Sequoia Financial Group will sell Yield Report to Finexia Financial Group (ASX:FNX) in exchange for 500,000 ordinary shares in Finexia.
Yield Report, an online news portal focussed on fixed income and yield securities, offers financial planners and accountants a weekly report on cash accounts, bonds, and managed funds.
In addition to the sale, Sequoia and Finexia also established an alliance to jointly promote each other's services in the financial planning and accountancy sectors.
The move enhances Finexia's presence in the fixed-income market, while Sequoia sees it as an opportunity to better align and collaborate its services with those of Finexia.