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iFast’s proposed acquisition of Financial Alliance stake could be more exciting than it looks

iFast’s proposed acquisition of Financial Alliance stake could be more exciting than it looks

By Swedan Margen

Fashion

The relatively modest investment could burnish the growth strategy of iFast, which is on track for a multi-year growth trajectory

When digital banking and wealth-management platform iFast Corporation announced after market close on Monday (Jan 5) its plan to acquire a 30 per cent stake in Financial Alliance Corporation (FA Corp), it barely registered a blip in the market.

Shares of iFast edged up 0.7 per cent on Jan 6 – the day after – falling far short of the 1.3 per cent rise of the benchmark Straits Times Index (STI) the same day.

FA Corp is the holding company of Singapore-based Financial Alliance, a financial advisory firm with over 450 representatives; it is also the majority shareholder of FA Advisory, a licensed financial planning and advisory firm in Malaysia.

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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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