1 00:00:03,380 --> 00:00:06,500 Sean Aylmer: Welcome to the Fear and Greed Daily Interview. I'm Sean Aylmer. 2 00:00:06,740 --> 00:00:09,680 Sean Aylmer: We've spoken about investing in markets all over the globe 3 00:00:09,680 --> 00:00:12,410 Sean Aylmer: from the United States and Europe to Asia and of course, 4 00:00:12,410 --> 00:00:15,590 Sean Aylmer: here on the ASX. But we've never really spoken about 5 00:00:15,590 --> 00:00:18,980 Sean Aylmer: investing in our closest neighbour, New Zealand. Many of the 6 00:00:18,980 --> 00:00:22,520 Sean Aylmer: top companies on New Zealand's exchange, that's the NZX, are 7 00:00:22,520 --> 00:00:26,060 Sean Aylmer: dual-listed on the ASX, the likes of A2 Milk, Air 8 00:00:26,060 --> 00:00:30,350 Sean Aylmer: New Zealand and Kathmandu. But the majority aren't. Now Kiwi 9 00:00:30,350 --> 00:00:34,490 Sean Aylmer: company Sharesies is giving everyday Aussies easy access to invest 10 00:00:34,490 --> 00:00:37,280 Sean Aylmer: across the ditch as well as Australian and US stocks, and, of course, ETFs (Exchange Traded Funds). 11 00:00:39,050 --> 00:00:42,199 Sean Aylmer: The platform now has over 400,000 users and more than 12 00:00:42,200 --> 00:00:47,120 Sean Aylmer: $1.5 billion dollars in Funds Under Management. Sharesies co-founder and co-CEO 13 00:00:47,120 --> 00:00:50,180 Sean Aylmer: Leighton Roberts joins me this morning to discuss investing in 14 00:00:50,180 --> 00:00:52,070 Sean Aylmer: the land of the long white cloud. Leighton, welcome to 15 00:00:52,070 --> 00:00:52,710 Sean Aylmer: Fear and Greed. 16 00:00:53,000 --> 00:00:55,100 Leighton Roberts: Thanks so much for having me, Sean. Real pleasure to 17 00:00:55,100 --> 00:00:55,400 Leighton Roberts: be here. 18 00:00:55,730 --> 00:00:56,900 Sean Aylmer: Where are you based, Leighton? 19 00:00:57,260 --> 00:01:00,080 Leighton Roberts: We're based in Wellington. I've actually just come off three 20 00:01:00,080 --> 00:01:03,140 Leighton Roberts: months in Sydney, so I'm in a managed isolation on 21 00:01:03,140 --> 00:01:05,750 Leighton Roberts: my return back to Wellington. So I'm in Auckland at 22 00:01:05,750 --> 00:01:06,110 Leighton Roberts: the moment. 23 00:01:06,440 --> 00:01:09,890 Sean Aylmer: Tell me, Sharesies, is it similar to other micro-investing platforms 24 00:01:09,890 --> 00:01:10,490 Sean Aylmer: like Raiz and CommSec Pocket? 25 00:01:12,230 --> 00:01:15,170 Leighton Roberts: It's a little bit different. So we consider ourselves somewhere 26 00:01:15,170 --> 00:01:19,510 Leighton Roberts: in between Raiz and more standard broking platforms like CommSec. 27 00:01:19,520 --> 00:01:22,730 Leighton Roberts: So we are a participant of the exchange in New Zealand. 28 00:01:22,819 --> 00:01:26,869 Leighton Roberts: So we're clearing and trading everything in the ASX. We 29 00:01:26,870 --> 00:01:30,530 Leighton Roberts: do our trading and clearing through CMC (CMC Markets), so we have 30 00:01:30,920 --> 00:01:33,710 Leighton Roberts: integration through there. And in the US we use a 31 00:01:33,709 --> 00:01:37,640 Leighton Roberts: company called DriveWealth. So what's similar about us is the access level. So, 32 00:01:37,670 --> 00:01:40,640 Leighton Roberts: with Sharesies you can literally invest into anything with one cent 33 00:01:40,640 --> 00:01:42,980 Leighton Roberts: if you want. Most people don't, but technically you can. 34 00:01:43,490 --> 00:01:45,350 Leighton Roberts: But we do offer the full