YBR acquires News Corp’s investment platform

Yellow Brick Road Holdings (YBR) has acquired a digital wealth management platform from News Corp, in a move it says falls in line with other digital plans.

The company said it acquired Brightday, a platform that allows self-directed investors to manage their own superannuation online. The acquisition is expected to provide YBR with an "important capability" for its digital strategy, the company said in a statement.

YBR executive chairman Mark Bouris said: "This acquisition is a key part of our direct and online strategy to be launched to consumers in FY17."

He added: "Brightday serves a similar customer segment to Yellow Brick Road. Our 2020 customer strategy ensures we can serve customers via the means and channel they prefer: many will prefer face-to-face support, which is why we will double our branch network by 2020, while others have a bias towards direct-digital product, and the majority will seek a blend of both.

"The acquisition of Brightday helps enable this."

According to the statement, investing in consumer-facing advertising during the last five years has built a "strong brand", which the company intends to leverage in the digital space.

Mr Bouris added that this awareness is already resulting in direct inquiries from many customers for insurance, as well as some funds management and superannuation product.

"This digital push is focused first and foremost on accelerating our wealth business growth. We want 30 per cent of our customers accessing our wealth services by 2020. Wealth is a real differentiator for us and a major focus over the next four years," he said.

"Giving customers superior digital access and tools for investments and superannuation is an important tactic in building our wealth volumes. We have already seen great engagement through Guru, our robo pre-advice tool. Brightday is the next enhancement."

Add comment

Security code


+2 #1 Matthew Ross 2016-03-24 10:53
From an article on the SMH website:

"YBR executive chairman Mark Bouris said the deal will allow it to sell its loan and wealth products directly online for the first time."

We're moving ahead in leaps and bounds with this whole separate product from advice thing #facepalm

Feature Video

Latest Blogs


Key budget changes for businesses

Peter Bembrick: Small businesses in particular should benefit from these changes, which include: Company tax rate reduction Over the next decade, the company tax rate will be reduced to...More >>

Robo-advice – it’s not about us

Duncan McPherson: Sadly, it appears that the vast majority of comments are from a developer's or competitor's perspective, with very few focusing on the customer. My concern was...More >>

Regime change: Why advice rules must be unified

Philippa Sheehan: I think most of us can agree that for all its foibles, the AFSL regime is a vast improvement on all previous attempts to regulate...More >>

Latest Comments