FAQ | Spriggy Invest

Frequently Asked Questions

What is Spriggy Invest?

Spriggy Invest is an investment platform built for families. At Spriggy, we believe that planning for your kids' future is important for getting them started on the right foot. By providing you with a simple set of investment options and a simple way to set a recurring investment we remove the complexity from investing for the future.

How does Spriggy Invest work?

When you invest for your kids, grandchildren, nieces or nephews you’re investing in either our Aussie Top Stocks or Global Technology investment options. They’re two options that we’ve selected that give you an opportunity to invest in some top Aussie companies, for example Woolworths, Commonwealth Bank and Telstra; as well as some big international companies like Apple, Amazon and Facebook.
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Unlike investing in a single company, our investment options invest through ETFs. Long story short, an ETF allows you to invest a small amount (minimum $50 for Spriggy Invest) and have that amount spread across a larger number of companies. The benefit is any potential returns you see are based on the performance of multiple companies - instead of just one. Remember when they said don’t put all your eggs in the one basket! You need to review the PDS, that explains the benefits and risks associated with Spriggy Invest and to make sure it is right for you and your circumstances.

I’ve never invested before, how does it work?

We designed Spriggy Invest to be as simple as possible. All you need to do is sign up, read and confirm the disclosure documents, set up who you want to invest for, choose one of our investment options, and nominate how much, and how often you’d like to invest. We’ll handle the rest 😃. Like all investments, the investments you make through Spriggy Invest come with risk and you should make sure to read the PDS and seek appropriate financial advice, to make sure it is right for you.

What is an ETF?

An exchange-traded fund (ETF) is a type of investment fund that typically provides exposure to a large number of underlying securities selected in accordance with their investment strategy. ETFs provide a simple pathway for investors to diversify their portfolio into a large number of companies, markets and industries.

Why should I invest with Spriggy Invest?

We provide investment options that are built for families, giving you the ability to invest easily into both Australian and International companies. We also give you the option to make a single investment or set up an investment plan. With a plan you're able to put a little bit away either weekly, fortnightly or monthly. All you then need to do is sit back and watch your portfolio perform.

Remember, you need to make sure Spriggy Invest is right for you, please read the PDS and seek your own financial advice.

How do I withdraw my money?

When you’re ready to withdraw from Spriggy Invest you can do so from within the app. Under each child in the app, you can see their investment. By tapping on an investment you’ll see the option to withdraw. It will take 3-5 business days to land back in your connected bank account.

Why should my family use Spriggy Invest?

Spriggy Invest is a family first investment platform. When you use Spriggy invest, you’re investing not only for yourself, but also for your kids. Also as we grow, we want to make it easier for other family members to help contribute to your kids' future.

Who can use Spriggy Invest?

At the moment, we will only accept applications from Australian resident individuals of at least 18 years of age.

Could my kids withdraw the money?

No, only you, as the account holder, have the ability to make or withdraw investments.

How much does Spriggy Invest cost?

We charge a $2 fee on each investment and withdrawal under $1,000 and a 0.2% fee on each investment and withdrawal over $1,000*

*Other fees and costs may apply, like any fees charged by underlying products. Please read the PDS for details.

Who owns the investments?

The account holder with Spriggy Invest is the the adult who created the account. Therefore, they are the owner of the investment balance.

What about tax?

As the account holder, you’re responsible for all tax implications related to buying and withdrawing investments. When you earn a return through Spriggy Invest, you may earn income and other taxable amounts. When you decide to sell your investment, depending on if your proceeds result in a net gain or loss, you’ll need to calculate if you made a capital gain or capital loss for that financial year. When it’s tax time, we’ll email you a statement that should help you calculate this.

Do I need a HIN or CHESS account?

You don't need a HIN or CHESS account to invest with Spriggy Invest. Our investment products are not traded on the ASX. Even though you don’t need a HIN or CHESS account are the owner of your investments.

How does Spriggy Invest keep my money safe?

Spriggy Invest is operated and managed by Australian Financial Services licensees, Melbourne Securities Corporations Limited, which is the responsible entity for the fund, and Cache Investment Management Pty Ltd, which is the manger and administrator of the fund. All assets of the fund are held by a registered custodian. The PDS contains more details about the operation of the fund and risks for investors.

Still curious about Spriggy Invest?