Raewyn Williams
Briefcase, the Australian investment technology company specialising in tax-aware direct indexing and personalised portfolio solutions, has appointed leading after-tax investment specialist Raewyn Williams to its advisory board as new superannuation and capital gains tax rules put after-tax returns at the centre of investment decisions.
Williams was previously Managing Director of Research and Strategy at Parametric, a global leader in tax-managed investing, where she spent seven years leading the firm’s Australian research agenda and helping institutional investors improve after-tax investment outcomes.
The appointment marks another step in Briefcase’s growth as it strengthens its proprietary tax-loss optimisation technology and expands its work with financial advisers, family offices, asset managers and superannuation funds.
Josh Persky, founder and CEO of Briefcase, said Williams brings significant institutional expertise to the business at a time when demand for more personalised and tax-efficient investment solutions is growing.
“Raewyn is one of Australia’s foremost authorities on after-tax investing. She has spent her career helping some of the country’s largest institutional investors understand how tax impacts portfolio construction and long-term investment outcomes,” Persky said.
“Tax has traditionally been considered after investment decisions are made. We believe it needs to be embedded in portfolio construction from the outset, and Raewyn’s expertise will be invaluable as we develop our technology and investment methodology.”
Before joining Parametric, Williams was Director of After-Tax Investment Strategies at Russell Investments. She is a qualified solicitor and Chartered Tax Adviser, holds Bachelors of Economics and Law from the University of Sydney and is a graduate of the Australian Institute of Company Directors. She has served on several industry bodies, including the Financial Services Council’s Tax Expert Group and ASFA’s Tax Policy Subcommittee.
Throughout her career, Williams has worked closely with major superannuation funds and institutional investors on after-tax investment strategies and the practical application of tax-aware portfolio management.
The appointment comes as tax reform reshapes how Australians invest. Since 1 July 2026, Division 296 has applied higher tax rates to realised earnings on superannuation balances above $3 million. From 1 July 2027, cost base indexation will replace the 50% capital gains tax discount for individuals and trusts, alongside a new 30% minimum tax on real capital gains. For affected investors, when and how gains are realised now has a direct bearing on what they keep.
Briefcase’s offering combines direct indexing, tax-loss optimisation and ETF portfolio management to help advisers construct and manage portfolios tailored to individual investors’ tax circumstances, preferences and investment objectives.
Its proprietary technology enables portfolios to be managed at the individual security and client level, with integrations across wealth platforms, brokers and custodians supporting the delivery of personalised investment strategies at scale.
Persky said the business was increasingly focused on making investment capabilities traditionally associated with large institutional portfolios more accessible to the broader wealth management industry.
“Division 296 and the coming capital gains tax changes are bringing after-tax investment outcomes into sharper focus for advisers and their clients,” Persky said.
“At the same time, technology is making it possible to deliver highly personalised portfolios at a scale that simply wasn’t practical before.
“Raewyn will play an important role in helping us build on that opportunity, strengthening the research and investment thinking behind our technology as we scale.”
Williams said she was attracted to Briefcase’s approach of combining institutional-grade investment expertise with technology capable of delivering personalised after-tax outcomes.
“After years in tax law working with funds and managers, I was drawn into the investment world because the case for after-tax investing in Australia is compelling. Institutional investors started exploring its value years ago, but delivering the same sophistication to individual investors at scale has remained a challenge,” Williams said.
“Briefcase has developed technology that can help advisers bridge that gap, bringing together tax-aware portfolio construction, investment management and the infrastructure needed to implement these strategies efficiently.
“I’m looking forward to working with Josh and the team as they hone these capabilities and bring more sophisticated investment solutions to the Australian market.”