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Betashares continues expansion with new investing platform

4 minute read

The Australian ETF provider has followed up its plans to enter the super industry by launching a new platform for self-directed investors with zero brokerage.

Betashares has announced the launch of a new retail investing platform that will allow self-directed retail investors to invest in any ETF available on the ASX.

According to the ETF provider, the Betashares Direct platform has been designed to help investors build their long-term wealth and will feature zero brokerage fees.

The move comes after Betashares announced last month that it had agreed to acquire Bendigo and Adelaide Bank’s superannuation business and enter the super industry.

“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,” commented Betashares chief executive officer Alex Vynokur.

“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.”

The new platform offers an “autopilot” feature that will allow individual investors to set up recurring investments, invest in professionally constructed diversified portfolios, and build custom ETF portfolios with low portfolio fees.

Betashares said its platform will also offer streamlined and personalised performance and tax reporting in an effort to make investments easier to administer and manage and provide access to investing insights and educational materials.

The firm indicated that it plans to significantly expand the functionality of Betashares Direct by adding a wide range of tools and features to assist investors in meeting their goals.

Additionally, financial adviser-specific features are also planned, including a referral program that will link investors who have more complex needs to advisers.

“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,” Mr Vynokur said.

Mr Vynokur noted that Betashares has grown to service the investment needs of over 1 million clients since its inception in 2009 and now manages more than $30 billion.

“We have been focused on helping to democratise investing for Australians by expanding choice, reducing costs, and improving investor education. We’re excited to bring our passion for innovation and the value of long-term investing to Australian investors,” he said.

According to Betashares, the new platform and its entrance into super are complementary components of a long-term strategy to continue expanding into the financial services sector.

“The launch of Betashares Direct is another important milestone for us,” Mr Vynokur added.

“We are proud to bring genuine innovation and choice to Australian investors, assisting them in making informed investment decisions and helping them reach their wealth creation goals.”

Mr Vynokur previously told InvestorDaily that Betashares’ foray into super will provide some “much needed competition” to a sector heavily weighted towards consolidation.

Jon Bragg

Jon Bragg

Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.