WealthO2 expands with two software mergers
Wealth02 has merged with financial planning software firm, Roar Software, and wealth platform software specialist NEO.
The move would create an advice technology solutions business which was focused on solving problems throughout the end-to-end adviser experience.
The firm said this would include client engagement, strategy optimisation, digital statements of advice and progression of lifestyle goals.
Feedback from advisers had told the firm they were “tiring of inflexible product-based sales” and would prefer a tailored solution instead.
Kevin Liao would move from his role as chief executive of Roar to executive director of software solutions while NEO chief executive, Rudi Engelbrecht, would be group chief operating officer.
Andrew Whelan, chief executive of WealthO2, said: “The coming together of WealthO2, Roar and NEO creates an exciting and significant step in our innovation, capabilities and size of the team. This will enable us to offer highly flexible and solutions to financial advisers to solve any critical business issue.
“We now offer solutions to every challenge advisers face within their practice, either with our end-to-end solution, or by extracting any part of this and inserting it into an advisers existing workflow to solve a particular problem.”
Liao said: “Advisers are crying out for solutions more than more product options, and I think this an exciting opportunity to offer something uniquely powerful to advice practices”.
AUTHOR
Laura Dew
Recommended for you
The Finance Sector Union has urged any private equity deal for Insignia Financial should make wellbeing paramount for its 4,000 employees, having spent 2024 negotiating an enterprise agreement.
In its pre-budget submission, the FAAA has proposed a government assistance package that could see up to 1,000 financial advice practices receive $10,000 each for hiring a PY candidate.
A third private equity player has emerged in the bidding war to acquire Insignia Financial, rivalling Bain Capital and CC Capital.
The proportion of advisers working at a privately owned licensee rose to 78 per cent in the fourth quarter of 2024 as over 1,000 advisers left a diversified firm.
