DASH to acquire ‘whole-of-wealth’ Integrated Portfolio Solutions platform
DASH Technology Group has entered into a binding share purchase agreement to acquire Integrated Portfolio Solutions, allowing DASH to further develop a new advice model providing more Australians access to the financial planning and investment administration advice they need.
Darren Pettiona, DASH’s Executive Director of Strategy, commented on the acquisition, “Integrated is a synergistic fit and aligns perfectly with our strategy to assist advisers and institutions deliver a cost-efficient, scalable advice offering accessible to all Australians. Platforms should manage and report on assets in a way that provides a cost-effective outcome. Traditional platforms have struggled to effectively manage and report on non-custodial assets, akin to fitting a square peg into a round hole.”
Integrated is a portfolio administration solution that administers $10.6 billion in funds under administration (FUA) and expands DASH’s FUA to more than $15 billion. Integrated’s unique combination of technology and service removes the burden of portfolio administration and reporting as a ‘whole-of-wealth’ non-custodial platform. Integrated currently services investment advisers, family offices, financial planners, and ultra-high net worth direct clients.
Pettiona further explains, “We are unique to other platforms because we have advice software that transacts directly on our platform and without that unique value proposition many other platforms are commoditised services. To win the race and support of advisers, providers must demonstrate added value beyond basic administration. This includes delivering efficiencies to adviser practices, reducing the cost of delivering advice, and enhancing margins for planners who bear the cost of providing this advice.”
“DASH is a next-generation financial planning and platform technology company, the first of its kind to facilitate every part of the advice process—from client fact-finding to scenario and portfolio modelling, Statement of Advice generation, and execution of advice recommendations on an investment platform.
“By leveraging our digital advice and platform technology, advisers can finally implement a profitable, scalable solution to service low-balance and intergenerational clients. The addition of Integrated will allow DASH to efficiently serve the entire financial planning spectrum including high net worth, ultra-high net worth, and family offices.”
Commenting on the transaction, Integrated Portfolio Solutions Co-Founder Darryl Johnson noted, “We looked at a wide range of platform technology stacks and capabilities on offer in the market. DASH was the standout. We know that the next ten years in the industry won’t look anything like the last ten and having the most modern, functionality rich technology on offer will position us and our clients at the forefront of that change.”
“Having access to an end-to-end suite of wealth management technology where you can use all of it, or part of, or plug in what you already use via the many integrations DASH offers, is a game-changer for our clients. We look forward to a long and bright future with DASH and can’t wait until we can start bringing one of the best offerings to the broader financial services and wealth management market.”
The entire Integrated team will join the DASH business with no disruption to service. Darryl Johnson and Mark Papendieck will join the executive team of DASH reporting to the group CEO.