range. We've got about 35 00:01:45,350 --> 00:01:47,720 Leighton Roberts: six and a half thousand, maybe more, it sort of grows 36 00:01:47,720 --> 00:01:50,570 Leighton Roberts: by the day, options on the platform. So we define 37 00:01:50,570 --> 00:01:53,480 Leighton Roberts: ourselves as a wealth development platform. So that's what we're 38 00:01:53,480 --> 00:01:56,480 Leighton Roberts: built for, building up people to those wealth managers. And 39 00:01:56,630 --> 00:01:58,940 Leighton Roberts: it's not a platform that you might graduate off. And 40 00:01:58,940 --> 00:02:01,190 Leighton Roberts: it's not like a micro-investing platform like the ones you 41 00:02:01,190 --> 00:02:05,060 Leighton Roberts: mentioned where it's really promoted in the early, early days 42 00:02:05,060 --> 00:02:07,340 Leighton Roberts: and in a more passive approach, I suppose. 43 00:02:07,820 --> 00:02:12,410 Sean Aylmer: Okay, so your core audience is potentially a retail investor 44 00:02:12,560 --> 00:02:16,440 Sean Aylmer: who is active to some extent and has been you know, 45 00:02:16,460 --> 00:02:18,860 Sean Aylmer: you're not talking about my 20-year-old son who invested five 46 00:02:18,860 --> 00:02:20,690 Sean Aylmer: hundred dollars the other day. You're kind of talking about 47 00:02:20,690 --> 00:02:22,730 Sean Aylmer: people with bigger amounts and that type of thing, is 48 00:02:22,730 --> 00:02:23,100 Sean Aylmer: that right? 49 00:02:23,300 --> 00:02:26,090 Leighton Roberts: Yeah, that's exactly right. So we literally have people of 50 00:02:26,090 --> 00:02:30,080 Leighton Roberts: all ages, but our big demographic is between 25 and 51 00:02:30,080 --> 00:02:34,460 Leighton Roberts: 40 probably. And the average trade size is around five 52 00:02:34,460 --> 00:02:37,070 Leighton Roberts: hundred dollars at a time. But we have everyone we 53 00:02:37,070 --> 00:02:39,260 Leighton Roberts: have people with millions of dollars in their portfolios right 54 00:02:39,260 --> 00:02:41,210 Leighton Roberts: through to people just getting started with a few bucks 55 00:02:41,210 --> 00:02:41,839 Leighton Roberts: for their children. 56 00:02:42,230 --> 00:02:45,050 Sean Aylmer: Okay. So as I sit here in Australia and I 57 00:02:45,050 --> 00:02:48,679 Sean Aylmer: probably haven't thought enough about New Zealand listed companies outside 58 00:02:48,680 --> 00:02:51,320 Sean Aylmer: the Kathmandu's and A2 Milk's and Air New Zealand, the 59 00:02:51,320 --> 00:02:55,190 Sean Aylmer: ones that we know locally here. Why should Australia consider 60 00:02:55,190 --> 00:02:58,750 Sean Aylmer: listings in New Zealand? And maybe even before that, you know, 61 00:02:58,760 --> 00:03:00,680 Sean Aylmer: tell us a little bit about the exchange. I'd imagine 62 00:03:00,680 --> 00:03:03,800 Sean Aylmer: there's plenty of agricultural firms on it. For example, I mean, dairy, 63 00:03:03,800 --> 00:03:04,359 Sean Aylmer: that type of thing. 64 00:03:04,940 --> 00:03:08,329 Leighton Roberts: Yeah, the exchange is quite export focussed as you'd expect. 