Advice practices need to pay attention to next disrupters
Managed accounts, robo-advice, and scaled advice are going to be the norm in the next two to three years, Netwealth believes. Presenting at Money Management’s Fintech, Platform and Wraps conference on Thursday, Netwealth head of managed accounts – strategy and development, Steve Thomas said advice businesses were not fully across technologies that were available. Thomas said 29 per cent of advisers were using some level of scaled advice and 31 per cent expected to use it in 12 to 18 months. “They recognise that scaled advice can certainly help in the ongoing management of their clients,” he said. “The interesting part is for those 29 per cent using it, 40 […]
Blockchain Explained: What you need to know
As emerging technologies continue to revolutionise the way we live and transact, concepts like ‘cryptocurrency’ and ‘blockchain’ are becoming increasingly relevant to our collective financial future. Major banks are already talking about and beginning to use blockchain, a technology that could drive the digital transactions of the future. And it’s become a major buzzword in financial circles around the world for its potential to change the exchange of value as we currently know it. While the technology itself is in the very early stages of existence and is complicated to understand, businesses and entrepreneurs around the globe are looking at ways to effectively use it in the belief that blockchain […]
Bitcoin cash is essentially printing money
The creation of a second bitcoin asset this week did almost nothing to dilute the price of the original unit, with the value of the new asset instead rocketing skyward, generating almost $US7.5 billion ($9.5 billion) out of thin air. This week, a group of bitcoin activists and developers created a second version of bitcoin, within a few hours, the value of the new unit – bitcoin cash – leapt to over $US600. The original bitcoin price however, remained fairly steady, still trading at about $US2700 a coin, despite an almost 1:1 duplication of itself. “Everyone who has bitcoin now has bitcoin cash and because the market reckons this is […]
Asia’s leading Fintech Accelerator in Australia
Supercharger is Asia’s leading no equity Fintech Accelerator with programs in HK & Malaysia. They are currently looking for the best FinTech companies that are interested in expanding or scaling in the Asian market. To give you a sense, companies of a previous cohort have closed 12 contracts, raised USD700,000, and generated another 28 business leads within 12 weeks. Please feel free to explore the program on Supercharger website. They’re looking forward to your application which can be lodged here by 18th August 2017 and as for their track record, you can check it out here. The Fintech Accelerator have prepared some key answers that may help your team to review your scale of success in […]
Bitcoin cash is already the 3rd largest cryptocurrency
Bitcoin cash has already secured its place as a top cryptocurrency, just a day after it entered the marketplace. According to Coinmarketcap.com, the cryptocurrency is trading at about $US490 per coin and its marketcap now stands above $US8 billion. As such, it is the third largest cryptocurrency by marketcap, surpassing big name coins such as Ripple ($US6.7 billion) and Litecoin ($US2.2 billion). Bitcoin cash came to fruition Tuesday after it split from the original network that powers its crypto-cousin, bitcoin. To recap, the split was preceded by a years-long war between power brokers in the bitcoin space over the rules that guide the digital currency’s network. Supporters of the newly […]
YTML: ASIC’s example SoA ‘not balanced’
Customer take up of life insurance advice could be adversely effected if Statements of Advice (SoA) for life insurance do not take a more balanced approach to the information they communicate. This is the feedback YTML General Manager Advice Delivery, Terri Ho submitted to the Australian Securities and Investments Commission (ASIC) on the example SOA provided in Consultation Paper CP 284, which YTML say does not prioritise the information consumers are most looking for, the advice. ‘We believe the disclosure of commissions is over played in its current position in the SOA. This represents too much focus on remuneration.’ Further: ‘One of our key suggested improvements is to change the positioning of the […]
Sydney is challenging Singapore as the region’s fintech startup hub
The number of fintech startups in Australia has increased to 579 companies from less than 100 in 2014, according to a study by KPMG launched today. Australian fintech investment is strong with $US675 million invested across 25 deals in 2016 despite an overall global decline in investment in the sector. And about 60% of fintech companies are based in Sydney, which has been the major recipient of fintech venture capital investment at $US171 million between 2014 and 2016. The report, Scaling the Fintech Opportunity: For Sydney and Australia, has been produced by KPMG for the think tank, Committee for Sydney. The report finds, based on interviews with the Australian fintech […]
Buy a share in a brewery: Pozible launches equity crowd-funding site Birchal
The co-founder of Black Hops Brewing is keen to use equity crowd-funding platform Birchal to raise further funds for his business.
