Australasian Wealth Investments (AWI) has agreed to acquire online financial services portal YourShare Online Financial Business.
The deal will include a cash consideration of US$10.5 million plus an additional US$2 million in cash subject to YourShare’s net tangible assets being greater than an agreed minimum
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
YourShare is an online financial services portal in Australia which provides self-directed investors with low cost access to financial information and products.
It has revenues of US$5.2 million, funds under administration (FUA) of US$915 million, with over 16,000 invested clients.
AWI will now own two of the major online self-directed financial services portals in Australia, with combined FUA of US$1.6 billion over 40,000 invested clients and more than 300,000 subscribers to its website, in addition to an undiluted 49.6% share of van Eyk Research, which has US$1.2 billion in FUM.
InvestorDaily quoted Andrew Barnes, chairman of AWI, saying that in October he was seeking to build out a post-FOFA business with three components: independent research; tools for clients (such as asset allocation tools, risk profile tools and portfolio selection tools), as well as a fund management operation if clients require it; and a direct-to-consumer component.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
