Claims on fintech investment untrue says IRESS


IRESS chief executive, Andrew Walsh has disputed claims that the financial services technology industry is out of step with the financial planning industry's real needs.
Commenting on recent claims by InvestmentLink chief technical officer, Wayne Robinson, Walsh said there had been significant investment by both established fintech businesses and new players in delivering new solutions to meet the changing needs of financial advisers.
"While there is continued demand for ongoing innovation, his [Robinson's] comments that available solutions are limited and exclude parts of the financial advice industry are inaccurate," Walsh said."Many of the solutions Mr Robinson refers to as needed are already available in the market."
"Collectively financial advisers and the wider industry have committed significant amounts to investing in new solutions to meet business, client, and compliance needs," he said.
Recommended for you
Asset managers may be encouraged to diversify their product ranges and branch into the retail or intermediary market but, two consultants argue, they may find it more complicated and costly than they expect.
The US$837 billion fixed income manager has created a new head of asset-based finance role amid the rising client demand for asset-based financing and tailored investment solutions.
Platinum Asset Management has rejected a bid from PM Capital to acquire its two listed investment companies.
Money Management understands Natixis Investment Managers is planning to launch its own private asset product for the Australian retail market.