Trellia Wealth Partners will operate as an independent, stand-alone business, providing index-based, active and bespoke managed account solutions for financial advisers, alongside technology, tools and business support services to boost practice efficiency and enhance the client experience.
Betashares had flagged a potential merger with Sydney-based InvestSense, founded in 2014, last month.
In a statement on Monday, Betashares said the deal was made as the exchange-traded fund (ETF) provider could observe a positive outlook for Australia’s financial advice market, which is conducive to future growth and uptake of managed accounts. According to the Institute of Managed Account Professionals, the sector reached $232.7 billion in assets as of 31 December 2024.
The positive drivers include greater advice demand, rise of ETFs, growth in private market opportunities, and shift into pension phase for the superannuation sector.
Alex Vynokur, chief executive of Betashares, said: “Financial advisers play an integral role in helping many Australians progress towards their financial goals. Trellia Wealth Partners brings together our unique strengths and a shared purpose – to support advisers through innovation, partnership and best-in-class investment thinking. This is not just about combining capability, it’s about accelerating our impact.”
Speaking to InvestorDaily’s sister brand, Money Management, Vynokur added that, much like the ETF market where Betashares, Vanguard and BlackRock account for 75 to 80 per cent of industry flows, the managed accounts space is likely to follow a similar pattern.
“I would say, over time, in the managed account space, there probably will be top three players that will actually account for a significant portion of the business ... and we, of course, want to be one of the leading players in that space,” Vynokur said.
“We are very much focused first and foremost on building the managed accounts business organically .... We definitely are open to partnering, you know, with firms that really share in our sort of approach to business and philosophy,” he added.
According to Monday’s announcement, InvestSense directors Jonathan Tolub, Jonathan Ramsay, Fil Andronaco and Paul Carrington will become partners in the new business. Existing client portfolios will continue to be managed without change, unless improvements delivering clear benefits to advisers are identified.
Also commenting on the deal, Tolub said: “Our flagship and custom-built portfolio solutions have helped advice practices grow for over a decade. Now, we are combining that agility with the scale, support and world-class infrastructure needed to deliver even more value to our clients.
“From the beginning, it was clear that this partnership was more than complementary – it was aligned in purpose. We bring different strengths, but we share a belief in building client-centric, advice-aligned solutions. Trellia Wealth Partners allows us to provide advisers the advantage of leading investment solutions, best-in-class support capabilities and depth in expertise, to assist our clients in their growth journeys.”
