Rubik buys COIN Desktop
Technology provider Rubik Financial has further expanded its reach into the planner market by purchasing another piece of software from Macquarie Bank.
Rubik today announced it had entered into a binding agreement to acquire Visor Desktop financial planning software (formerly COIN Desktop) from the bank.
Visor is a suite of financial planning tools and software solutions for independent or boutique advisers and was based on COIN, which Rubik purchased from Macquarie in 2012.
As part of the 2012 transaction, Macquarie continued to service the majority of COIN's boutique clients, with the renamed software Visor.
Rubik managing director for wealth Wayne Wilson said the agreement meant the tech firm would now service the clients that were retained by the bank.
Earlier this year the firm announced the acquisition of another financial planning software firm, Provisio.
"The acquisition of COIN in 2012 expanded Rubik's wealth offering to the financial institution market and created significant scale across the group," Wilson said.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
