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InvestmentLink buys stake in DMS
Superannuation administration platform provider InvestmentLink has picked up a 50 per cent stake in financial services software provider (DMS).
The transaction stems from the two companies having worked together in servicing joint customers and will see InvestmentLink providing a capital injection into DMS aimed at assisting in the funding of new service developments.
The agreement underpinning the transaction provides InvestmentLink with an option to purchase the remaining 50 per cent of DMS in 2008.
Commenting on the transaction, InvestmentLink managing director said the industry had been crying out for a centralised solution to the problem of dealer and adviser remuneration management.
“DMS’ core skills in commissions management, combined with InvestmentLink’s industry hub architecture, will allow us to offer a centralised service for managing the flow of payments between providers, dealers and advisers on an industry-wide scale.”
Phillip said that while both companies intended to operate separately, they would cooperatively work on the release of new products and services that leveraged the assets of both organisations over the next 12 months.
AUTHOR
Mike Taylor
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