Managed accounts provider enters crowdfunding

ASIC has granted a variation to the AFSL of a managed accounts provider, allowing it to provide an equity crowdfunding service.

BIR Financial told shareholders that its securities trading and corporate advisory business, Pulse Markets, was recently granted permission to begin an equity crowdfunding service.

Pulse Markets currently offers several model portfolios to clients as part of its managed discretionary accounts business. It also provides securities trading services to retail and wholesale investors.

BIR Financial is listed on the ASX and said in a statement that: “Pulse Markets maintains its advantage in the rapidly evolving financial services industry through independence, innovative financial products and new market opportunities to meet clients’ investment demands.”

“Pulse can now provide equity crowdfunding services to compliment this strategy,” the statement said.

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Source: Managed accounts provider enters crowdfunding | Financial Standard