Fintech players winning with disappointed advisers
Newer advice technology providers have defeated their more established competitors in securing the top spot for adviser platform satisfaction, despite industry-wide disappointment in current tech options. According to the latest Investment Trends Planner Technology Report, newer platforms are gaining momentum in the industry and threatening more established players. CFS FirstChoice and BT Wrap are the two most widely used platforms among planners however newer platforms such as Netwealth, HUB24 and BT Panorama are steadily extending their market share, the research showed. In the InvestmentLink research Netwealth and HUB24 both came in as the top platforms in terms of overall adviser satisfaction for this year. CFS FirstChoice came in second, BT […]
Peer-to-peer lending remains unfamiliar for borrowers and investors
IT’S one of the fastest-growing financial products in Australia but two-thirds of us still have no idea what peer-to-peer lending is. New research by Finder.com.au has found despite the sector growing from one to eight lenders since it launched in Australia in 2012, 65 per cent of consumers don’t know about it and women are less likely than men to understand and use it. Peer-to-peer providers such as SocietyOne, Direct Money and RateSetter are fintech companies that link investors with borrowers using online platforms, typically offering better interest rates than people get from the banks. “Generally P2P providers may have fewer funds to spend on marketing,” Finder spokeswoman Bessie Hassan […]
CashDeck and MyMoney partner to educate on wealth management
CashDeck today announced that it has signed an agreement with MyMoney to provide personal wealth management software and financial education to over 1000 of MyMoney’s clients. The partnership will help MyMoney’s clients better understand their spending habits, allowing them to know at any given time what their money is doing. Graham Chee, Founder and CEO of MyMoney, a business that specialises in financial service solutions for self-directed clients, said he has recognised a noticeable shift in client behaviour in recent years. “Where once clients left everything in the hands of an adviser, these days they want to be across their finances and take more responsibility for their outcomes alongside their […]
Bitcoin civil war heats up ahead of key software upgrade
It’s time for bitcoin traders to batten down the hatches. The notoriously volatile cryptocurrency, whose 160 per cent surge this year has captivated everyone from Wall Street bankers to Chinese grandmothers, could be headed for one of its most turbulent stretches yet. Blame the bitcoin civil war. After two years of largely behind-the-scenes bickering, rival factions of computer whizzes who play key roles in bitcoin’s upkeep are poised to adopt two competing software updates at the end of the month. That has raised the possibility that bitcoin will split in two, an unprecedented event that would send shockwaves through the $US41 billion ($53.8 billion) market. While both sides have big […]
‘Secret millions’ of a cryptocurrency trader
An unknown cryptocurrency trader turned $55 million of paper wealth into $283 million in just over a month. The only clue about this person or persons, beyond a virtual wallet with the identification code 0x00A651D43B6e209F5Ada45A35F92EFC0De3A5184, surfaced on a June 11 Instagram posting, in Indonesian, in which he or she (or they) (or somebody posing as them) boasted about the 413 percent profit accumulated earlier this year from ether, the digital money of the Ethereum blockchain. “I get many private messages asking how much ether I have,” the post read, alongside photos that purported to be the hardware powering a mining operation but looked lifted from another website. “One of the […]
Finch founders urge banks to invest in start-ups, not ‘innovation theatre’
DomaCom acquires property via HUB24
DomaCom has completed its first fractional property transaction on investment and superannuation platform HUB24. DomaCom chief executive, Arthur Naoumidis, said: “Increasing our footprint on platforms is validation that our fractional property fund is gaining wider acceptance and a place in portfolio construction that can fit into any structure”. “We’re very pleased to add HUB24 to the list of platforms coming on board with DomaCom and in this case it is GPS Wealth adviser clients who have completed a crowdfunding campaign to acquire two properties in Victoria and Queensland,” he said. DomaCom’s fractional property investment model allows advisers to approach property as a portfolio strategy investing across multiple properties, property types […]
Trump fuels demand for more ethical investing
The unexpected rise of Donald Trump has helped fuel the formation of the “ethical generation,” which is comprised of socially conscious consumers committed to ensuring their investments are sustainable and align with their own world view. In the US calls to boycott Ivanka Trump’s fashion brand saw it dumped from major department stores and after ridesharing service Uber switched on surge pricing to capitalise on the crowds at an anti-Trump protest in New York, a #deleteuber movement kicked off. Last week anti-Adani coal mine protesters prompted the temporary closure of 11 Commonwealth Bank of Australia branches in Newcastle and the boss of the corporate watchdog, Greg Medcraft is on record […]
