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
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
