Spring FG expands into ‘robo-advice’

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on-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.