Investment Trends and Finura enter alliance

Specialist financial services research house, Investment Trends, has formed an alliance with global technology consultancy, Finura Group, aimed at delivering deeper insights around the relative merits of financial advice software.

As a result of the alliance between the two firms, Finura will be launching an Insights division.

Finura was launched in Australia by Enzumo’s Peter Worn and Aron Satchell in August last year with the establishment of a wealth technology advisory arm.

Explaining the arrangement, the two firms said it would involve three areas of research combining their capabilities:

• Examining adviser’s evolving technology needs, key platform and planning software industry trends, drivers/barriers of selection and satisfaction with platforms. Recent Investment Trends research shows this is an area of increasing importance as evidenced by the 2021 Adviser Technology Needs Report showing that COVID has accelerated the use of digital tools in all areas and the uptake of digital engagement methods look set to stay, particularly online meetings, digital signatures, and email campaigns.

• Providing an in-depth review of recent developments in the Australian advice technology space, including a benchmark of functionality offered by established advice software providers. Advisers are seeking information around where they sit compared to their peers and areas for improvement. To support this, our 2020 Advice Technology study showed numerous acquisitions and new start-ups entering the space prompting the industry’s leading providers to rebrand and reposition through increased advertising and funding for adviser support activities.

• The latest developments in digital technology used to deliver wealth services to Australian retail consumers. We saw these developments through the results of our 2022 Digital Wealth research showing that with open banking enabling a fifth generation of digital wealth fintech start-ups, alongside the ongoing digital transformation of financial services, product providers, super funds and wealth managers are looking for better ways to engage with their users.

Commenting on the alliance, Finura Group joint managing director, Peter Worn said it marked an important milestone for the business.

“We believe it is a compelling combination of deep quantitative analysis and digital strategy which can drive the transformation of wealth management through technology,” he said.

Investment Trends chief executive, Sarah Brennan said that working with Finura Insights meant that clients of both firms would receive a fusion of research and innovation in the technology space.