FirstStep

How it works

FirstStep helps you save with an intelligent investment account that automatically invests the spare change from your purchases. Get started in just 5 minutes with as little as $1. FirstStep rounds up your everyday purchases to the next whole dollar and accumulates that spare change amount for you to invest in Investment Options that reflect you and your values. Learn and build your confidence in your financial security as you get on top of your finances through monitoring your spending and investment health on the FirstStep App.

Category

• General Information
• Saving
• Investing

Where can I get this?

App Store

Are there any other availability restrictions?

Australian Residents only, 18+

Services Offered

Will I learn what type of risk taker I am?

No

Will it produce a financial plan?

No

What types of investments are available?

Shares
Exchange Traded Products
Structured Products

How many investment portfolio options are available?

Where can I invest?

• Australia
• International

Who manages my investments?

Vanguard, BetaShares, UBS, BlackRock

In whose name are investments held?

Professional Custodian

Is there professional research available on the investment options?

No

Will it allow me to trade automatically?

Yes

Will it automatically rebalance my portfolio?

Yes

Will it provide reports on my investment performance?

Yes

Cash management account

Yes

Automated alerts and updates

Yes

Can I access other professional help through this service?

• No

On which platform can I use this?

• Tablet
• Smartphone

Account opening & closing

How do I create an account?

Online

Account opening speed

• 5 minutes

Will it capture my personal financial information automatically?

Only Some Accounts

Will I be asked questions about my situation?

No

How fast can I get my invested money back?

> 3 Days

Who it's for

Accessable by

Myself

Life stage

• Starting Out
• Mid-Career
• Established
• Retiring
• Winding Down

Type of customer

• Consumer

Advice stage

Implement Financial Plan
Review My Progress
Multiple Stages

What is the minimum amount I have to invest?

$1

What is the minimum amount I have to be earning?

Not Applicable

Customer service & support

Is there general financial education information provided?

Yes

Customer support

• Email
• Phone
• FAQ

Who do I complain to as a last resort?

• Not Available

What it costs

Fee structure

• Subscription
• Fees Based On Value of Assets

Minimum contract period

Not Applicable

Free Trial

No

Payment method

• Cash Management Account

Is it legitimate & secure

Trading name

FirstStep Investments Australia Pty Ltd

Who owns the company

Not Available

Who runs the business

• Tarng Patel, Shiraj De Silva, Matthew Fish

Date founded

2015

Number of staff

2-10

Security & Regulatory Compliance

Will it verify my identity?

No Identification Required

Will it send me a confirmation security number to sign-up?

Yes

Are my records destroyed when I leave?

Unknown

Is there detailed documentation about the product?

Yes

What company holds the financial license?

Primestock Securities Ltd

Financial Services Guide?

Not Applicable

Contact Information

Website

Visit website

Email

Send email

Phone Number

03 8566 7771

Address

Level 1, 333 Exhibition Street, Melbourne VIC 3000

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