Xynon raises up to USD $10 million to disrupt adviser platform market

Xynon has launched a new wealth management platform for financial advisers, backed by recent investment and the acquisition of Morrison Securities.

The Sydney-based fintech is seeking to raise between USD $5 million and USD $10 million to further expand its portfolio management technology. The move follows an initial contribution of USD $2.5 million from its principals Shantanu Jha and Manfredi de Flippo, co-founders of Beaconsfield Capital, who currently hold 80% of Morrison Securities. Additional investment from the pair is anticipated to accelerate the development of the Xynon technology suite and its market presence.

Beaconsfield Capital has previously invested in several Silicon Valley deep-tech companies, including Anduril, Figure AI, Lightmatter, Anthropic, and Antithesis. This latest venture, however, marks a distinctive focus on the wealth-tech sector within Australia.

Platform foundation

Xynon's launch comes after its acquisition of Morrison Securities, a prominent independent clearing participant and retail options wholesale broker in Australia. The company aims to disrupt the domestic wealth platform landscape by starting its platform design from the trading and broker infrastructure layer, rather than traditional registry systems.

"Too many wealth platforms start at the registry and bolt on investment intelligence later," says CEO and co-founder Shantanu Jha. "We flipped the model."

According to Jha, most wealth management platforms in Australia have focused on adding investment intelligence and efficiency features as an afterthought, which he says complicates the offering for both advisers and end clients.

"Xynon is re-imagining the current platform proposition, which is too complex, costly and has lost sight of what is important. Xynon has built a solution that isn't a platform, building out from investment trading to deliver advisers and clients superior investment outcomes and an AI-enabled user experience," said Jha.

Broker infrastructure

By integrating directly with Morrison Securities' broker infrastructure, Xynon asserts it can offer direct control over execution, compliance, and transaction data. The platform is set to provide advisers with real-time compliance monitoring, AI-powered workflows, adviser-client-licensee portals, and advanced portfolio tools inclusive of tax and performance reporting.

This approach differentiates Xynon from market incumbents such as HUB24 and Netwealth, who originally built their market positioning via managed accounts focused on managed funds and Australian equities before expanding their feature sets. Xynon's founders argue that their infrastructure-first approach allows for greater speed, control, and compliance efficiency.

"Advisers that we speak with are looking for greater control of the investment decisions, including real-time trade execution coupled with the benefits of consolidated tax and performance reporting supported by a modern user experience that places less administrative burden on the financial planning practice and the investor," said Jha.

Adviser focus

Xynon targets adviser-led practices managing less than USD $1 billion in assets, especially those seeking flexibility and autonomy outside the constraints of large platform ecosystems. The company believes these firms are underserved by existing platform models in both pricing and support.

Co-founder Wes Hall says, "Small and medium sized adviser firms that we speak to do not feel like the pricing they get for their clients and the level of support they receive from big platforms is as good as it should be."

He adds that administrative complexity is a significant burden for such firms, stating, "We're removing the burden so they can focus on what matters: client strategy, discretionary portfolio management, and relationships."

Role of Morrison Securities

Morrison Securities' CEO William Slack indicated that decades of developing sophisticated trade systems have directly informed Xynon's platform capabilities.

"By integrating our broker infrastructure directly into the Xynon platform, we're giving advisers an edge they've never had before - real-time execution, compliance assurance, and control over their client data. This is about building the backbone of advice, not just another front-end solution."

Slack also noted the wider implications of the partnership, stating, "Partnering with Xynon allows us to bring that capability to the next generation of advisers looking for scale, speed, and certainty in a changing regulatory landscape."

Expansion plans

The company's immediate focus rests on growth within the Australian adviser market. However, Xynon is positioning itself for possible overseas expansion, citing the capability of its infrastructure-first model and regulatory frameworks in other jurisdictions.

"We built this platform to scale. Australia is just the beginning," said Jha. "With the right foundation in place, there's a significant opportunity to support advice professionals in other markets where trust, compliance and infrastructure matter."