It has been a very exciting few weeks at Coin as we have completed our investment into Outplan. This deal and the recent investment in Olicc represent a further expansion of the MAS administration solutions available to advisers while at the same time diversifying Coin's revenue stream. Each is a good fit for MAS because they differentiate themselves on exemplary customer service with a focus on quality and they use superior technology solutions to help do this. The latest deal has seen Coin take 50% equity stake in Outplan.
Outplan provide outsourced paraplanning services to the adviser market. They are a start up business that has quickly differentiated itself in the delivery of premium paraplanning services with a focus on plan production as a marketing document as well as a compliance document and utilise the Coin Office suite to do this. Outplan commenced business servicing a boutique client base and they have quickly grown from this base and are already piloting the service with two major financial services institutions. As there is a nationwide shortage of planners and paraplanners we anticipate increasing demand for the services provided by Outplan.
