Robo Advisor comparison
Bloom Impact vs InvestSMART Robo Advice
The biggest practical difference between these two robo-advisers is the price tag. Bloom Impact charges a flat $4.50 a month ($54/year) with a $500 minimum, making it one of the cheapest ways to get started with ethical managed funds. InvestSMART Robo Advice costs $880 a year and requires a $10,000 minimum, but it's CHESS-sponsored (you own the underlying ETFs in your own HIN) and offers a broader range of asset classes including bonds.
Choose
Bloom Impact
if…
- ›You want the lowest ongoing fee in the robo-advice space at just $54 a year
- ›You're starting small — the $500 minimum is far more accessible than the $10,000 barrier
- ›You want an impact-focused portfolio that invests in sustainable and ethical managed funds
- ›You prefer a simple, app-first experience with auto-invest at the single asset level
Choose
InvestSMART Robo Advice
if…
- ›You want true CHESS sponsorship so the ETFs are held in your own name on the ASX register, not in a custodian model
- ›You're investing $10,000 or more and want access to a wider range including bonds alongside managed funds
- ›You value extensive educational content and phone/live chat support over a basic app-only experience
- ›You need a desktop platform and prefer optional 2FA rather than SMS-only
Where they differ
| Fact | Bloom Impact | InvestSMART Robo Advice |
|---|---|---|
| Annual platform fee | $54/year | $880/year |
| Minimum initial deposit | $500 | $10,000 |
| CHESS sponsorship | Custodian model | CHESS-sponsored |
| Bonds supported | No | Yes |
| Dividend reinvestment (DRP) | Yes | No |
Verdict
Choose Bloom for cheap, ethical, low-minimum investing; choose InvestSMART if you have $10k+ and want CHESS ownership and broader asset classes.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Bloom Impact | InvestSMART Robo Advice |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | custodian | chess |
| Individual account | Yes | Yes |
| Joint account | — | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| asset coverage | ||
| ASX shares supported | No | No |
| ASX ETFs supported | No | Yes |
| US shares supported | No | No |
| US ETFs supported | No | No |
| Other markets supported | AU | |
| Fractional shares (US) | — | No |
| Options trading | No | No |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | No | Yes |
| IPO access | No | No |
| costs hidden | ||
| Holds USD account | No | No |
| Market data fees | — | $0/month |
| costs visible | ||
| Monthly platform fee | $4.5/month | — |
| Annual platform fee | $54/year | $880/year |
| identity and trust | ||
| Legal entity name | Bloom Impact Investment Services Pty Ltd | InvestSMART Funds Management Ltd |
| AFSL number | 514,360 | 246,441 |
| Year founded | 2,022 | 1,999 |
| Parent / ownership | Independent / privately held (founders Camille Socquet-Clerc and Bertrand Caron); seed investors including angel investors and ex-FutureSuper founder Adam Verwey as Executive Director | InvestSMART Group Limited (ASX:INV) - publicly listed parent |
| Country of incorporation | AU | AU |
| Public company status | private | public |
| money movement | ||
| Minimum initial deposit | $500 | $10,000 |
| Minimum subsequent purchase | — | $100 |
| Deposit methods | bank transfer, direct debit | BPAY, Direct Debit |
| Settlement period | T+3 | T+2 |
| Withdrawal time | 3-5 business days | 4-5 business days |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | No | Yes |
| Demo account | No | No |
| Free real-time market data | — | No |
| Free research reports | No | Yes |
| 2FA support | SMS only | optional |
| Customer support channels | email, in-app | phone, email, live chat |
| Support hours (AU time) | Business hours (Mon-Fri AET) | 9:00am-5:30pm AEST Mon-Fri |
| Education content | basic articles | extensive |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | Yes |
| CGT calculator / report | — | Yes |
| Sharesight / Navexa integration | — | No |
| trading mechanics | ||
| Auto-invest / DCA | Yes | Yes |
| Auto-invest sophistication | single asset | basic |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | — | No |