Ignition Wealth announces goals-based investing
Ignition Wealth CEO Mark Fordree today announced a groundbreaking development as Ignition Wealth becomes the first Australian ‘robo-adviser’ to offer goals-based investing. Ignition Wealth has appointed SiResearch to provide adaptive asset allocation built around goals which have a specific objective and timeframe. Traditional risk assessment has focussed on the investor’s long-term goals, often focussing simply on retirement. The goals-based model acknowledges that investors’ goals may fall into several buckets including short term, medium term and legacy. “In reality an investor’s attitude to risk is influenced by what their goal is and the date by when they want to achieve it. The SiResearch goals-based investment model adds a specific objective […]
Mint Payments successfully completes $6m placement
Payments technology solutions provider Mint Payments (ASX: MNW) has successfully completed a placement of new shares to drive its aggressive expansion into South East Asia’s evolving payments landscape. The placement will be made pursuant to s708 (11) of the Corporations Act 2001, to raise $6.0M. Priced at $0.079 per share, the Placement represents a 3.7% discount to the last traded price of $0.082 per share. The capital raising will be undertaken in two tranches: a) Tranche 1 – comprising 50.6M shares, raising $4.0M pursuant to the Company’s existing 15% capital issue limit under ASX Listing Rule 7.1 ; and b) Tranche 2 – comprising 25.3M shares, raising $2.0M. […]
Australian FinTech launches International FinTech platform
The team behind the highly successful AustralianFinTech.com.au, this week launch their International platform, InternationalFinTech.com, aimed at connecting the FinTech industry on a global scale. Founder and CEO, Cameron Dart, says International FinTech has been born on the back of the highly successful Australian FinTech platform and growing demand from the global community to have a dedicated online presence for their sector. “International FinTech mirrors the Australian FinTech platform, including a dedicated industry newsfeed and a comprehensive directory of FinTech companies globally. “The site also aims to educate users of new financial technologies such as peer to peer lending and cryptocurrency, all presented in simple terms with no financial jargon” says […]
Midwinter : Reputational risk still a determining factor for advisers when it comes to Social Media
It appears that the Australian advice industry is split when it comes to whether reputational risk prevents them from participating on social media channels, according to research carried out by Midwinter Financial Services in conjunction with Jenesis Consulting. In 2016, Midwinter surveyed 153 advisers of varying backgrounds and specialisations on Digital and social media, with the results revealing mixed feelings on many aspects in regards to how the industry engages with these tools. The responses were compiled and put together in Midwinter’s Digital and Social Media Survey Report. Of particular interest was that 87.3% of planners surveyed believed there to be some degree of reputational risk involved in engaging on […]
UK fintech delegation heads to Australasia
A trade delegation of eleven UK fintech companies will visit Australia and New Zealand in March. The UK’s Department for International Trade (DIT) will bring a trade delegation of eleven successful UK fintech companies to Australia and New Zealand in March. The trade mission will build on the success achieved by several UK companies in Australia, such as Ratesetter, ThinCats, TruRating and OTCX by promoting opportunities in Australian and New Zealand fintech, including in the emerging regtech, insurtech and blockchain sectors. It will provide a platform for UK and Australian counterparts to exchange ideas, best practice and discover potential areas for collaboration. The selected UK companies will participate in a […]
ATO signs up as first client for fintech start-up Mainframe Cloud
Fintech start-up Mainframe Cloud (“MfC”) has signed a contract with the Australian Taxation Office (“ATO”) to deliver a suite of mainframe modernisation solutions to the Australian Government’s major revenue collection agency. The contract follows an extensive and successful Beta testing exercise in 2016 and the achievement of a minimum viable product by MfC. Based at the Stone & Chalk fintech hub in Sydney, MfC simplifies mainframe operations by providing applications that focus on improving productivity and efficiency. The global application development market for mainframes is estimated to be US$23 billion per annum. Mainframes process approximately 80% of the world’s data and are at the core of most of the world’s […]
Ignition Wealth announces new XPLAN consultancy division assisting advisers to prepare for robo-scale
Ignition Wealth CEO Mark Fordree today announced a new division of Ignition Wealth which will offer full XPLAN support and consulting to help advisers get the most out their XPLAN solutions and prepare to add ‘robo’ services to their businesses. Ignition Wealth will deepen its existing digital advice integration with XPLAN, creating a seamless pathway between automating ‘robo-advice’ and full service advice. “XPLAN is the leading financial planning solution in the market and we are delighted to now offer our clients a range of XPLAN services to help them better leverage technology in their businesses. We believe the true scale of digital advice is best delivered by integrating […]
Record of Advice production time slashed from half an hour to just seconds
MA Operator, the Australian fintech for independent financial advisers, has a new tool that produces Records of Advice (ROAs) in a matter of seconds. MA Operator’s closest published competitor is only able to produce ROAs in 30 minutes. This was announced in 2016 and at the time was a significant reduction from the still widely-used overnight process. Richard McLean, CEO at Frontier Financial Group, said: “MA Operator’s ROA automated generation takes away days of effort and removes significant costs from our business. More importantly the clients are provided electronic signing of their ROAs, reducing the market lag and increasing the accuracy of the advice, as well as providing a full […]
