their efforts to establish their financial future,” said Stephen Karpin, Executive General Manager Equities Margin Lending, Commonwealth Bank. “We have integrated the key elements of investing from across CommBank and CommSec as well as other media elements such as news and community, in one, always-online destination for investors.”
MyWealth provides the following features:
- access to a cash and investment account which is integrated with existing CommSec and NetBank accounts providing a ‘big picture’ outlook on a user’s wealth portfolio;
- the ability to easily invest in shares, Exchange Traded Funds, fixed interest or cash products;
- social community for likeminded investors to share and discuss ideas and strategies with each other;
- comprehensive and personalised financial news, market updates, educational reports and videos created by a dedicated team of journalists; and
- a stock market watch list with regular market updates on companies of notable interest to the customer.
This is just the beginning for MyWealth. Across 2013 Australians will continue to see a roll out of new features that focus on simplifying the investing experience across asset classes, including superannuation and property.
MyWealth is available from today to Commonwealth Bank and non-Commonwealth Bank customers. CommBank customers simply need their NetBank ID to get started.
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T (02) 9118 1706
M 0403 681 515
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