Iress withdraws FY20 guidance
Financial services software firm, Iress has decided to withdraw its FY20 guidance due to ‘the broader uncertainty surrounding COVID-19’, the company said in the announcement made to the Australian Securities Exchange (ASX).
Iress said that in the early part of 2020 its operations had performed in line with expectations and the firm did not see any material revenues impact as a result of COVID-19 however this had now changed and it would be difficult to predict what lay ahead.
“We continue to operate and support all services. Our teams, including business-critical teams, are working well remotely and can continue to successfully operate remotely for an extended period of time if required,” Iress’ chief executive, Andrew Walsh, said.
“We continue to anticipate and respond to the COVID-19 situation and are focused on supporting the health and welfare of our people, service continuity to clients and users, and assistance to the community.”
Recommended for you
It can be extremely hard to realise the gains from financial advice M&A, according to Peloton Partners’ Rob Jones, and more could be gained from firms looking inward at their own practice.
With platforms reporting their quarterly results, there is a clear divide in the adviser markets they are targeting, according to platform specialist Recep Peker, and which would be right for your clients.
The Federal Court has imposed a $10 million penalty on Macquarie Bank for failing to prevent and control unauthorised fee transactions by third parties including financial advisers.
A financial advice firm has seen a weekly decline of 10 advisers, with all moving to a new licensee, while Centrepoint Alliance continues its “growth story”.
