Betashares unveils new investing platform, adviser inclusion on horizon

Betashares has announced the launch of investing platform Betashares Direct, designed to help investors build long-term wealth.

According to the fund manager, Betashares Direct will initially allow self-directed retail investors to invest in any ETF traded on the ASX – whether from Betashares or other ETF managers – with zero brokerage.

In addition to providing access to Betashares’ investing insights and a library of educational materials, the new platform also offers “autopilot” capabilities, enabling investors to set up recurring investments, invest in professionally constructed diversified portfolios, or build custom ETF portfolios.

Betashares has also confirmed that the development of adviser-specific features are being actively explored, including a referral program to link investors with more complex requirements to a financial adviser.

“We’re currently engaging with advisers, a number of whom have been very proactive, and receiving their feedback on this referral program as well as getting a more general understanding of which features would add most value to them and their practice,” the ETF provider said on Wednesday.

“For financial advisers, we will also be seeking feedback around the opportunity to develop functionality to allow advisers to view and manage clients’ superannuation assets together with assets held outside of super.”

Over the longer term, Betashares clarified it will explore opportunities to develop functionality for the platform that will allow for a more holistic engagement with customers across their “wealth creation journey”.

Commenting on the launch, chief executive Alex Vynokur said the platform has been built around the firm’s experience and understanding of Australian investors.

“We believe it will play a meaningful role in enabling Australian investors to progress on their financial goals,” Mr Vynokur added.

“Since our inception, 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.”

Mr Vynokur confirmed that Betashares intends to significantly expand the functionality of the platform over time, with the initial launch features to be joined by a growing range of tools.

“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 opens for early access today with its initial features.