Like many investors, I was using a brokerage platform from one of the big 4 banks.
It was slow, clunky and expensive!
Not anymore. I’m making the switch to Pearler, and I’ll tell you why.
Pearler was founded in 2018 by three mates in Sydney who wanted to create an easy way for Aussies to invest over the long term.
Here is what I love about Pearler:
- Pearler is CHESS sponsored.
- Brokerage is $9.50 (no matter how big the trade is).
- Long term investment focus.
- Auto investing capability.
You might be wondering what it means to be CHESS sponsored?
CHESS stands for Clearing House Electronic Subregister System.
In short, it means that you own the shares you purchase.
Many new investing apps which offer free trades aren’t CHESS sponsored and operate on a ‘custodian‘ model and they own the shares on your behalf. This may cause you some stress if the company goes bankrupt.
Being CHESS sponsored is a major plus for Pearler.
Brokerage for $9.50
Up until recently, I was paying $19.95 per trade.
Pealer recently announced that all trades will be $9.50!
With traditional brokerage, the more you invest the more you pay. Not with Pearler.
Although $10 might not seem like a lot, I invest every month. That’s $120 per year I save. It quickly adds up!
Long term investment focus
When you visit Pearler.com the first thing you see is the phrase “Get rich slow”.
That connects with me!
See, I’m not an active trader, I invest consistently over the long term.
I know I’m not going to get rich overnight, but in 10 -20 years I’ll wake up with a nice investment portfolio and a solid income stream from my investments.
I like supporting companies that have similar values to mine.
I’m a boring investor. I invest once each month into the same set of shares I chose a couple of years ago. I’m not alone, there are plenty of investors like me. And Pearler has us covered.
Pealer has an “Auto Investing’ feature that allows you to make automatic deposits into your investment account. You can choose to invest these funds immediately or when you reach a certain value.
It doesn’t stop there.
The auto investment feature will rebalance your portfolio, purchase the lowest-performing share in your portfolio or invest equally in your portfolio shares.
I personally haven’t started auto investing, but I plan to soon and I love that Pearler offer this feature.
Ready to check out Pearler?
If you’re starting your investment journey or sick of your old school broker, then it might be time to check out Pearler.
Pealer is quick to set up. I had my account ready to invest in under 48 hours (this included a new HIN).