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Foresters Financial targets young investors

Yasmine Masi18 October 2023
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Foresters Financial has sealed a partnership with mobile investment platform, Tanggram, and launched its Education Bond in an effort to reach more young female investors.

The bond provides a tax-effective way for families to gather funds for their children’s education across tuition fees, accommodation, travel or equipment by acting as a “scholarship plan”, where the bond administrator gains a tax deduction that passed on to the investor when they withdraw funds.

“The Tanggram investment app – was launched in 2020 and has about 70,000 subscribers – has a user profile that was very enticing for us,” Foresters Financial CEO, Emma Sakellaris, said.

“The average age of users is 32 of which 90 per cent fall between the ages of 20 and 40. In addition, with 80 per cent being female investors, it’s obviously a demographic that we believe will be attracted to the Education Bond.

“Foresters current target market for the Education Bond are high-net-wealth investors who tend to be older. With the Tangram investment app, we believe we have a complementary strategy to tap into a new consumer market of younger, tech-savvy investors.

“An education bond allows for a long-term savings plan for families to plan and invest in their future generations educational outcomes, capabilities and reduce financial stress.

“Certainly, we are convinced that Tanggram, fintech pioneers in this space, is the correct investment avenue to reach this audience.”

Sakellaris said the bond also provides further flexibility through tax benefits and in estate planning and generational wealth transfer.

“I’m absolutely delighted to participate in this ground-breaking partnership between Foresters Financial and Tanggram,” Tanggram Founder and CEO, Nick Tang, said.

“Tanggram is an award-winning smart wealth creating app designed to provide users with reliable returns and monthly income, while Foresters is steadfastly committed to delivering secure and sustainable fund management solutions for individuals across all stages of life.

“Among their outstanding offerings, the Education Bond stands out as a brilliant avenue for funding education costs. I truly believe that our shared commitment to gain, grow and secure wealth will pave the way for a new era in wealth building.”

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