65 00:03:08,330 --> 00:03:10,610 Leighton Roberts: And you've sort of said, as you mentioned earlier, a 66 00:03:10,610 --> 00:03:14,170 Leighton Roberts: lot of the larger ones do list on both the NZX 67 00:03:14,180 --> 00:03:17,300 Leighton Roberts: and the ASX. But interestingly, despite that, there's not as much 68 00:03:17,300 --> 00:03:20,330 Leighton Roberts: involvement from Australia as you might think. Well, certainly what 69 00:03:20,330 --> 00:03:22,850 Leighton Roberts: we are seeing through our platform into those big companies, 70 00:03:23,300 --> 00:03:26,420 Leighton Roberts: but our exchange is much smaller. It's starting to grow 71 00:03:26,419 --> 00:03:30,200 Leighton Roberts: again now, which is really exciting to see. We've interestingly 72 00:03:30,200 --> 00:03:34,070 Leighton Roberts: got a few quite good pharmaceutical options as well or 73 00:03:34,130 --> 00:03:38,030 Leighton Roberts: really innovating in that space. Unfortunately, we have lost a 74 00:03:38,030 --> 00:03:40,240 Leighton Roberts: few of the tech ones and the sort of ones like 75 00:03:40,250 --> 00:03:43,220 Leighton Roberts: Rocket Lab over to the US or some tech ones over 76 00:03:43,220 --> 00:03:46,670 Leighton Roberts: to Australia, but we're really growing that again now. The big 77 00:03:46,670 --> 00:03:49,550 Leighton Roberts: thing for the New Zealand exchange has been dividend-yielding stocks 78 00:03:49,550 --> 00:03:52,310 Leighton Roberts: and consistency. So there's also a lot of you know, 79 00:03:52,330 --> 00:03:55,130 Leighton Roberts: it's a real blue-chip exchange, really like some really good 80 00:03:55,130 --> 00:04:00,320 Leighton Roberts: dividend-paying stocks, reliable sort of through thick and thin. And, 81 00:04:00,440 --> 00:04:03,230 Leighton Roberts: you know, I think particularly for people looking for yield 82 00:04:03,230 --> 00:04:06,530 Leighton Roberts: and stability, the NZ exchange, the companies that are listed here, 83 00:04:06,530 --> 00:04:09,350 Leighton Roberts: whether you access them from Australia on the ASX or New Zealand, 84 00:04:09,620 --> 00:04:11,300 Leighton Roberts: are really, really great companies for that. 85 00:04:11,750 --> 00:04:14,240 Sean Aylmer: So can you give us some and we are not 86 00:04:14,240 --> 00:04:18,279 Sean Aylmer: a financial advice podcast, so please use a financial adviser, 87 00:04:18,290 --> 00:04:19,760 Sean Aylmer: anyone out there, But can you give us some of 88 00:04:19,760 --> 00:04:21,159 Sean Aylmer: the names that you're talking about? 89 00:04:21,500 --> 00:04:24,289 Leighton Roberts: Yeah. Yeah. So there's a company called True Screen, which 90 00:04:24,290 --> 00:04:26,810 Leighton Roberts: is a company that's been on the exchange for some 91 00:04:26,810 --> 00:04:30,050 Leighton Roberts: time now, actually. And like I say, it's a medical 92 00:04:30,050 --> 00:04:33,410 Leighton Roberts: research company and that's been around for ten years. But 93 00:04:33,410 --> 00:04:36,380 Leighton Roberts: it's recently got a new CEO and has recently raised 94 00:04:36,380 --> 00:04:39,170 Leighton Roberts: capital again. So it's actually really early stage. And I 95 00:04:39,170 --> 00:04:41,570 Leighton Roberts: know that Australia's got quite a few small companies on there, 96 00:04:41,570 --> 00:04:44,060 Leighton Roberts: but I think in New Zealand there have been examples 97 00:04:44,060 --> 00:04:48,260 Leighton Roberts: of companies that listed much earlier. So that's just one example. 