Tech provider unveils big broker plans

The financial services software provider has made a multi-million dollar software acquisition which it is looking to roll out to mortgage brokers at the end of the financial year



Rubik Financial has made a multi-million dollar software acquisition which it wants to roll out to mortgage brokers at the end of the financial year.

Rubik bought 100% of the share capital of AMEE Easy Software Solutions and AMEE IP Holdings – the owner of revenue management program Easy Dealer Software – for $2.7 million before adjustments, it was announced on the ASX yesterday.

While Easy Dealer is currently used by financial planners, stockbrokers and life insurance advisers, the product is “malleable” and Rubik is looking to adapt it for mortgage brokers, Rubik wealth managing director Wayne Wilson told Australian Broker.

“We’re looking to branch out to mortgage brokers as a strategic mid-term consideration, and we’d be looking at rolling it out for mortgage brokers towards the end of the financial year,” he said.

Rubik began its expansion for mortgage brokers through the launch of a partially-integrated product with Stargate Technologies a month ago.

This interface integrates Rubik’s wealth planning software COIN with Stargate’s loan management tool, SymmetryCRM, used by over 2,500 Australian mortgage brokers.

The product allows financial planners using COIN and mortgage brokers using Symmetry to push client information to each other’s respective platform.

Adding more products – such as an Easy Dealer option for brokers – is a logical progression towards allowing planners and brokers to work together, Wilson said.

“One of the things we’re working towards is to service the continual desire of mortgage brokers to access the financial planning space and for financial planners to access the mortgage broking space. We’re working on providing solutions that cross-integrate to make it more attractive to those who want to play in both areas.”

Wilson would not disclose any predicted profit boost Rubik stands to make from the acquisition, but said an Easy Dealer option for brokers would place an alternative product in the market-place.

The software provides automated management of revenue, including commissions and client fees, as well as relevant business information reporting.

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