ModernAdvisor

ModernAdvisor

January 27, 2016 09:00 ET

ModernAdvisor Launches Canada's First Online Financial Advisor to Offer Responsible Investment Portfolios

Canadian fintech company targets digital age investor, offering a more honest way to invest

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 27, 2016) - ModernAdvisor today announced the launch of Canada's first online financial advisor to offer responsible investment options. ModernAdvisor's mission is to provide a more honest way to invest by offering transparent, unbiased investment management services. The company uses technology to bring Canadians intelligent investing at a fraction of the cost of a traditional advisor.

"We've seen firsthand the growing market demand for portfolio options that extend beyond the bottom line, allowing clients to be a catalyst for change while making sure their portfolio is positioned for growth," said Navid Boostani, founder and CEO of ModernAdvisor. "Equally important to our clients: smart technology, accessibility and of course transparency - all areas we cover in spades."

ModernAdvisor offers a low minimum investment and aggressively low fees, ranging from 0.35 per cent to 0.50 per cent per year, a fraction of what the average mutual fund costs in Canada. The company uses technology to create personalized, diversified and optimized ETF portfolios for its clients. ModernAdvisor rebalances clients' portfolios in response to changing market conditions to ensure their investments remain suitable for their financial goals. Canadians can use the service as a hassle-free way to manage their RRSP, TFSA and taxable accounts.

Clients will be able to monitor daily updates on their investments through the ModernAdvisor app, which is now available in the App Store for iOS. ModernAdvisor has tailored its offering to digital age investors - millennials and digital-savvy members of Gen X - who not only care about what they're investing in, but also want to see data supporting their portfolio's management.

ModernAdvisor offers responsible investment options via ESG portfolios, as well as Canadian and emerging market bond ETFs and real estate investment trusts (REITs). Options will include investments in the iShares Jantzi Social Index ETF; iShares MSCI KLD 400 Social ETF; iShares 1-5 Year Laddered Government Bond Index ETF; and Vanguard FTSE Canadian Capped REIT Index ETF. The company will also offer the BMO Emerging Markets Bond Hedged to CAD Index ETF. The indexes used by the ETFs chosen for the responsible portfolios were created by industry leaders in the ESG marketplace.

"As we grow, we'll look to increase our portfolios beyond ESG, into the expanded realm of impact investing. Right now, we're pleased to be the first online investment management platform in Canada to offer portfolio options to the socially conscious investor," added Boostani.

ModernAdvisor raised $2.2 million in the fall of 2015 in its Series A funding round. Investors included Moray Keith and Jim Bond. Canadians can visit ModernAdvisor.ca today to open an account or preview the service including a personalized asset allocation recommendation, free of charge. ModernAdvisor is registered in all Canadian provinces and the Northwest Territories.

About ModernAdvisor

ModernAdvisor is an online financial advisor helping Canadians invest the way they want to. The first to offer responsible investing options via ESG (environmental, social, governance) portfolios, we're making investing how it should have always been - transparent, low-cost and accessible. ModernAdvisor is registered in all Canadian provinces and the Northwest Territories.

About ESG portfolios

ESG portfolios look beyond just profitability. ESG portfolios place a heavy emphasis on finding investments that meet strict standards for environmental, social and governance criteria. Companies that rank high on ESG factors are thought to outperform companies that score low on ESG factors over the long-term. Environmental factors include climate change and carbon emissions, air and water pollution, energy efficiency and waste management. Social factors include labour standards, workplace diversity, product safety, human rights practices, community relations and corporate philanthropy. Governance factors examine executive compensation, board composition, board accountability, shareholder rights and corruption.

Contact Information

  • Media Contact:
    Melissa Orozco / Esther Tung
    Media Relations Manager
    media@modernadvisor.ca
    Phone: 604.558.1656
    Cell: 778.968.0503