Selfwealth expands into full-fledged wealth platform

Trading platform Selfwealth is launching three managed portfolios, expanding from online brokerage into a wealth platform.

The three portfolios will be available to a small group of early access users today, with a broader rollout in the coming weeks.

Selfwealth is a subsidiary of Singaporean digital wealth manager Syfe Group's holding company Svava, which acquired the platform last year after winning a bidding war against Bell Financial Group.

The portfolios are developed and managed by Syfe's global investment team.

Through the managed portfolios, investors will have access to cash and income strategies. The strategies include Cash+, Income+Defensive and Income+Enhance. Selfwealth plans to expand the range to additional asset classes, including equity and growth-focused strategies, over time.

Selfwealth head of Australia Samantha Horton said the launch will mark the next chapter for the business following its acquisition in 2025.

"While advice has effectively doubled in price, the pool of people receiving it has shrunk as a share of the population," Horton said.

"The result is that Australians are being forced to choose between doing everything themselves or paying for high cost, traditional wealth management. We don't think they should have to make that trade-off."

After acquiring Selfwealth last year, Syfe raised more than $80 million to fund its Australian expansion and focus on the mass affluent market.

The bulk of the capital was deployed towards Selfwealth to build a local team and develop new affordable and tech-enabled investment and wealth offerings.

"We're putting a stake in the ground with a clear ambition: to become the home of Australia's smart investors. We're broadening beyond online brokerage into a holistic wealth platform, giving Australians simpler, smarter ways to build wealth at every stage of their investment journey," Horton said.

All three products will allow members to withdraw their money without lock-in periods.

"Democratising wealth has always been at the heart of what we do. By combining world-class investment expertise with the digital experience our members already know and trust, we're challenging the traditional wealth management model and making professional investing accessible to many more Australians," Horton added.