Research shows that budgeting and cashflow management the top advice priority for younger Australians
Younger people overwhelmingly rank budgeting and cashflow management as the most valuable type of financial advice they can receive, according to a recent ING and Rice Warner survey of more than 1000 Australians. Gen Z (66 per cent), Gen Y (60 per cent) and Gen X (40 per cent) all cited budgeting and cashflow management as more valuable than holistic advice and retirement planning advice, according to the report. Baby Boomers understandably rated retirement planning as their most valued advice service (more than 45%), however almost 30 per cent said budgeting and cashflow management services was most valuable. Source: ING My Generation report, which surveyed 1040 Australians between the ages […]
Xinja launches second equity crowdfunding campaign on Equitise platform
Pioneer Australian neobank Xinja today gives everyday Australians another chance to join the digital banking revolution by purchasing shares through leading equity crowdfunding platform Equitise. The raise – opened early to existing investors, customers and people who had registered interest – has passed the minimum of $500,000 in less than 9 hours. Xinja, a digital neobank designed entirely for mobile, last month received unprecedented expressions of interest when its second equity crowdfund to begin in early 2019 was announced on Equitise. With shares available from today on the Equitise platform, Xinja Chief Executive and founder Eric Wilson said he’s confident there will be early and consistent interest from investors who […]
Robo-advice growth a worldwide trend
A new survey reveals the robo-advisory is increasing in competition across both the Asia-Pacific and European markets. Research from data and analytics company GlobalData’s Wealth Managers Survey found that the robo-advisory market is increasing in competition globally, with more start-ups entering the wealth management industry year by year. According to GlobalData wealth management analyst Sergel Woldemichael, traditional wealth managers across the globe in previous years had a widespread level of agreement that robo-advice would seize market share. “However, as of 2018, the level of agreement that Asian-Pacific and European wealth managers will lose market share to robo-advisors is beginning to align,” Mr Woldemicheal said. To read more, please click […]
Long-dormant Bitcoin whales resuming activity could rock price action, analysts say
The number of active Bitcoin (BTC) wallets, many of which have long been dormant, has seen an uptick that could herald some major market movements, Bloomberg reports Jan. 11. Bloomberg bases its report on data and analysis from crypto analytics startup Flipside Crypto, which sealed the backing of major crypto exchange Coinbase and veteran crypto venture capital firm Digital Currency Group (DCG) back in November. According to Flipside, as of Oct. 2018, a high number of long-inactive Bitcoin holders — defined as those that haven’t transferred their Bitcoin for between six and thirty months — have begun to transfer their coins, resulting in wallets active over the past month now […]
Symple targets A-grade borrowers, leaves F-grade to big banks
New marketplace lender Symple Loans says it will lure in creditworthy borrowers with cheap loans and leave subprime loans to traditional banks. Symple Loans, which opened its personal loan book last month after raising $10 million, said it would use a risk-based pricing model and offer low interest rates to responsible borrowers who showed discipline with their finances. “Those customers are very predictable and the returns we earn on those loans are also very predictable. Those customers tend to be more resilient during times of economic volatility,” Symple Loans co-founder and chief executive, Bob Belan, said.Mr Belan and co-founder Paul Byrne previously were personal lending specialists at ANZ. Mr Belan […]
Asset finance lender joins broker panel
A mortgage aggregator has expanded its lender panel to enable brokers to help customers with personal and asset finance. Loan Market Group has welcomed RateSetter as part of its commitment as the industry’s trusted advisor. It aims to be a single specialist broker which customers can entrust their portfolio of real estate, personal and asset finance needs to alongside their personal wealth, insurance and superannuation goals. Peer-to-peer lender RateSetter offers brokers access to personal loan and automotive loan products with rates from 7.49% and 5.90% respectively. Using a risk-based pricing model that delivers a personalised rate to borrowers in less than two minutes, RateSetter aims to deliver a simple, transparent […]
Here’s how you can buy a brewery for just $100
While it may be a fantasy of many, the dream of buying a brewery (or at least part of one) is actually within reach. Endeavour Brewing Company, the minds behind the Endeavour Tap Room in Sydney’s iconic Circular Quay, are plotting international expansion and are giving ordinary Australians the chance to own some of the action. Launching a crowdfunding campaign on online platform Equitise last month, founder Ben Kooyman is looking for up to $3 million in investment, allowing Australians to get in for as little as $100. “They get full ordinary shares, they’ve got access to future dividends if we decide to issue them, and future proceeds if we sell the […]
IRESS tipped to win 80% of wealth management market
Morningstar has high hopes for listed technology provider IRESS and anticipates the group’s wealth management software business to increase its market share significantly, driven by strong demand for holisitc financial advice. In a research noted released this week, Morningstar analyst Gareth James notes that the share price of IRESS has fallen 21 per cent over the last 90 days, despite the lack of trading updates since the group posted its interim results last August. Over the first half of FY18, IRESS delivered a strong result with group segment profit up 11 per cent and operating revenue up 6 per cent compared to 1H17. Morningstar’s Mr James believes the weaker share […]
