Fintech Douugh launches US wealth management advice service

Australian fintech Douugh (ASX:DOU) has continued its US expansion plans launching  a Douugh Wealth, an integrated robo-advisory investment service, as part of its app

Founder and CEO Andy Taylor said the launch of Douugh Wealth “a critical milestone on our journey to becoming a truly global ‘responsible’ financial super app” to help users manage their finances.

“For too long, sophisticated wealth management has been a privilege reserved for the top 1%. Douugh Wealth democratises the path toward financial health for everyone regardless of where they start their wealth journey,” Taylor said .

“As a fiduciary platform that puts customer goals at its centre, our customers can be confident Douugh has their best interests in mind regardless of the size of their portfolio.”

Douugh’s Wealth Portfolio Jars offer investment solutions for personal investing goals for a monthly membership fee, with no brokerage or management fees. The diversified portfolios are focused on disruptive technologies and sustainability.

Portfolio Jars offer investors a choice between core or sustainable portfolios with conservative, moderate, or aggressive options, curated by Douugh’s investment team.

The fintech’s Head of Wealth Tom Culver said they designed Dough Wealth to be personalised, goals-based, engaging so users learn how to invest

“Douugh Wealth’s core investment philosophy is straightforward and based on the understanding that the generation we belong to will be forever influenced by a rapidly changing path adapting to technological innovation and sustainability factors on an almost daily basis,” he said.

“We believe that a well diversified, balanced portfolio tilted to emphasise exposure to innovative and highly defensible technology and sustainably focused themes may lead to superior long term investment returns.”

Douugh users can now spend, save and invest on Autopilot on the one app with the company saying more features and enhancements are in the works.

The self-described “next-generation neobank” and AI-driven financial wellness app listed on the ASX in September last year.

Douugh launched in 2016.