Santapau acquires mortgage software provider, Pisces Group
Investment group Santapau Limited has acquired mortgage software company Pisces Group for an undisclosed sum.
The acquisition, backed by clients of Gleneagle Securities, will see Santapau launch a range of new financial products to the Australian market.
In the meantime, Pisces's mortgage service and its Newsnet messaging business will converge under a unified brand, to be launched in the coming weeks.
Commenting on the move, Santapau director Delan Pagliaccio said the investment group was looking forward to delivering new solutions to existing clients of Pisces, and adding to its team to provide more options and support for customers.
Pisces chief executive officer Jega Rajan said the mortgage software company would work towards "a smooth and transparent" changeover, and would keep customers, partners and suppliers informed throughout the acquisition process.
Recommended for you
It can be extremely hard to realise the gains from financial advice M&A, according to Peloton Partners’ Rob Jones, and more could be gained from firms looking inward at their own practice.
With platforms reporting their quarterly results, there is a clear divide in the adviser markets they are targeting, according to platform specialist Recep Peker, and which would be right for your clients.
The Federal Court has imposed a $10 million penalty on Macquarie Bank for failing to prevent and control unauthorised fee transactions by third parties including financial advisers.
A financial advice firm has seen a weekly decline of 10 advisers, with all moving to a new licensee, while Centrepoint Alliance continues its “growth story”.