Link Group is harnessing the real-time data, budgeting and reporting capabilities of Personal Financial Management (PFM) tool provider, Moneysoft, aiming to assist advisers to better manage their money through the investment.
Link Group digital and data services chief executive, Paul Gardiner, said that the investment in Moneysoft would see the two companies collaborate on new product innovation ventures.
Link and Moneysoft will release a range of new tools for superannuation fund members to manage overall wealth.
Gardiner said: "The more people are engaged with their finances, including their super fund balances and overall wealth portfolio, the more engaged they are with budgeting for the future."
Moneysoft managing director, Peter Malekas, said Link Group's interest was a step forward in a strong period of growth for the Sydney-based firm, which would see Moneysoft unveil new products targeted at superannuation funds members and planners.
The announcement of the investment follows a series of recent technology partnerships announced by Link Group, including with Ignition Wealth, IXUP and San Francisco-based company, DocuSign.