98 00:04:48,260 --> 00:04:50,660 Leighton Roberts: But like I say, the big area for the New 99 00:04:50,660 --> 00:04:53,479 Leighton Roberts: Zealand exchanges is those dividend stocks. And, you know, I 100 00:04:53,480 --> 00:04:55,670 Leighton Roberts: think the index approach is really good. It's also interesting 101 00:04:55,670 --> 00:04:59,570 Leighton Roberts: to see how many people in Australia don't invest in 102 00:04:59,570 --> 00:05:02,520 Leighton Roberts: the New Zealand exchanges. One of those options. The index, 103 00:05:02,570 --> 00:05:06,020 Leighton Roberts: particularly our midcap, has performed really, really well over the 104 00:05:06,020 --> 00:05:06,710 Leighton Roberts: last few years. 105 00:05:07,390 --> 00:05:10,310 Sean Aylmer: So why do companies list in New Zealand rather than Australia? 106 00:05:10,310 --> 00:05:14,010 Sean Aylmer: Because it's pretty easy to do either one, I suppose. 107 00:05:14,029 --> 00:05:16,700 Sean Aylmer: What are the advantages of listing in New Zealand? And 108 00:05:16,700 --> 00:05:18,710 Sean Aylmer: then also I'm interested in what's the advantages of actually 109 00:05:18,710 --> 00:05:21,589 Sean Aylmer: buying on the NZX rather than the ASX, from my point 110 00:05:21,589 --> 00:05:21,859 Sean Aylmer: of view? 111 00:05:22,610 --> 00:05:25,700 Leighton Roberts: Yes. So from your point of view, I think, you know, 112 00:05:25,730 --> 00:05:28,640 Leighton Roberts: speaking honestly, if the company is listed on the ASX 113 00:05:28,640 --> 00:05:30,770 Leighton Roberts: or the NZX there's probably not a lot of difference 114 00:05:30,770 --> 00:05:33,589 Leighton Roberts: between what you're doing in fact for tax purposes and stuff, 115 00:05:33,589 --> 00:05:35,659 Leighton Roberts: it tends to make sense that you do it on 116 00:05:35,660 --> 00:05:38,240 Leighton Roberts: your local exchange. And unless you're doing it some through 117 00:05:38,240 --> 00:05:39,770 Leighton Roberts: some other sort of entity. 118 00:05:40,130 --> 00:05:43,609 Sean Aylmer: What can I get in on the NZX that I 119 00:05:43,610 --> 00:05:46,910 Sean Aylmer: can't really get on the ASX? So I certainly mostly 120 00:05:46,910 --> 00:05:49,250 Sean Aylmer: I would invest on the ASX simply because I'm a 121 00:05:49,250 --> 00:05:52,130 Sean Aylmer: resident of Australia. It just makes it simpler. But there 122 00:05:52,130 --> 00:05:56,420 Sean Aylmer: must be attributes of the NZX where if I invest 123 00:05:56,570 --> 00:05:58,850 Sean Aylmer: on the New Zealand exchange, I'm getting stuff that's harder 124 00:05:58,850 --> 00:05:59,990 Sean Aylmer: to find on the ASX. 125 00:06:00,660 --> 00:06:03,620 Leighton Roberts: Yes. So you're right on the export stuff and the 126 00:06:03,620 --> 00:06:06,469 Leighton Roberts: agriculture we have, we have a really large export market. 127 00:06:06,470 --> 00:06:08,510 Leighton Roberts: And I think one of the things that has scared 128 00:06:08,510 --> 00:06:11,950 Leighton Roberts: a few people off investing into them is sometimes the currency. So, 129 00:06:12,380 --> 00:06:15,740 Leighton Roberts: the New Zealand currency right now, again, actually is quite high. 130 00:06:15,740 --> 00:06:18,589 Leighton Roberts: But I think sometimes it's misunderstood that the companies are 131 00:06:18,589 --> 00:06:21,440 Leighton Roberts: actually really well covered or hedged by the fact that 132 00:06:21,440 --> 00:06:24,859 Leighton Roberts: they're primarily exporters anyway. The other really interesting ones, I think, 133 00:06:24,860 --> 00:06:27,349 Leighton Roberts: are the infrastructural based ones in New Zealand. So there 134 00:06:27,350 --> 00:06:31,400 Leighton Roberts: is a like I say, those infrastructure stocks. The large 135 00:06:31,400 --> 00:06:34,430 Leighton