|        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Wednesday, February 24th, 9:58PM


Latest Headlines

Plantech sold to X Plan

Insurance research company Plantech has been sold to a company which has just done a deal with the ASB-owned Aegis platform business.

Thursday, September 28th 2006, 7:01AM

by David Chaplin

In a deal that could extend its market presence in New Zealand, Xplan, the Australian financial advisory software firm, which just signed an agreement with the Aegis wrap, has purchased risk researcher PlanTech for A$15 million.

PlanTech, which has a significant client base in New Zealand and South Africa as well as Australia, will immediately replace the outsourced risk research module currently available on Xplan.

According to Andrew Walsh, Xplan managing director, the PlanTech deal will create efficiencies for its current users of its front-end financial advisory software.

“We are also keen to capitalise on the market presence that PlanTech has established in New Zealand and South Africa with our leading wealth management solution,” Walsh said in a statement.

Last week Xplan signed an agreement with the Sovereign-owned Aegis wrap to integrate its planning software in what was the first major foray of an Australian financial planning software provider into New Zealand.

However, rival software firm IWL has some New Zealand clients using its Visiplan software, most of whom it signed on after its purchase of the Boss Software insurance researcher firm in April for A$2 million.

Xplan is the last of Australia’s front-end software firms to tie in an insurance capability to its financial planning toolkit following IWL’s takeover of Boss and the move by the other major player in the field, the Macquarie-owned Coin, to develop its own insurance software module.

According to a statement released on Monday, both Xplan and PlanTech reported annual revenue of about A$8 million each. ASX-listed financial software company IRESS bought Xplan in 2003 for A$5 million following the collapse of an earlier attempt to purchase the IWL-owned Visiplan.

PlanTech principals, Tony Smith and Mark Young, will stay on to manage the business as it transfers from desktop delivery to a web-based system.

« Fidelity Life profit up 77%Disclosing amount of commission unnecessary »

Special Offers

Commenting is closed



Printable version  


Email to a friend
Insurance Briefs

Fidelity Life’s transformation continues with top culture award
Fidelity Life's tech team pick up a gong at IT awards.

Fidelity Life dials up new tech
Fidelity Life says its new telephony solution deliver immediate benefits to customers and advisers.

AIA pimps up its Quick Quote calculator
AIA has enhanced its Quick Quote tool, which it says provides an opportunity to attract new, more qualified customers.

Southern Cross to bring mental health programme to kiwi kids
The programme aimed at helping kiwi kids navigate life’s ups and downs will soon be available free of charge to any primary or intermediate school in New Zealand.

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News


Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
Site by Web Developer and