Briefcase names head of growth

Briefcase has appointed a new head of growth as it looks to expand its tax-aware direct indexing and ETF model portfolio capabilities for its financial intermediary partners.

In this new role, Michael Hasten will work with advisers, family offices, wealth management platforms across Briefcase's model portfolio capabilities, the firm said, with a particular focus on asset allocation to create more flexible portfolio solutions.

Hasten brings more than 15 years of institutional banking and capital markets experience at ANZ across resources, energy and infrastructure project finance, export credit, debt capital markets and cross-border capital markets.

More recently, he was the chief commercial officer of a fleet technology software as a service (SaaS) business LBM Fleet Solutions. He currently also manages investor relationships at Eldium, a Sydney-based warehousing lending provider and the head of growth for the Australia-Korea Business Council. He is fulfilling both roles in a part-time capacity.

Commenting, Briefcase chief executive and founder Josh Persky said Hasten's appointment adds significant institutional experience to refresh portfolio construction for investors.

"Michael has spent his career in sophisticated institutional markets, understanding how capital is structured, allocated and managed," Persky said.

"He brings technical depth and more than 15 years investment banking experience, but also the commercial expertise to turn sophisticated investment ideas into practical solutions.

"We are already seeing enormous opportunities come to us where clients are looking at more sophisticated investment capabilities to solve for customisation, better after-tax outcomes - well beyond traditional product structures and existing investment solutions."

Briefcase's proprietary technology allows portfolios to be constructed and managed at the individual security and client level, enabling advisers to tailor portfolios around each client's tax position, preferences and constraints while retaining transparency and direct asset ownership.

Meanwhile, Hasten said the business' approach on portfolio construction without being tied to a particular investment product was a key attraction.

"The opportunity is to start with the investor first and foremost and work backwards," Hasten said.

"Combining tax-aware direct indexing with thoughtful ETF asset allocation gives advisers much more freedom to build around an individual client's objectives and circumstances. That's a powerful shift, and I'm excited to help bring that capability to more advisers, family offices, brokers and wealth management platforms."