The directors of Millinium Capital Managers Limited, the responsible entity of the Millinium Alternatives Fund (ASX Code: MAX), are pleased to announce that the fund has made a significant investment in Australia’s leading digital financial advice provider, Ignition Wealth Pty Limited.
The investment is consistent with the fund’s mandate to invest in high growth opportunities. The digital financial advice sector is set to gain significant traction in the next few years. Demand for a low cost, easy to use consumer experience coupled with the best interest legislation will drive rapid growth.
“The Millinium Alternatives Fund’s key objective is to deliver extraordinary results to our investors. Globally, digital financial advice services are demonstrating rapid growth. We believe that Ignition Wealth delivers the best in class offering for the Australian market and provides the best opportunity for growth.”
Tom Wallace, Managing Director, Millinium Capital Managers.
The incumbent traditional advice industry has focused exclusively on the top 15 percent of the market, leaving 85 percent of Australians unadvised. This market gap provides a huge need and opportunity to leverage new technology to bring affordable independent financial advice to a mass market.
Ignition Wealth has built a strong reputation for excellence, providing technology solutions to Australian industry funds since 2010 and now setting the benchmark for digital financial advice in the Australian market.
“We welcome the investment in Ignition Wealth by the Millinium Alternatives Fund. It’s vital to match our capital resources with both our growth profile and market opportunities. We have a number of significant transactions in the pipeline. We are focussed on executing those opportunities and rewarding all of our investors.”
Mark Fordree, CEO, Ignition Wealth.
Ignition Wealth has recently announced several business advancements including partnership with global fund administrator Link Digital Solutions and a significant investment from Class and Countplus Chairman Barry Lambert.