Andrew Landman

OpenInvest has welcomed BlackRock joining the OpenInvest online marketplace, giving self-directed Australian investors access to transparent and cost effective multi-asset solutions built with iShares ETFs.

OpenInvest offers Australia’s self-directed investors access to some of the world’s best and most highly credentialed asset managers in an open, transparent and conflict-free environment. Investors can engage with different asset managers, and get to know and understand their respective investment approaches, and the fees they charge. When they feel ready, they can choose the asset manager they feel is right for them to manage their portfolio, with trading and administration undertaken by OpenInvest.

Co-founder and CEO of OpenInvest, Andrew Varlamos, welcomes BlackRock to the platform, saying it was an important validation of the OpenInvest goal of giving more Australians access to the best investment managers in the world.

“BlackRock manages more assets on behalf of investors than any other firm in the world. Via OpenInvest, Australian investors of all sizes, are now able to access portfolios managed utilising BlackRock’s extensive and global resources, expertise and experience”, Mr Varlamos said.

Andrew Landman, Head of Australasia at BlackRock, said the firm is excited about joining the OpenInvest marketplace.

“BlackRock is committed to helping investors around the world plan for their financial future. We are pleased to bring our iShares Enhanced Strategic Model Portfolios to the wider Australian market, providing investors with transparent, cost efficient building blocks to manage their individual portfolios and achieve their desired investment objectives,” said Mr Landman.

Post the Hayne Royal Commission many Australians are understandably uncertain as to where they can obtain the trusted and professional assistance they need. Self Managed Super Fund trustees in particular are seeking professional help with their portfolio; they understand the importance of having a properly diversified portfolio, but often lack the expertise and confidence to do this on their own.

All of the available asset managers on OpenInvest offer diversified portfolios across the spectrum of risk/return categories.

Mr Varlamos explained: “Every piece of research over many decades confirms the truism that the safest and most appropriate way to invest is with a properly diversified portfolio, giving an investor access to a broad range of asset classes. This is best undertaken by professional experts, and via OpenInvest we make it easy and affordable for Australians to access these experts”.

John Maroney, CEO of the SMSF Association, speaking at the Association’s annual conference on the Gold Coast, welcomed the news that BlackRock was joining the OpenInvest marketplace. “Australia’s 1.1m SMSF trustees have chosen to use an SMSF to plan for their retirement because they value the control it gives them.  And most SMSF trustees understand that professional expertise is essential to ensuring they get the best possible outcomes. We welcome increased investment choice for SMSF trustees to help ensure their portfolios are well diversified and managed.”

OpenInvest has been designed from the ground up to meet the needs of self-directed investors: investment managers explain themselves and their investment approaches in plain English, fees are clearly explained and there are no hidden extras or conflicted payments. And the investor is kept informed and is always in control.

BlackRock will soon make their products available to the OpenInvest online marketplace, alongside other tier one asset managers including Schroders and Macquarie. Mr Varlamos added that OpenInvest had a strong pipeline of Australian and global asset managers who will be joining in the months ahead, offering investors even more choice.

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Ms Allen is a highly experienced executive and non-executive director who spent 16 years in various senior executive roles at the RACV and oversaw the launch of new businesses and products in insurance and home services.

She has extensive governance experience as a director of companies in financial services, consumer services, logistics and distribution, as well as a wide range of skills accumulated at large organisations across those industries, infrastructure, and the public sector.

“It’s an exciting time to be joining the board of OpenInvest,” Ms Allen says.

“In the post-Financial Services Royal Commission world, the way Australian investors access professional assistance is set to change dramatically. As OpenInvest has been designed with investors’ needs in mind, I believe it’s poised to play a significant part in this change.”

Data suggests that 85% of Australians do not receive financial advice, while a recent SMSF Association report shows that more than 250,000 SMSF trustees have unmet advice needs. A significant proportion of these SMSF trustees say in surveys they want professional help with their investment portfolios.

“I believe my experience in financial services, in particular, as well as a strong focus on the use of new technologies to solve consumer problems, equips me to provide valuable input to the OpenInvest board,” Ms Allen adds.

