Alan Kohler joins InvestSMART as Editor-in-Chief
InvestSMART acquires The Constant Investor.
Some exciting news: I’m returning to Eureka Report!
InvestSMART has acquired my new publication, The Constant Investor, and will start making my content available to Essentials subscribers from next week.
I started Eureka Report in 2005 (with a bit of help from my friends) and I will now become InvestSMART’s Editor-in-Chief, including Eureka Report, and a significant shareholder of the company.
As part of the deal I am delighted to be writing for Eureka Report again after a two-year absence.
More importantly, I’m looking forward to becoming a member of the InvestSMART team – helping with strategy and thinking about the guidance and ideas you need as an investor. I will also be available to answer your questions in webcasts and seminars around the country.
Eureka Report was sold to News Corporation along with my other publication, Business Spectator, in 2012 and InvestSMART bought it from News in 2016. I left to start The Constant Investor, having served a four-year contract with News.
Owning 100% of the business and not having to answer to anybody has been great, but I must say I’m really looking forward to working with InvestSMART chairman Paul Clitheroe and CEO Ron Hodge and the rest of the team again and helping to make InvestSMART’s services the best they can be.
And it’ll be great to get to know you again – all those who were members back in 2016 and the new ones.
The final sealer on the deal was InvestSMART’s decision a few weeks ago to cap the fees on its investment products at $451 per year. As you might know, I have been campaigning against percentage fees for a while now because of the way they compound along with investment returns and end up costing way too much.
To date percentage fees have been an exercise in cross-subsidisation from large balance clients to small balance clients, which in my mind is not fair to larger balanced clients. InvestSMART with its innovative investment platform has worked out how to solve this problem and simply capped the fee, starting at $99 to $451 p.a., with a low percentage fee of 0.55% in between.
So, Paul and Ron have not only been in possession of my first baby, they are fully aligned with my philosophy on investing – the need to move away from percentage fees that keep on compounding to a simple subscription for investment management services, as well as editorial content and research for those who want to invest on their own.
With my feet back under the Eureka desk next week I look forward to bringing you my weekly market commentary, CEO Interviews, weekly Live Q&A and lots more.
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