ING takes stake in InvestorWeb
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.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.