DomaCom Australia completes crowdfunding of first mortgage backed loan
DomaCom Australia Ltd (ASX:DCL) has successfully completed the crowdfunding campaign to fund its first mortgage backed loan. The company’s online platform provides an opportunity for investors to invest in residential and commercial property across Australia through the fractional acquisition of units in a trust. Newcastle based financial advice firm Shartru Wealth Management used the DomaCom platform to acquire a $1.6 million residential property in Melbourne using both debt and equity. Internal gearing to deliver long-term returns The crowdfunding campaign was completed to raise about $682,000 for the equity component and another campaign was completed to raise the remaining $948,000 debt. DomaCom chief executive officer Arthur Naoumidis explained that one of […]
SelfWealth growing in the face of finance industry’s woes
The banking royal commission is currently underway and it’s fair to say that the stories emerging are nothing short of shocking. There’s endless tales of woeful and deceitful financial advice — so bad in fact that that it has even led to families losing their homes. It’s also come to light that for years financial planning groups have been unlawfully deducting service fees from customer accounts, even falsifying documents. The disturbing findings coming out of the banking royal commission should encourage many Australian investors to take more control over their investments and financial wellbeing. Amidst this turmoil has emerged an innovative solution for people wanting to take control of their […]
How SelfWealth’s MD got his startup IPO-ready
Startups contemplating an IPO must have all their ducks in a row and be willing to get their hands dirty, says Andrew Ward, founder and managing director of recently-listed fintech company SelfWealth. Launched in 2012, the online, cloud-based share trading platform offers investors flat fee brokerage, regardless of the trade size, as well as access to SelfWealth PREMIUM, a social network where share portfolios can be compared and constructed. “In an Australia-first, we’re allowing users to leverage the power and wisdom of the crowd when making investment decisions,” Ward told Dynamic Business. “Being the first to market in this space has created a powerful barrier to entry for other competitors, […]
Robo advisers march in tracks of royal commission scandals
The shenanigans revealed by the banking royal commission over the past week will inevitably draw attention to the emerging batch of start-ups offering digital financial advice. Often referred to as “robo advisers”, these technology companies are cutting investment fees through automation thereby removing the human foibles dramatically exposed by Commissioner Kenneth Hayne’s inquiry. The commission has shown human adviser education levels can be appallingly low, and paper-based processes have led to poor record keeping. Meanwhile, customers are often apathetic and disengaged, and complexity reigns. Processes being digitised include the creation of broking accounts, executing trades, rebalancing portfolios and generating statements of advice. This can all be presented to customers for […]
Stone & Chalk founded startup SkyBuys to launch duty free project with Heinemann Australia
SkyBuys is pleased to announce Heinemann Australia (HEINEMANN Tax & Duty Free) has signed an agreement to trial the SkyBuys App and technology platform for duty free shopping. Announced today at the Airbus BizLab DemoDay in Hamburg, the SkyBuys-Heinemann Australia project is scheduled to commence in early Q3 2018 at Sydney Airport, Australia’s major international airport. Founded at the Stone & Chalk fintech hub in Sydney, mobile commerce startup SkyBuys developed the SkyBuys App for international passengers to shop for duty free at any stage of their journey, including in-flight. The App allows passengers to search and purchase duty free inventory in-app from the time they receive their ticket through […]
Cashwerkz term deposit datafeeds now available through XPlan (IRESS).
Cashwerkz now provides a direct feed into XPlan, which enables advisers who hold their clients’ term deposits with Cashwerkz to map this portfolio information into their clients’ XPlan record. The datafeed from Cashwerkz will provide advisers with the ability to comprehensively measure asset allocation, cash exposure and liquidity levels from a total portfolio perspective. This provides a great opportunity for advisers to actively manage their client’s term deposits, enabling them to offer clients greater choice and potentially better outcomes for cash investments. “This is an exciting development for Cashwerkz to further service prospective and current loyal advisers who rely on Cashwerkz for their client’s cash investments” said Hector Ortiz, CEO […]
Seasoned Executive is appointed CEO of leading Fintech Macrovue
AMP-backed fintech Macrovue is pleased to announce today it has appointed Rod Bristow as CEO. Rod is a former Chief Operating Officer and alternate Managing Director of Australia’s largest online stockbroker CommSec. Most recently he was Managing Director and CEO of Infocus Wealth Management – a national financial advice, asset management and technology group. In these roles, Rod led large teams to drive substantial growth organically and via mergers and acquisitions. Macrovue will retain the expertise and capability of Founder Dr Sid Sahgal, who will move into the newly created role of Chief Operating Officer. This strategic move will provide substantial depth of capability for Macrovue to deliver on its […]
Moneysoft partners with managedaccounts.com.au
Moneysoft has partnered with managedaccounts.com.au to offer its personal money management solutions to all financial planning practices using the ASX-listed online platform provider. Under the agreement, advisers receive preferential pricing on both Moneysoft Lite and Pro. Those tools enable them to provide additional client services, build greater engagement and unlock further efficiency. Managing director of managedaccounts.com.au, David Heather, said that there is a natural alignment between the two companies with their shared focus on empowering advisers and their clients. “The growth in managed accounts is part of an industry-wide shift to more transparent and efficient investing. Pairing our next generation platform with Moneysoft’s money management, cash flow and budgeting services […]
