Mortgage and wealth franchise Yellow Brick Road (YBR) has bought online advice platform brightday from News Corp.
YBR executive chairman Mark Bouris
says the addition of brightday is the latest in a series of acquisitions and announcements to deliver on the company’s digital strategy.
“This acquisition is a key part of our direct and online strategy to be launched to consumers in FY2017,” Bouris said.
“brightday serves a similar customer segment to Yellow Brick Road. Our 2020 customer strategy ensures we can service customers via the means and channel they prefer: many will prefer face-to-face support which is why we will double our branch network by 2020, white others have a bias towards direct-digital product and the majority will seek a blend of both.”
The acquisition will also deliver on YBR’s big push into wealth management.
“This digital push is focussed first on foremost on accelerating our wealth business growth. We want 30% of our customers accessing our wealth services by 2020. Wealth is a real differentiator for us and a major focus over the next four years,” Bouris said.
In June, YBR began rolling out its robo-advice tool, Guru, to its national branch network.