Betashares Direct

[Ferret]

I've been getting some emails from Betashares promoting this new service/product. From the blurb:

"Betashares Direct is a new investing platform designed to help you build wealth, your way.

It allows you to invest in any ETF traded on the ASX with zero brokerage and no account fees – as well as set up recurring investments, access professionally constructed diversified portfolios, or build your own custom portfolio, for low monthly fees."

More info: https://www.betashares.com.au/direct

Not for me. I prefer to be the direct owner of my holdings and Betashares is to be the custodian holder under this scheme.

Maybe the zero brokerage and ability to have recurring investments is attractive to some.

 

[divs4ever]

I've been getting some emails from Betashares promoting this new service/product. From the blurb:

"Betashares Direct is a new investing platform designed to help you build wealth, your way.

It allows you to invest in any ETF traded on the ASX with zero brokerage and no account fees – as well as set up recurring investments, access professionally constructed diversified portfolios, or build your own custom portfolio, for low monthly fees."

More info: https://www.betashares.com.au/direct

Not for me. I prefer to be the direct owner of my holdings and Betashares is to be the custodian holder under this scheme.

Maybe the zero brokerage and ability to have recurring investments is attractive to some.

*** for low monthly fees." ***

since ASX listed ETFs and brokerage and account fee resistant ( ie none charged )

i would guess actual shares LICs and REITs would attract a monthly fee ( but haven't searched the fine print



now an account that ( ASX -listed ) Betashare ETFs might be useful as long as they didn't require regular investment cash .. say six monthly

i hold some Betashare ETFs , but the fine print needs to be scrutinized imagine an account that featured volatile ETFs ( like the BEAR family or GEAR family ) rather than the boring passive index funds

if i dig into this further i will be seeking the advice of a financial advisory straight ETFs are bad enough for fine print

 

[peter2]

Do I own my investments held on Betashares Direct?
No. No Chess, No HIN.

 

[qldfrog]

Do I own my investments held on Betashares Direct?
No. No Chess, No HIN.

View attachment 180467

That is a no go area for me

 

[qldfrog]

That is a no go area for me

And wanted to add i indeed received a promotional email yesterday .. that i only read after going thru the posts here

 

[Bellcose]

I hope the custodian sends the annual AMIT statement necessary to complete a personal tax return. I have heard of others having trouble obtaining them where custodial arrangements apply.

 

[Dona Ferentes]

Betashares, which has specialised in ETF products, is rapidly expanding into other services including superannuation. Next week it plans to allow clients to buy shares in any ASX 300 company through its Betashares Direct platform without any fee – a first in Australia.

“By removing brokerage on ETFs and now on over 300 Australian shares, we are furthering our goal to become the home of investing for Australians,” said Alex Vynokur, chief executive of Betashares, which now counts Singaporean asset manager Temasek as a major investor.

“Removing brokerage from the investment equation is more than just making investing more cost-effective. More importantly, the world without transactional brokerage opens up a world of new opportunities.”.
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What's The Catch.?

 

[qldfrog]

Betashares, which has specialised in ETF products, is rapidly expanding into other services including superannuation. Next week it plans to allow clients to buy shares in any ASX 300 company through its Betashares Direct platform without any fee – a first in Australia.

“By removing brokerage on ETFs and now on over 300 Australian shares, we are furthering our goal to become the home of investing for Australians,” said Alex Vynokur, chief executive of Betashares, which now counts Singaporean asset manager Temasek as a major investor.

“Removing brokerage from the investment equation is more than just making investing more cost-effective. More importantly, the world without transactional brokerage opens up a world of new opportunities.”.
.
.
What's The Catch.?

Owning betashares, i was puzzled as well.
One way some brokers offer low or no fee is thru data sharing.
If i buy or sell a share, the broker can take that decision to a dark pool..plenty of shares owned and traded by betashares ETFs, and so tweak the " Market price" by a few cents.
You pay no fee but your price might not be optimum.
Compare this to f.e. commsec where you pay a heavy fee, and probably get played the same.....
So good way to save a bit of money..
Are the shares under your name under CHESS is a key point, i do not know yet

 

[Bellcose]

What's The Catch.?

Easy to get in but very difficult to get out? Joint holdings - separation/divorce. Death of investor - How does executor of estate deal with betashares holdings? Death of supeannuation member - Trustee issues then follow. Enduring PoA in force due to lack of capacity of investor - how is that handled by Betasahares.

Best never to pile in because it "cheap" without knowing the exit strategy and processes.

Some random thoughts.