Roberts: ones once again, are primarily available on the ASX as well. 136 00:06:34,430 --> 00:06:36,950 Leighton Roberts: But it's really hunting those ones out as they come 137 00:06:36,950 --> 00:06:38,980 Leighton Roberts: up in the early days that are available on the NZX. 138 00:06:38,990 --> 00:06:41,360 Leighton Roberts: But the big thing as Australians, regardless of whether they're 139 00:06:41,480 --> 00:06:44,720 Leighton Roberts: dual-listed on ASX or NZX, just aren't tending to be 140 00:06:44,720 --> 00:06:46,849 Leighton Roberts: investing in those companies as much as what we would expect. 141 00:06:47,120 --> 00:06:49,810 Sean Aylmer: OK. And are you seeing a growth in retail investors? 142 00:06:49,820 --> 00:06:55,099 Sean Aylmer: It's certainly anecdotally the pandemic has pushed people to invest 143 00:06:55,100 --> 00:06:56,930 Sean Aylmer: more on the retail side. Are you seeing that? 144 00:06:57,560 --> 00:07:00,110 Leighton Roberts: Yeah, we are. So there's so Sharesies now has over 145 00:07:00,110 --> 00:07:04,370 Leighton Roberts: 400,000 investors on the platform in New Zealand, which no 146 00:07:04,370 --> 00:07:07,280 Leighton Roberts: one really got burnt like the New Zealand Stock Exchange 147 00:07:07,640 --> 00:07:10,610 Leighton Roberts: with regard to 1987. And that was pure attitudes based. Like 148 00:07:10,610 --> 00:07:13,820 Leighton Roberts: people it took 10 years for the market to recover. 149 00:07:13,820 --> 00:07:15,890 Leighton Roberts: The US did it in two and I think Australia was 150 00:07:15,890 --> 00:07:19,160 Leighton Roberts: something like three or four. Even now actually after the COVID, 151 00:07:19,340 --> 00:07:22,430 Leighton Roberts: the NZX is still down year on year and it's 152 00:07:22,430 --> 00:07:23,720 Leighton Roberts: hard to see why that is when you look at 153 00:07:23,720 --> 00:07:27,020 Leighton Roberts: Australia hitting new highs, I think again yesterday. And same 154 00:07:27,020 --> 00:07:29,470 Leighton Roberts: with the US. So there's definitely just a slower pace 155 00:07:29,480 --> 00:07:32,360 Leighton Roberts: to recovery here. So that's a really interesting opportunity for 156 00:07:32,360 --> 00:07:34,520 Leighton Roberts: the Australian investors to look into. The other thing is 157 00:07:34,520 --> 00:07:36,679 Leighton Roberts: there's not a lot for those who are investing in 158 00:07:36,680 --> 00:07:39,290 Leighton Roberts: funds or like to diversify in that way, but there's 159 00:07:39,290 --> 00:07:42,470 Leighton Roberts: not a lot of NZX access through the ETFs in Australia. 160 00:07:42,710 --> 00:07:44,540 Leighton Roberts: So that is one thing that I think people could 161 00:07:44,540 --> 00:07:46,760 Leighton Roberts: be looking to the New Zealand exchange specifically for. 162 00:07:47,150 --> 00:07:49,670 Sean Aylmer: Yeah, Okay. Stay with me, Leighton. We'll be back in 163 00:07:49,670 --> 00:07:50,030 Sean Aylmer: a minute. 164 00:07:55,010 --> 00:07:58,310 Sean Aylmer: My guest this morning is Leighton Roberts, co-founder and co-CEO 165 00:07:58,310 --> 00:08:02,870 Sean Aylmer: of Sharesies. Now, Leighton, your background is pretty typical or what you'd 166 00:08:02,870 --> 00:08:06,290 Sean Aylmer: expect in terms of having worked at Kiwibank previously. But 167 00:08:06,290 --> 00:08:08,570 Sean Aylmer: you were actually a musician in the New Zealand Army for 168 00:08:08,570 --> 00:08:09,860 Sean Aylmer: five years. Is that right? 