Recently SWF ditched Open Markets for FNZ securities. FNZ securities has a feature that automatically instructs clients share registries to pay dividends directly to their self wealth bank account. This has slipped under the radar but has probably been a small stroke of genius, provided it hasn't ticked off too many clients. I personally think it's pretty convenient, and should help alleviate point number 3 below.
Not 100% sure what to make of SWF's business prospects at the moment but note the following:
- Cashflow positive
- Organic growth is slowing, and possibly flat.
- People are moving cash of the platform because it is earning no interest .
- Datt Capital owns a lot of shares.
- They have about $10mil in cash
I think this could be a candidate for a merger or acquisition. Watch this space.