Fintech fund Reinventure seeking riskier investments
Armed with a $50 million cheque from Westpac and many lessons from their first fund, Danny Gilligan and Simon Cant are dialling up the risk. Not the type that raises eyebrows in banking, but rather trying to get more blockbuster returns out of the more mainstream fintech industry, even if that means failing often. “If you look at the data out of the US, the greatest risk as a venture capitalist is that you don’t take enough risk,” Gilligan told The Australian in their first interview since the founders of venture capitalist group Reinventure raised their second fund. “The worst-performing VC funds in the US, 50 per cent of the […]
How your broker’s performance numbers mislead you
by Doug Morris, CEO, Sharesight The human brain is easily conditioned. Do something for long enough and even the strangest things begin to appear normal. Online brokers don’t set out to deceive but the simplistic way they report performance has a similar, normalising effect. If your returns have been presented in a particular way for long enough, the figures become right even when they’re wrong. This is a problem for Sharesight as much as it is for the clients of online brokers. Accustomed to seeing the most basic reporting in their account, they load their data into Sharesight and struggle to understand how two sets of figures can be so […]
Logging on to the future of financial advice
For hundreds of thousands of investors around the world, the future of financial advice is already here. There is as much as $US300 billion ($392 billion) of funds under the management of robo advisers – computers powered by algorithms that can buy and sell on your behalf – with that figure expected to rise to $US2.2 trillion by 2020. To put that into perspective, these robo advisers could buy every company on the Australian Securities Exchange and still have a trillion dollars left over. While not all robo advisers have the authority to buy and sell, and others are rebadged offerings, the benefits of digitising and automating some of the […]
Acurity Online to launch actionable advice solution for superannuation funds
IRESS has accelerated online superannuation portal Acurity Online to draw on IRESS’ advice technology to demonstrate the direction of integration for Acurity and XPLAN, and enhance member engagement. The announcement follows IRESS’ acquisition of Financial Synergy last month. The solutions draw on XPLAN’s multi-channel advice technology. Acurity Online is an online superannuation portal for members, employers, advisers and administrators. It is an API- enabled digital portal that leverages the Acurity superannuation and wealth management registry, which administers approximately four million superannuation accounts and $250 billion in member funds. The solutions were previewed to representatives of superannuation funds and third-party administrators at the Acurity Client Conference in Melbourne yesterday. IRESS’ Managing […]
How this fintech startup is improving content marketing and lead generation
Financial marketplace startup, Neu.Capital, claims cost per acquisition has dropped by 60 per cent and content marketing quality has gone up after implementing an inbound marketing and sales platform. The company was formed in 2015, and provides an alternative capital marketplace for established mid-sized Australian and New Zealand companies looking to raise debt or equity of up to $100 million. The matchmaking service officially launched in August with six deals live in the platform, two to launch in coming weeks, then several more in January 2017. It also plans to launch in the UK in Q1 next year. Neu.Capital co-founder, Joshua Khoddami, told CMO lead generation activity had been going […]
Moneysoft launches new package designed to boost client engagement, satisfaction and revenue
Leading personal financial management (PFM) software provider Moneysoft has launched a complete package of resources and tools to help financial advisers introduce an effective, profitable budgeting and cashflow management service to their clientbase. Developed in conjunction with advisers, the Moneysoft Business Processes toolkit contains a series of eBooks, video tutorials, blogs, and client-facing brochures and templates. It is a complete, step-by-step guide on how to build and deliver a relevant goals-based, money management proposition; how to grow and diversify practice revenue; and how to achieve a deeper client engagement through “cashflow as a service”. According to Peter Malekas, managing director of Moneysoft, the ready availability of cloud-based Software as a […]
New tech solution for advisers
Fintech firm, Your Technology Made Lite (YTML), is integrating its Highlighter platform technology for advisers’ in-house Excel solutions to boost accessibility and integration with online systems. YTML chief executive, Kevin Liao, said that Highlighter had already been used for advice web apps and automated with an adviser’s existing IP. “Highlighter automates the development of a web app,” he said. “As long as advisers have the flow of data entry organised… we can configure and upload it into Highlighter and convert it into a web app for them. “Advisers, accountants and SMSF [self-managed superannuation fund] specialists have so much capability sitting within their practices, and by partnering with technology solutions such […]
Fintech launches robo-planner for SMSFs
Australian fintech start-up, A.S.A.P, is launching a digital advisory platform for SMSFs in response to the removal of the accountants’ exemption from the financial services licensing regime. A.S.A.P chief executive, Jim Hennington, said that the eponymous platform had been developed to fit the changing needs of SMSF clients and accountants. “We… have found a way to use technology as the elegant solution to disruptive changes in the law,” he said. “It helps SMSF trustees and their accountants, while supporting an important public policy objective.” Hennington said plenty of SMSF accountants had yet to decide whether to refer client questions to licensed advisers in the period from 1 July, or whether […]
