Macquarie acquires Coin Software

10 June 2005

Macquarie Adviser Services today announced it had extensively expanded its service offering to financial advisers with the acquisition of Australia's leading financial planning software company, Coin Software Pty Ltd.

Coin Software will become a wholly owned subsidiary of Macquarie Adviser Services while retaining its operational independence.

The three Coin principals, Ian Litster, Suwandi Tan and Darren Pettiona, will continue to drive the business for the next three years by developing and improving the Coin product, with Macquarie providing support and investment to ensure high levels of service to both its existing and new institutional and boutique clients .

The Head of Macquarie Adviser Services, Neil Roderick, said he was excited about the acquisition of Coin, which marked the next major step for Macquarie's expansion of services to the financial planning industry.

Mr Roderick said Coin Software is an innovative financial planning software solution which streamlines the planning process and improves the client service proposition for advisers and dealers.

"This acquisition will ensure that Coin's dynamic approach to software innovation is supported and developed," Mr Roderick said.

"Coin software integrates the entire financial planning process across all of the functional areas of a financial planning organisation. As a web-enabled tool advisers can automate the entire spectrum of their financial planning administration functions," Mr Roderick said.

"Macquarie Adviser Services has spent a great deal of time researching the needs of advisers with the aim of providing them with holistic planning solutions. We believe that Coin is the best financial planning software available and it provides a smart and simple solution to the business and planning needs of many financial advisers.

"Advisers will have an integrated financial planning tool, which is run from their desk tops, that gives them access to the major platforms in the industry including Macquarie Wrap, BT Wrap and Colonial FirstState and interacts with other financial planning software that they currently run.

The three principals of Coin Software, Ian Litster, who was one of the original founders of the financial planning software, Visiplan, Darren Pettiona and Suwandi Tan, one of the key original developers, say the Coin Software is scaleable so it easily adapts to the size of the financial planning firm.

"We have designed this software so that it can deal easily with large volumes of clients as well as smaller planning businesses," Coin Founder Ian Litster said.

"This means adviser firms can start small and Coin Software will accommodate their changing needs as their firm grows."

"We are excited about this partnership with Macquarie because it gives us the support and financial backing of a large organisation that understands our business while allowing us to service other segments of the market, including boutiques.

"This relationship will allow us to provide a high level of support to our institutional clients while we grow our business throughout the rest of the financial planning community."

Mr Roderick said the acquisition would provide a strategic direction to Coin's current business that would give them the resources to service new clients as well as the support to continue to deliver services to their existing clients.

For further information, please telephone:

Irene O'Brien
Head of PR & Communication
Macquarie Financial Services Group
Macquarie Funds Management Group
Tel: (612) 8232 3241
Mobile: (61) 417 260 309

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