Wealth

Iress has nabbed blockchain communication platform firm BC Gateways, with goals to expand the data sharing technology across the wealth sector.

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Investment platform Xplore Wealth has employed a former HUB24 business development manager to run its distribution network.

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Saxo Bank has teamed up with Geely to establish a financial and regulatory technology provider in China.

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Morningstar has predicted financial services software provider Iress will be able to escalate its market share from 65 per cent to 80 per cent as advisers and super funds look to mitigate risk post-royal commission.

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Investment platform forces such as Netwealth as well as legacy providers including IOOF could be vulnerable to new players charging lower admin fees, a UBS analyst has said.

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