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.
“As a leading non–insurance-owned advisory platform, FA Corp is well positioned to benefit from industry consolidation. iFast also views FA Corp as a potential long-term winner, with a possible listing over the next two to three years,” says DBS.
The way DBS sees it, the transaction strategically creates a bridge between iFAST’s wealth platform and its B2B advisory ecosystem, enabling deeper collaboration, enhanced adviser support and a scalable foundation for future expansion.
“We forecast earnings growth of 44% in FY2025, followed by 26% and 25% in FY2026 and FY2027, respectively. The acquisition also supports iFast’s progress toward its assets under administration (AUA) target of $100 billion by 2028–2030, up from $27.2 billion (+29.6% y-o-y) as of end-September 2025,” says DBS, adding that iFast’s AUA has historically grown at about 20% CAGR over FY2014-FY2024.
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As at 11.05am, shares in iFast are trading at $9.53, up 29.4% in the past 12 months.
