Betashares has secured a foothold in managed accounts, the second major shake-up in the booming sector this year and a big expansion for the financial services player whose history is rooted in exchange-traded funds.
The deal means Betashares’ managed account product will merge with Sydney-based portfolio management and investment consultancy InvestSense, forming a new standalone entity dubbed Trellia Wealth Partners.
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Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
