In a Jan 6 note, DBS says that the acquisition is aligned with the group’s strategy to capitalise on the structural growth of the wealth management industry, where scale, operational efficiency, broad product access, and technology leadership are increasingly critical.
DBS Group Research is keeping its “buy” recommendation and $12.00 target price on iFast the back of the group’s 30% stake acquisition in Singapore-based financial advisory firm Financial Alliance Corp (FA Corp) for $19.6 million.
See more: iFast Corporation to acquire 30% stake in Financial Alliance Corporation for $19.58 mil
