The OpenInvest online marketplace has launched on the Class technology platform, giving self-managed superannuation fund (SMSF) trustees access to Australian and international managers.
Schroders, Shaw and Partners, SG Hiscock, JBWere and InvestSense are among the list of managers available on the platform.
Co-founder and CEO of OpenInvest, Andrew Varlamos, said the platform was created in response to Productivity Commission data which showed around 70 per cent of SMSF trustees made their own investment decisions without advice, and was designed to empower investors.
“This platform was designed and built to assist SMSF trustees who don’t receive investment advice,” he said. “They consistently say they want to access professional help with their investments, and this platform allows them to choose from a range of quality investment managers in an environment that is open, transparent and conflict-free.”
Schroders’ CEO, Greg Cooper, said the platform also provided an opportunity for managers to promote themselves in their own words, without the medium of a financial adviser.
Cooper, who announced his retirement from Schroders recently, would join the OpenInvest board as a non-executive director in the new year.