Hybrid advice business Life Sherpa has partnered with OpenInvest to launch a managed investment portfolio solution for lower balance accounts.

Life Sherpa will offer four diversified investment portfolios that cover a range of risk/return profiles and require a minimum of only $5,000 to get started.

The business’s model cuts advice costs by blending self-help tools with human advisers as required. The online investing solution allows people to access expert-managed portfolios and investment updates at a low cost.

Life Sherpa offers access to four investment portfolios, managed by the Life Sherpa investment team. The portfolios have a management fee of 0.65 per cent.

OpenInvest is a fintech investment platform that enables its partners to offer managed portfolios to investors, either via the OpenInvest marketplace or via their own online white label solution.

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