ING has taken a 13 per cent strategic stake in InvestorWeb, becoming the second biggest shareholder in the research and technology outfit.
The investmewnt follows the signing of a deal between ING financial planning subsidiary Partnership Planning to provide the high-end Visiplan software to all the group’s advisers.
It also follows Anton Tagliafero’s exit from the InvestorWeb shareholder register a few month’s ago, after his Investors Mutual group decided to split from the listed InvestorWeb structure.
ING Australia managing director John Wylie says the investment is based on the group’s confidence in the potential offered by InvestorWeb, viewing the purchase as part of a “strategic relationship”.
InvestorWeb chief executive Otto Buttula says ING’s presence would add financial strength and global reach to the group.
