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Geoswift Secures SVF Licence as Hong Kong Steps Closer Towards a Cashless and Digital Payment World

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Geoswift, a leading provider of cross-border payment solutions between China and the rest of the world, announced today that its Hong Kong entity has been granted a coveted Stored Value Facilities (“SVF”) Licence by the Hong Kong Monetary Authority. With the SVF licence, Geoswift can provide greater convenience and a better experience for consumers and merchants and move closer to providing a seamless cashless, digital payment world.

Stored value facilities are changing the fintech landscape in Hong Kong, and as more companies such as Geoswift hold SVF licences, it is creating a competition which is innovating the marketplace. This increase in diversity will result in new services which will bring more convenience and choice to both consumers and merchants.

Geoswift has been recognised as the leading global payments specialist, providing value-added, one stop payment solution for the e-Commerce, education and travel sectors. With the acquisition of an SVF licence, Geoswift can now integrate its product offerings and craft more comprehensive and diverse payment solutions to bring even greater convenience and better payment experience to consumers and merchants, alongside its other regional licences.

“With Hong Kong’s proximity to China and its position as the gateway to ChinaHong Kong is one of the most well-connected fintech hubs in the world. Obtaining the SVF licence in Hong Kong does not only allow us to meet our future growth plans within Asia Pacific and the Greater Bay Area in particular, but also enable us to expand our current set of product offerings to offer more comprehensive cross-border payments solutions globally.”

Raymond Qu, Founder and CEO of Geoswift, said, “As a market-leading provider of cross-border payments solutions in and out of China, Geoswift takes a long view on all of our product developments and actively seeks opportunities to deliver sustainable value for our partners and clients today and tomorrow. With our new SVF licence as well as our other regional licences, we have a very solid foundation to deliver more comprehensive payment solutions to foster a truly cashless and digital payment world.”

 

SOURCE Geoswift

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SEC Qualifies DiversyFund to Drop Investment Minimums for Real Estate Fund to $500

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DiversyFund, a financial tech company providing everyday Americans with the same investment opportunities as the wealthy, announced today it has received qualification from the U.S. Securities and Exchange Commission (SEC) to lower the minimum amount required to invest in its commercial real estate investment trust (REIT) to $500.

DiversyFund’s Growth REIT is a fund that allows everyday people to invest in multiple value-add apartment complexes, meaning apartments in need of upgrades. These improvements may include everything from new flooring to putting in a dog park – each enhancement adds more value to the properties than the cost of making the upgrades. About one year after DiversyFund purchases a property, it begins generating cashflow from rents. Then, after 4-6 years, the company is able to sell the apartment complex, typically for substantially more than the purchase price, generating returns for investors.

Historically, to invest in a private, non-traded commercial REIT like this one, individuals had to have a net worth of at least $1 million (excluding primary residence) or an income exceeding $200,000 over the prior two years ($300,000with a spouse). The invest minimum typically required to participate in these deals would range from tens of thousands to around $250,000.

“We believe that everyone deserves the choice to build their wealth,” said Craig Cecilio, co-founder and CEO of DiversyFund. “During my 20 years of experience managing more than $500 million in assets, I continuously saw the wealthy getting in on deals that weren’t accessible to the average person. After years of watching the rich get richer, I was determined to find a way to include the everyday person in these incredible investment opportunities and leverage technology to make investing simple.”

“We went through a rigorous screening process with the SEC to gain the qualification we needed to open up access to these exclusive deals and make investment minimums affordable for everyday Americans,” said Cecilio. We’re thrilled we can now give people the choice to invest for as little as $500. We’re ready to grow our community of next generation investors and start closing the wealth gap plaguing our society.”

DiversyFund doesn’t charge any platform or management fees and has eliminated third party costs by cutting out all of the middle men and managing every process internally, from purchase to sell. DiversyFund doesn’t make money until its investors make money – after the sale of the properties.

 

SOURCE DiversyFund

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Vestmark Honored with Silver Stevie® Award at 2019 American Business Awards® Gala

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Vestmark is proud to have received the Silver Stevie® Award in the FinTech Solution category as part of the 17th Annual American Business Awards®, in recognition of the VestmarkONE®platform’s recently launched advanced options trading and risk management module.

