Midwinter acquires InvestmentLink

Midwinter/InvestmentLink/

13 May 2019
| By Chris Dastoor |
image
image
expand image

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.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 5 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 3 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND