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BlackRock joins OpenInvest platform

OpenInvest Blackrock

Online investment marketplace OpenInvest will partner with BlackRock to bring its exchange traded funds (ETFs) model portfolios to Australian investors.

BlackRock is the latest funds management house to be added to the OpenInvest online marketplace designed to allow SMSF trustees and self-directed investors access to leading investment managers.

“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,” OpenInvest co-founder Andrew Varlamos said.

BlackRock joins Macquarie, Shaw and Partners, Schroders, SG Hiscock, Clime and InvestSense on the OpenInvest facility.

Varlamos pointed out the financial services royal commission has made it difficult for SMSF trustees to know who to trust when it comes to investing their money. This in turn has made it harder for these individuals to achieve proper portfolio diversification as they have become less certain of which organisations can assist them in attaining this goal. But this is a set of circumstances where OpenInvest can provide a solution, Varlamos said.

“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,” he said.

BlackRock head of Australasia Andrew Landman expressed excitement at the opportunity for his organisation to be part of the OpenInvest online 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,” Landman said.

SMSF Association chief executive John Maroney welcomed the announcement as a positive development for SMSF trustees.

“Australia’s 1.1 million 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,” Maroney said.

OpenInvest was launched in late 2018 with the aim of empowering investors, while providing additional content, information and regular updates provided by investment managers.


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