Mark Peabody, Senior Vice President of Product Management, accepted the award on Vestmark’s behalf at this year’s American Business Awards gala last week at the Marriott Marquis Hotel in New York City.

This options module, available on the VestmarkONE® platform, provides an innovative trading and risk management capability that enables advisors to scale options trading and more efficiently use options strategies across all types of advisory programs.  With this tool, hundreds or even thousands of accounts – across an entire book of business – can be traded at once, without impacting accounts following models, avoiding false rebalancing alerts and model drift notifications.  The module also includes several automated risk management functions to help advisors and firms balance the risk of trading options.  For more details, visit https://www.vestmark.com/solutions/vestmark-one/options-trading-and-risk-management.

Over 3,800 nominations of public, private, for-profit, and non-profit U.S. organizations of all sizes, and from a wide variety of industries, were submitted to American Business Awards® categories this year.  More than 200 professionals worldwide participated in the judging process to select this year’s Stevie Award® winners.  For a full list of 2019 Stevie Award® winners, and to obtain more information about the American Business Awards®, visit https://stevieawards.com/aba.

In selecting the VestmarkONE® platform for its award, the panel of judges lauded the platform as an “impressive product and innovative usage of technology,” and described “VestmarkONE’s New Options Module, one of the best products in its category that allows users to provide options trading across platforms.”

“I commend our teams at Vestmark for their ongoing commitment to developing and enhancing leading edge technology solutions for financial advisors and institutions,” said John Lunny, CEO of Vestmark. “This innovative options trading and risk management module in the VestmarkONE® platform makes it possible to scale the implementation of sophisticated portfolio management strategies for clients and accounts of all sizes.  We are honored that our peers recognize the impact this innovation can have on the wealth management industry.”

 

SOURCE Vestmark

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Carson Crosses $10 Billion in Assets; Sets Sights on Deepening Value to Partner Firms

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Carson Group, one of the fastest growing financial services firms in the country, today announced the firm has surpassed $10 billion in assets under management. Hitting this milestone highlights Carson’s status as a top-ranked RIA and coincides with several other recent breakthroughs for the organization.

  • Carson Partners, which include 108 firms and nearly 230 advisors within its ecosystem, now collectively serves more than 27,000 families across the U.S.
  • Signed net new assets from incoming advisors have risen to $1.45 billion year-to-date.
  • 215 Carson stakeholders now support the firm’s various advisor coaching and partnership offerings, 49 have joined in 2019 alone.
  • The organization will begin construction this month on its 200,000-square-foot, Omaha-based headquarters, which is slated for completion in late 2020.

“This has been a monumental month for the entire Carson family; not only in memorializing how far we’ve come in the last decade with asset growth but also in what we’re doing now to prepare for the next chapter,” said Ron Carson, founder and CEO of Carson Group. “We’re laying the groundwork for what I believe will be a 100-year company. We’re not plotting a quick and profitable exit or looking to sell; we’re building something bigger than ourselves here. Something we intend will forever change the world of financial advice for the better.”

Carson is constantly looking to expand and improve the ecosystem it offers partner firms. By doing so, it’s experienced tremendous growth in a time of change in the profession. From the recent Regulation Best Interest Rule to industry consolidation and an aging advisor population, the organization provides financial advisors a path to navigate disruption.

Due to Carson’s fast-paced growth, proactive moves are being made, including a plan to hire between 30 and 40 additional stakeholders through the end of 2019, releasing further iterations of client-facing technology and tools to enhance the experience advisors are providing, and expanding departmental support to ensure advisors are well-equipped to take advantage of the competitive landscape for attracting new business.

“We aim to build – and become – that fast-growing, innovative hub for financial services, because we know our competitive advantage is that we can move faster and do more for our clients, for less,” said Aaron Schaben, Executive Vice President of Carson. “Every decision we’re making right now – and every new partner we consider – must always bring us a step closer to doing what’s right for our clients. Advisors are seeing Carson deliver on that promise, and that is what most excites me as we look ahead to our future growth.”

In addition to being a mainstay in the Barron’s annual list of top wealth management firms, Carson Group remains among the Inc. 5000 list of America’s fastest-growing companies, has been recognized for two consecutive years by InvestmentNews as a top-50 firm for Best Places to Work for Financial Advisors, and was awarded a Best Places to Work in FinTech by American Banker.

 

SOURCE Carson Group

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