169 00:08:10,310 --> 00:08:12,830 Leighton Roberts: Yeah, yeah. Bit of an odd, that's where I ended 170 00:08:12,830 --> 00:08:14,630 Leighton Roberts: up after school. So I played the trumpet since I 171 00:08:14,630 --> 00:08:18,470 Leighton Roberts: was about eight and spent basically my whole high school 172 00:08:18,470 --> 00:08:20,120 Leighton Roberts: job just trying to get good at that. So I 173 00:08:20,120 --> 00:08:23,000 Leighton Roberts: ended up in the Army as a musician. Pretty unique job, 174 00:08:23,000 --> 00:08:24,830 Leighton Roberts: but they were lucky enough to put me through university 175 00:08:24,830 --> 00:08:27,170 Leighton Roberts: and that's where I got into finance. So before picking up banking. 176 00:08:27,880 --> 00:08:31,310 Sean Aylmer: Oh, wow. And you also started a brew pub about the same time, 177 00:08:31,310 --> 00:08:32,479 Sean Aylmer: which you're still a director of. 178 00:08:33,140 --> 00:08:35,450 Leighton Roberts: Yeah, that's right. I'm interested in my craft beer. And 179 00:08:35,870 --> 00:08:37,400 Leighton Roberts: who knows, maybe one day that will be one of the 180 00:08:37,400 --> 00:08:41,840 Leighton Roberts: options I'm bullish on on the NZX with getting people 181 00:08:41,840 --> 00:08:44,930 Leighton Roberts: investing into. But no, Wellington's a very passionate beer place 182 00:08:44,929 --> 00:08:46,250 Leighton Roberts: and I'm part of that too. 183 00:08:46,530 --> 00:08:48,620 Sean Aylmer: I have been to a few places in Wellington and 184 00:08:48,620 --> 00:08:52,260 Sean Aylmer: I would agree that their focus on beer, I mean, 185 00:08:52,290 --> 00:08:54,500 Sean Aylmer: their knowledge of it is quite amazing. Not like your 186 00:08:54,500 --> 00:08:58,550 Sean Aylmer: typical pub in country New South Wales or Victoria. People are 187 00:08:58,550 --> 00:08:59,790 Sean Aylmer: serious about beer in Wellington. 188 00:09:00,140 --> 00:09:03,650 Leighton Roberts: Yeah, absolutely. With my time in Sydney, I was a 189 00:09:03,650 --> 00:09:05,329 Leighton Roberts: little bit disappointed, I suppose, at some of what I 190 00:09:05,330 --> 00:09:08,510 Leighton Roberts: got to experience round in the pubs. But Wellington is 191 00:09:08,510 --> 00:09:11,270 Leighton Roberts: really I mean, it's a bit snobby on its beer front. 192 00:09:11,420 --> 00:09:13,970 Sean Aylmer: And so the other thing about Sharesies that I want to mention, 193 00:09:13,970 --> 00:09:16,550 Sean Aylmer: it's a certified B Corporation, meaning you meet the highest 194 00:09:16,550 --> 00:09:20,809 Sean Aylmer: standards of verified social and environmental performance. And that's all 195 00:09:20,809 --> 00:09:23,300 Sean Aylmer: about balancing purpose with profit. 196 00:09:23,390 --> 00:09:23,660 Leighton Roberts: Yeah. 197 00:09:23,690 --> 00:09:25,790 Sean Aylmer: So Ben and Jerry's are examples of that. Stone & 198 00:09:25,790 --> 00:09:28,370 Sean Aylmer: Wood are another one. How does that work when you're 199 00:09:28,370 --> 00:09:29,480 Sean Aylmer: an investing platform? 200 00:09:30,170 --> 00:09:32,960 Leighton Roberts: Yeah, it definitely has an interesting compromise. So one of the 201 00:09:32,960 --> 00:09:35,150 Leighton Roberts: things we considered in our early days, we've been going 202 00:09:35,150 --> 00:09:36,920 Leighton Roberts: for just over four years now, was whether we would 203 00:09:36,920 --> 00:09:40,340 Leighton Roberts: become a platform that was for sustainable or ethical investing. 