Matrix acquires Prospera
National dealer group Matrix Planning Solutions has announced the purchase of the remaining stake in financial planning software firm Prospera.
The deal follows negotiations with joint venture partner Universal Financial Solutions (UFS) and corresponds with the group’s ongoing growth strategy.
Matrix executive director for Prospera sales and strategy Allison Dummett acknowledged the contribution of financial planning firm UFS, which provided intellectual capital and intensive development time to the venture.
“Matrix has continued to invest real capital in the development of the software, engaging professional programmers and actuaries,” she said.
“It was time to take full ownership in order to drive the software further. Our goal, and that of Prospera, is that Prospera becomes the premier strategic modelling tool for advisers in Australia.”
Matrix committed additional capital to enhance the software to model client scenarios in the savings phase as well as in the retirement phases of financial life.
While the software is currently exclusive to Matrix, the group is looking for opportunities to offer it to other specialist dealer groups.
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