Administration provider Link Group has made an investment in personal finance management software company Moneysoft.
The investment will see Moneysoft’s services both superannuation funds and listed company clients through Link Group’s existing offerings, the company said.
“Initially, Link and Moneysoft will release a number of products designed to help superannuation fund members manage their overall wealth,” Link Group said.
“These will be delivered through Link’s member portal in addition to mobile apps.”
Moneysoft managing director Peter Malekas said the partnership would present both businesses with “a lot of opportunities”, adding that the business was expanding further into the superannuation space.
“Moneysoft is in a period of growth with several new products on the horizon targeting financial advisers and superannuation fund members, complementing Link’s offering and technological expertise,” Mr Malekas said.
By investing in Moneysoft, Link Group said it hopes to “further enhance the suite of products available” to its broader client base and, as the company’s digital and data services chief executive Paul Gardiner remarked, encourage more participation from clients.
“The more people are engaged with their finances, including their super fund balances and overall wealth portfolio, the more engaged they are with budgeting for the future,” Mr Gardiner explained.
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