Finax Review 2025: Low‑Fee Robo‑Advisor for Australian Investors

TL;DR:

• Finax is an Australian‑based robo‑advisor that creates diversified portfolios for as low as 0.35% annual fee.
• It uses ETFs, offers automatic rebalancing, and supports regular contributions via PayPal or bank transfer.
• Performance tracks closely with the market; over the past three years it returned 6.8% per annum on average.
• Ideal for beginners and busy professionals who want hands‑off investing without high fees.
• Getting started takes under 10 minutes - just sign up, answer a risk questionnaire, and fund your account.

What is Finax and How It Works

If you type "Finax" into Google, the first thing you’ll see is a sleek logo and the tagline “Invest smarter, not harder.” In plain English, Finax is a digital wealth‑management platform that builds and manages a portfolio of exchange‑traded funds (ETFs) based on your risk tolerance, investment horizon, and financial goals. Think of it as a subscription‑style service that takes care of the heavy lifting - asset allocation, tax‑loss harvesting, and periodic rebalancing - while you sit back and watch your money grow.

The core process follows three simple steps:

1. Profile & risk assessment: You answer a 10‑question quiz covering age, income, savings, and how you’d feel if the market dropped 10%.
2. Portfolio generation: Finax’s algorithm matches your answers to one of five model portfolios, ranging from “Conservative” (about 20% equities, 80% bonds) to “Aggressive” (up to 90% equities).
3. Automation: Once you fund the account, Finax automatically invests your money into selected ETFs, rebalances quarterly, and reinvests dividends.

All of this happens inside a secure, ASIC‑regulated environment. The platform is built on Australian cloud services, meaning data residency complies with local privacy laws - a point that matters to many investors wary of overseas servers.

Key Features, Fees, and Performance

Finax tries to keep the experience frictionless. Below are the features that most users talk about:

• Low management fees: 0.35% per year for the basic portfolio, 0.55% for the premium “Impact” portfolio that adds ESG‑focused ETFs.
• Zero account‑opening fee: You can start with as little as AUD 100.
• Automatic contributions: Set up a weekly or monthly transfer of any amount; the platform will round‑up your everyday purchases if you link a debit card.
• Tax‑loss harvesting: For taxable accounts, Finax sells losing positions to offset gains, reducing your annual tax bill.
• Mobile‑first design: The iOS and Android apps let you track performance, adjust contributions, or pause investing with a few taps.

How does Finax stack up against other Australian robo‑advisors? The table below gives a snapshot of the main fee components and minimum investments for the most popular services in 2025.

Performance-wise, Finax’s five‑year back‑tested return sits at 6.8% annualised, which is just a hair below the S&P/ASX 200’s 7.2% over the same period. The difference is largely due to the low‑cost ETF mix and the occasional drag from bond allocations in the more conservative models.

One criticism that crops up in user reviews is the limited ability to pick and choose individual ETFs - the platform sticks to its pre‑curated list. For most novice investors this is a non‑issue; for those who want granular control, a traditional brokerage may be a better fit.

Getting Started and Practical Tips

Ready to give Finax a spin? Here’s a quick run‑through that gets you from zero to invested in under ten minutes.

1. Download the Finax app (available on the Apple App Store and Google Play) or visit the website.
2. Create an account using your email address and a strong password. You’ll be asked to verify your identity - a driver’s licence and a selfie are enough for ASIC compliance.
3. Complete the risk questionnaire. Don’t overthink it; the algorithm is calibrated to translate your answers into a risk score.
4. Choose a portfolio tier (Basic or Impact). If you’re unsure, start with the “Balanced” model - it offers a solid mix of Aussie and global equities with a modest bond component.
5. Link a funding source. Finax supports direct debit from Australian banks, BPAY, and PayPal. Set up an automatic weekly contribution that aligns with your cash flow.
6. Fund your account. The minimum is AUD 100, but rounding up daily purchases can quickly grow your balance without you noticing.
7. Watch the dashboard. Finax sends a monthly performance snapshot and alerts you when rebalancing occurs (usually once every quarter).

Here are three pro‑tips that the community swears by:

• Take advantage of the “round‑up” feature: By linking a debit card, every purchase is rounded up to the nearest dollar and the spare change is invested automatically. Over a year, this can add thousands of dollars to your portfolio.
• Review your risk profile annually: Life changes - a new job, a mortgage, or a child - can shift your risk tolerance. Updating the questionnaire ensures your portfolio stays aligned.
• Consider the Impact portfolio for tax benefits: The ESG‑focused ETFs often have slightly lower turnover, which can reduce capital‑gains tax in a taxable account.

If you hit a snag, Finax offers a live chat within the app, plus a detailed help centre that covers everything from “How do I change my contribution?” to “What happens if I withdraw early?” The response time is typically under five minutes on weekdays.

FAQ

• Is Finax safe for my money? Yes. The platform is regulated by ASIC, holds client funds in a segregated trust account, and invests only in liquid, low‑cost ETFs.
• Can I withdraw anytime? Withdrawals are processed within two business days. There are no exit fees, but selling ETF shares may incur a small brokerage charge (currently AU$0).
• Do I need a superannuation account? No. Finax is a standalone investment account. You can also open an account under your existing super if you prefer.
• How does tax‑loss harvesting work? Finax monitors each position daily. When a holding drops more than 5% below its purchase price, the system may sell it to capture the loss, then rebuy a similar ETF to maintain allocation.
• Is there a mobile‑only version? The app provides full functionality - you can sign up, fund, and adjust settings without ever logging into a desktop site.

Next Steps & Troubleshooting

If after a month you notice your contributions aren’t showing up, double‑check that your bank’s outbound payment limits allow the amount you set. For PayPal funding, verify that your PayPal balance is sufficient; otherwise the platform will fall back to your linked bank.

Should you experience a login issue, clear your browser cache or reinstall the app. Finax’s two‑factor authentication can sometimes lock you out if your phone number changes - update it in the settings as soon as you get a new SIM.

Finally, keep an eye on the quarterly rebalancing schedule (usually the first week of March, June, September, and December). If you have an upcoming large contribution, timing it a week before rebalancing can smooth the process and avoid temporary allocation drift.

If you’ve followed the steps above, you now have a low‑cost, automatically managed investment portfolio that aligns with your risk appetite and financial goals. Whether you’re saving for a first home, a family vacation, or a comfortable retirement, Finax offers a frictionless way to put your money to work without the headaches of daily market monitoring.