204 00:09:40,350 --> 00:09:42,920 Leighton Roberts: We felt like there's real, as we all know there has been 205 00:09:42,920 --> 00:09:44,010 Leighton Roberts: real momentum behind that. 206 00:09:44,059 --> 00:09:44,390 Sean Aylmer: Yeah. 207 00:09:44,600 --> 00:09:47,480 Leighton Roberts: But ultimately there was six founders of Sharesies and we 208 00:09:47,480 --> 00:09:51,109 Leighton Roberts: couldn't really agree on what, you know, these ethics or 209 00:09:51,110 --> 00:09:53,510 Leighton Roberts: sustainability measures might be, and we would draw the line 210 00:09:53,510 --> 00:09:55,010 Leighton Roberts: even between the six of us. And then once we 211 00:09:55,010 --> 00:09:57,870 Leighton Roberts: started to speak with other people, that became even more grey. 212 00:09:58,340 --> 00:10:01,160 Leighton Roberts: So ultimately, we decided to become a platform of choice 213 00:10:01,160 --> 00:10:02,870 Leighton Roberts: and we think that's the best place. So we try 214 00:10:02,870 --> 00:10:07,040 Leighton Roberts: to give people information. With regards to the B Corp, it's, there's 215 00:10:07,160 --> 00:10:09,920 Leighton Roberts: purpose and profit. Sharesies exists to create the most financially 216 00:10:09,920 --> 00:10:13,729 Leighton Roberts: empowered generation. We started when, you know, the Australian and 217 00:10:13,730 --> 00:10:16,460 Leighton Roberts: New Zealand media was all about where the house prices 218 00:10:16,460 --> 00:10:19,820 Leighton Roberts: were going, smashed avocado on toast was making too many headlines. 219 00:10:19,820 --> 00:10:23,300 Leighton Roberts: And our view and we're sort of classic millennial's and thought, look, 220 00:10:23,300 --> 00:10:24,980 Leighton Roberts: we feel like we can have a bit of both 221 00:10:24,980 --> 00:10:27,199 Leighton Roberts: here and we shouldn't have to be left out. And, 222 00:10:27,710 --> 00:10:30,020 Leighton Roberts: you know, it's just it's become such an intimidating world, 223 00:10:30,020 --> 00:10:33,380 Leighton Roberts: the world of investment. So we've really welcomed this retail wave. 224 00:10:33,380 --> 00:10:35,810 Leighton Roberts: I suppose it's happened in both of our countries and sort 225 00:10:35,809 --> 00:10:38,660 Leighton Roberts: of globally over the last 12 months in particular with 226 00:10:38,660 --> 00:10:41,000 Leighton Roberts: the access. And then the other thing is how we 227 00:10:41,000 --> 00:10:43,120 Leighton Roberts: operate as a company, what the culture is in the company, 228 00:10:43,150 --> 00:10:46,490 Leighton Roberts: the things we prioritise, but ultimately we believe it's perfectly 229 00:10:46,490 --> 00:10:49,429 Leighton Roberts: possible to be both purposeful and profitable. 230 00:10:49,840 --> 00:10:52,190 Sean Aylmer: Absolutely. Leighton, thank you for talking to Fear and Greed. 231 00:10:52,760 --> 00:10:53,719 Leighton Roberts: Thanks. Thanks, Sean. 232 00:10:54,200 --> 00:10:58,069 Sean Aylmer: That was Leighton Roberts, co-founder and co-CEO of Sharesies. This 233 00:10:58,070 --> 00:11:00,050 Sean Aylmer: is a Fear and Greed Daily Interview. Join me every 234 00:11:00,050 --> 00:11:02,540 Sean Aylmer: morning for the full Fear and Greed podcast with all 235 00:11:02,540 --> 00:11:05,210 Sean Aylmer: the business news you need to know. I'm Sean Aylmer. 236 00:11:05,360 --> 00:11:06,200 Sean Aylmer: Enjoy your day.