Robo Advisor comparison
Bloom Impact vs Raiz Invest
Bloom Impact and Raiz Invest are both robo-advice platforms that invest your money into managed fund portfolios, but they target very different investors. Bloom is a newer, climate-focused platform that charges a flat $4.50/month and only invests in ethical ETFs. Raiz is the established market leader with a $5.50/month fee, a much lower $5 minimum deposit, and features like round-ups and a kids account.
Choose
Bloom Impact
if…
- ›You want your investments aligned with climate impact and ethical screening — Bloom's entire portfolio is built around sustainability
- ›You're happy to start with $500 or more and want a simple flat fee with no percentage-based management costs
- ›You need a company, trust, or SMSF account structure — Bloom supports all three, Raiz only offers individual, SMSF and kids accounts
- ›You want dividend reinvestment (DRP) included — Bloom offers it, Raiz does not
- ›You prefer a newer, independent fintech founded in 2022 with a clear mission-driven ethos
Choose
Raiz Invest
if…
- ›You want the lowest possible barrier to entry — Raiz's minimum deposit is just $5
- ›You like the round-ups feature that invests your spare change automatically from everyday purchases
- ›You want to set up a kids or minor investment account — Raiz offers this, Bloom doesn't
- ›You prefer a publicly listed company (ASX: RZI) with a longer track record since 2016 and phone support as an option
- ›You want weighted/rebalancing auto-invest that adjusts contributions across your portfolio, not just a single asset
Where they differ
| Fact | Bloom Impact | Raiz Invest |
|---|---|---|
| Minimum initial deposit | $500 | $5 |
| Monthly platform fee | $4.50/month | $5.50/month |
| Account types | Individual, Company, Trust, SMSF | Individual, SMSF, Kids |
| Dividend reinvestment (DRP) | Yes | No |
| Auto-invest sophistication | Single asset level | Weighted/rebalancing |
Verdict
Choose Bloom for ethical investing and business accounts; choose Raiz for low barriers, round-ups, and a proven track record.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Bloom Impact | Raiz Invest |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | custodian | custodian |
| Individual account | Yes | Yes |
| Joint account | — | No |
| Company account | Yes | No |
| Trust account | Yes | No |
| SMSF account | Yes | Yes |
| Kids / minor account | — | 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 | ||
| Fractional shares (ASX) | — | Yes |
| Options trading | No | No |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | No | No |
| IPO access | No | No |
| costs hidden | ||
| Holds USD account | No | — |
| costs visible | ||
| ASX free trade conditions | — | Brokerage free across all plans — bulk ASX execution is bundled into the monthly subscription / management fee. No fees on deposits, withdrawals, or portfolio switches. |
| Monthly platform fee | $4.5/month | $5.5/month |
| Annual platform fee | $54/year | $66/year |
| Inactivity fee | — | $0 |
| Withdrawal fee (AUD) | — | $0 |
| identity and trust | ||
| Legal entity name | Bloom Impact Investment Services Pty Ltd | Raiz Invest Australia Limited |
| AFSL number | 514,360 | 434,776 |
| Year founded | 2,022 | 2,016 |
| 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 | Raiz Invest Limited (ASX: RZI) — Australian publicly listed parent |
| Country of incorporation | AU | AU |
| Public company status | private | public |
| money movement | ||
| Minimum initial deposit | $500 | $5 |
| Minimum subsequent purchase | — | $0 |
| Deposit methods | bank transfer, direct debit | bank_transfer, debit_card, round_ups, recurring_direct_debit |
| Settlement period | T+3 | T+2 (ASX) — applies to fund trading via the underlying ETFs; member contribution settles in ~1-2 business days into the fund. |
| Withdrawal time | 3-5 business days | 3-5 business days (T+2 ASX settle, then 1-3 days bank transfer) |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | No | No |
| Demo account | No | No |
| Free real-time market data | — | No |
| Free research reports | No | No |
| 2FA support | SMS only | SMS |
| Customer support channels | email, in-app | phone, email, in_app |
| Support hours (AU time) | Business hours (Mon-Fri AET) | Monday-Friday, 8:30am-5:30pm Sydney time |
| Education content | basic articles | basic articles |
| 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 | weighted/rebalancing |
| DRP (dividend reinvestment) | Yes | No |