Coin broadens its capabilities
Coin Financial Planning Software has acquired a 50 per cent stake in paraplanning outsourcing specialist Outplan Outsourced Solutions.
The acquisition by Macquarie Adviser Services-owned Coin is aimed at expanding its paraplanning service to its client list of institutional and boutique dealer groups.
“Keeping up with demand due to the current shortage of well trained paraplanners has been difficult for clients,” according to Coin managing director Tony Graham.
“We’ve had a number of financial planners tell us they are experiencing difficulty with the lack of high quality and affordable paraplanners,” he added
“However, the ability for them to tap into the expertise and service culture of Outplan will mean they can spend more time with their end clients.”
Established two years ago by Andrew Whelan and Michael Blanchflower, Outplan will continue to operate as an independent company in terms of the partnership.
Whelan said the partnership would “save planners money, as a result of the shortage of paraplanners in the Australian market”.
The shortage meant it was “becoming very expensive for dealer groups and boutiques to hire their own in-house paraplanning staff”.
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