Non-aligned financial services provider Spring FG has acquired a digital wealth management tool in a bid to expand into 'robo-advice'.
The listed company has today announced it has acquired Digifi Group Pty Ltd, which it described as a “financial markets publisher and website operator” with 70,000 active members.
A spokesperson for Spring FG said the deal will take the company “into robo-advice”, and will complement its existing Wealthadviser Financial Education product.
“The acquisition adds people, partners and expertise that, in addition to enhancing our educational content, will help us expand and bring greater efficiency to our already highly successful digital marketing and client recruitment strategies,” said Spring FG managing director Keith Cullen.
“Our online community, that now exceeds 130,000 people, is one that is focussed on building, managing and protecting wealth, and it clearly has a thirst for information and is comfortable with technology.”
Spring FG paid $450,000 for 100 per cent of shares in Digifi.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 19 Jul 2018AMP unveils new in-house training programBy Reporter
- 19 Jul 2018Self-licensed adviser cops 4-year ASIC banBy Reporter
- 19 Jul 2018Hub24 to launch new core offeringBy Reporter
- 19 Jul 2018SMSF sector warns about advice ‘exodus’By Miranda Brownlee
- 19 Jul 2018Product issuers to be held accountable under new regulationBy Reporter
- 19 Jul 2018Advisers should ditch ‘tarnished’ bank brandsBy Tim Stewart
- view all