Simplicity contacted us today, and told us that they were stopping InvestNow’s clients from being able to invest in their funds through InvestNow.
Obviously, we are deeply disappointed with Simplicity’s decision, given the clear alignment between our goal to provide investors with the freedom to make choices that best suit their investment goals – this includes removing barriers such as high minimum investment amounts and all transaction and administration fees.
Our customers were able to benefit from being able to invest as little as $250 (whereas their minimum is $10,000) and without the $30 per annum administration charge for the Simplicity funds.
Given Sam’s mantra of striving to maximise investor returns by charging the lowest possible fees, we would have thought our no-fees model was perfectly aligned to his philosophy. It is disappointing to see this doesn’t extend to everyone, including those with less than $10,000 to invest.
Perhaps we had embarrassed him, by being able to offer his product cheaper than what he could.
For our customers who have already invested in Simplicity funds through InvestNow, you will be able to still hold your investment in Simplicity funds (you will be unable to make new investments in the Simplicity funds). We will be in contact with these investors in the coming days to discuss this further.
As always, please get in contact on 0800 499 466 or firstname.lastname@example.org (Mon-Fri 8:00am to 5:00pm, excluding public holidays) should you have any questions with regards to this, or any other matter.