Montreal-based Equisoft, a global provider of digital business services for the insurance and wealth industries, on Wednesday announced its recent acquisition of Toronto-based Apeiron Software Ltd. and Montreal-based Planist Ltd.
Equisoft hopes to leverage the digital offerings from Apeiron Software and Planist to build a more competitive portfolio of wealth management services, the firm says in a news release.
Equisoft "officialised" the acquisition of Apeiron Software, a developer known for its advisor- and investor-facing retirement software platform called RetireWare, toward the end of 2017.
Apeiron brings to Equisoft over 20 years of experience designing and developing web-based risk management, financial planning and retirement planning software for financial institutions, advisors and their clients. It's financial planning and group retirement tools can be integrated in company portals to help investors set goals and monitor progress.
"Today, financial institutions need to differentiate on customer experience," says Jonathan Georges, vice president of wealth management solutions at Equisoft, in a statement. "Investor-facing technology platforms provide them with a great opportunity to deepen the level of engagement they have with their clients, while helping advisors offer value-added services."
Equisoft's acquisition of Planist occurred in early January and is intended to add further depth to the firm's financial planning solutions. According to Equisoft's news release, Planist is recognized in the Quebec marketplace for its financial planning web portal.
Planist's portal is a strategic analysis tool designed to assess the overall financial health of a client in order to create a retirement planning strategy or guarantee the suitability of specific investment products.
"This acquisition will allow Equisoft to enhance its flagship product, Wealth Elements, by leveraging some of Planist's advanced financial planning functionalities, such as retirement income replacement analysis, estate planning, simulation of flows in a holding company and detailed life insurance needs analysis to name a few," says Georges.
"This acquisition will also benefit Planist's client base by bringing sustainability and a strong commitment from a well-established company to continue to support the loyal Planist's user base," he adds.
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