InvestorWeb signs deal as split is finalised
Online financial services group InvestorWeb has signed a contract to provide its VisiPlan software to all planners working under the Partnership Planning dealer umbrella.
While Partnership Planning, a member of the international ING Group has been progressively rolling out VisiPlan since March, the signing represents the final stage in the deal to extend the financial planning software throughout the entire group.
Partnership Planning assistant general manager, David Love says the rollout of VisiPlan across the group’s network emphasises its commitment to providing quality tools and business systems to its advisers.
According to InvestorWeb’s chief operating officer for business development Tracy Dutt the financial planning software was created using a “bottom-up” approach to product development that puts understanding the day-to-day needs of the planners first.
The Partnership Planning deal is a welcome shift for the InvestorWeb group, which has been obscured by a dark cloud for the past few months following the split with its funds management arm Investors Mutual last month.
The split between the two groups was finalised last Friday at an extraordinary general meeting. At the meeting, InvestorWeb shareholders voted to dispose of the Investors Mutual funds management arm in return for the cancellation of 35.5 million share options.
Shareholders also approved of a change in the share option plan, lifting the limit of share capital in InvestorWeb that can be committed to options from five per cent to 10 per cent.
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