Betashares has released a new investment platform that will allow retail investors to access any exchange-traded fund (ETF) from any provider on the Australian Securities Exchange (ASX).
The new offering, Betashares Direct, which opened today to self-directed investors, will charge no brokerage fees to invest in ETFs and offers an ‘Autopilot’ feature to allow investors to automate investment strategies using pre-built portfolios or to create their own custom portfolios.
Betashares chief executive Alex Vynokur said the launch of the platform aligns with the company’s strategy of offering investment services and tools to a wide range of Australian investors.
“As the next step in our journey, we are excited to introduce this innovative investment platform, which will allow us to add significantly more value to Australian investors. Betashares Direct has been meticulously built based on our experience and understanding of Australian investors and we believe it will play a meaningful role in enabling Australian investors to progress on their financial goals,” Vynokur said.
He added the company is aiming to expand the platform for investors and financial advisers, with a gradual introduction of additional features based on initial feedback.
“The initial launch features of Betashares Direct will be joined by a growing range of tools and functionality that will allow investors at all stages of their investment journey to build robust and well-constructed portfolios,” he said.
He said the adviser-specific features would include a referral program to link investors with complex needs to advice professionals and plans were in place to add functionality geared towards SMSF practitioners and trustees, with SMSF and trust accounts to be added in the near future.
“We expect Betashares Direct to add value to Australian financial advisers, who continue to be a core focus of our business. We are actively exploring the development of adviser-specific features for the platform, as well as a referral program, which will be added in the future,” he said.
Betashares Direct is currently accessible to individual retail investors on an early-access basis and is expected to be available to the general public in the coming months.
The launch of the platform comes after Betashares entered into an agreement to purchase the superannuation operations of Bendigo and Adelaide Bank last month.