Link Group has bought the Adviser Network from Lonsec Fiscal Holdings, which is the holding company for SuperRatings too, giving it an additional range of services to offer its big super funds and other clients, including robo-advice and advice compliance.
The Adviser Advice business, founded in 2011, provides digital and advice services to a large number of super funds, many of which are already Link clients of its super admin business.
The acquisition will complement the existing product suite offered by Link Group’s Information Digital and Data Solutions (IDDS) business division, as well as the range of tailored advice services offered by Link Advice.
Link has also offered to its clients a robo-advice solution on behalf of Ignition Wealth, in a partnership deal announced last year, with HESTA the first big super fund to take it up. The two businesses are seen as complimentary. Ignition Wealth last month announced a tie-up with BT’s Panorama platform and subsequently sought to raise another $5 million off the back of that deal.
Adviser Network’s digital solutions products are designed to be integrated into the current digital strategies of super funds. The product list includes one of the first to market robo-advice services, Super Blueprint, which provides advice across investment choice, retirement adequacy, superannuation contributions and insurance.
Adviser Network also provides a full suite of services to support the advice operations of superannuation funds. Building or enhancing a financial advice capability is a growing focus for superannuation funds and Adviser Network supports this ambition by helping superannuation funds with adviser compliance, licensing, advice efficiency, technology and adviser support.
Paul Gardiner, IDDS chief executive, said: “The acquisition of Adviser Network is firmly in line with Link Groups growth strategy and will reinforce Link Groups position as the leading provider of innovative, digitally empowered solutions to superannuation funds.
“Superannuation funds are increasingly tapping into the power of technology to improve the member experience, and via the digital expertise of Adviser Network, Link Group will be even better placed to assist funds to develop bespoke solutions.”
Amanda Gillespie, Lonsec Fiscal chief executive, said: “We are confident that the sale of Adviser Network to Link Group will provide clients with a seamless transition of services. Going forward, Lonsec will continue to focus on the execution of a number of new developments, including the soon to be launched, Lonsec Connect, a service that will change the way people think about analysing financial services’ industry data.”
Greg Bright is publisher of Investor Strategy News (Australia)