Midwinter acquires InvestmentLink
Financial planning software provider Midwinter has announced it has completed its transaction to acquire InvestmentLink.
InvestmentLink was Australia’s largest independent datafeed repository, which fully serviced the Australian financial planning market.
The acquisition was completed on 10 May 2019 and financial details of the transaction had not been disclosed.
The majority of InvestmentLink staff would be retained, and the technology and teams would be consolidated over time.
Midwinter co-founders James Murphy, Andrew McClelland and Julian Plummer had been appointed to the InvestmentLink board.
Plummer would become managing director, while Salvador Saiz would maintain key relationships with platforms and datafeed clients.
“Midwinter identified that the InvestmentLink datafeed service will be a crucial component of the future advice landscape, given that the impending Open Banking legislation completely ignores superannuation products.” Plummer said.
“Additionally, we have found many of our digital superannuation fund clients prefer not to implement any systems where their members are required to share credentials to banking portals.”
AUTHOR
Chris Dastoor
Recommended for you
While the last several months have seen increased market volatility, particularly in the US, advisers said there are multiple reasons why there has been an increase in defensive asset flows.
Scarcity Partners believes the dynamics playing out in the managed account and outsourced chief investment officer market are “here to stay” based on positive developments in financial advice.
Former executive chairman of failed stockbroker BBY, Glenn Rosewall, has been charged with aiding, abetting, counselling or procuring BBY’s dishonest conduct in relation to a financial service.
Fidelity International research has revealed Australian investors are significantly more optimistic about the market outlook and feeling more comfortable than their APAC peers, despite ongoing market volatility.