OpenInvest, which was launched last November with SMSF trustees the primary target, offers investors a menu of highly-credible and experienced investment managers from which to choose.

Other non-executive directors are former Schroders Australia CEO Greg Cooper, former director of Countplus and principal of the accounting industry consultancy Smithink, David Smith, and the founding Managing Director of CommSec, Paul Rickard.

Co-founder and CEO of OpenInvest, Andrew Varlamos, says: “We’re delighted to have Susan join the board. Her varied experiences, especially at the RACV where she was involved in the launching of new products and services, as well as her various director roles, is exactly the skill set we need as we grow the business.”

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Andrew Varlamos

OpenInvest, the online marketplace and platform giving investors access to a diverse range of Australian and international investment managers, has added an important string to its bow with the decision by Macquarie Investment Management to join up and add its portfolios to the menu.

OpenInvest, which was launched last November with SMSF trustees the primary target, gives investors a platform from which to choose from a range of highly credible and experienced investment managers. As well as Macquarie, other managers include Schroders, Shaw and Partners, SG Hiscock and JBWere.

Co-founder and CEO of OpenInvest, Andrew Varlamos, welcomed Macquarie to the platform, saying: “The investment management industry has the expertise and experience to assist self- directed investors, and we are very happy Macquarie has joined in this exciting industry initiative.”

Greg Cooper, former CEO of Schroders Australia, who has recently joined the board of OpenInvest, adds: “The significance of OpenInvest is that it gives investors much simpler access to professional investment management assistance. Through OpenInvest, investors can get to know the investment managers, their investment processes and how they’re investing, before making a decision”.

Varlamos says: “In a post Royal Commission environment, there are even more investors who want help with their investments, but don’t know who they can trust or where they can go to find the professional assistance they need.

“In particular, SMSF trustees are very clear in saying they want professional help, but they want to remain in control, and highly value transparency and engagement.

“We have designed and built OpenInvest for these investors: we are independent and conflict-free, and offer content, engagement and choice.”

Data suggests that 85% of Australians do not receive financial advice, while a recent SMSF Association report shows that over 250,000 SMSF trustees have unmet advice needs. A significant proportion of these SMSF trustees say in surveys they want professional help with their portfolios.

For self-directed investors, the process on OpenInvest is very simple. Investors choose their preferred investment manager only when they feel ready. OpenInvest then keeps their portfolio aligned with the guidance provided by their chosen manager, whilst the manager keeps the investor fully informed and up-to-date.

Each investment manager sets their own investment fee. OpenInvest then adds its administration fee to arrive at a total management fee. There are no hidden extras for investors.

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Co-founder and CEO of OpenInvest, Andrew Varlamos, says: “Since launching in November, there has been amazing interest among self-directed investors, and especially self-managed super fund (SMSF) trustees, in our platform that offers unprecedented access to the resources and expertise of leading investment managers.

“To take advantage of this keen interest, now is the right time to appoint Ravi and Phoebe into these important positions where they can play key roles in growing the business.

“Ravi has more than 25 years’ experience in various consultative and distribution roles in accountancy, advisory and the investment management industry in Australia and the UK. He will promote the OpenInvest marketplace to accountants and advisers as a logical solution for their self-directed clients, particularly SMSF trustees.

“Phoebe has tremendous experience helping self-directed investors via the online provision of information and resources, joining from the Constant Investor where she headed Operations and Client Services. Before that, she had senior roles at the Eureka Report and the Business Spectator.”

Verma says: “I tremendously excited to be joining the OpenInvest team. In a post Royal Commission world where people are looking for expert advice from an unbiased source, OpenInvest provides an excellent solution to many individuals who simply don’t know where to find information and, when they do, whether they can trust it.”

Kohler says: “OpenInvest opens up a new avenue for SMSF trustees, in particular, to find high-quality investment managers and then determine which manager best suits their investment goals. The opportunity to market such a valuable investment platform will be both challenging and extremely fulfilling.”

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