Coin Software Limited this week celebrated the first anniversary of its acquisition by Macquarie Adviser Services by announcing it was continuing to rapidly grow market share in the financial planning software market and was planning further services and enhancements to benefit its clients.
Coin Software was acquired by Macquarie Adviser Services in June last year and has continued to grow significantly during the past 12 months.
Coin Software Managing Director Tony Graham said Macquarie Adviser Services had provided strong support for Coin which had experienced outstanding growth.
He said Coin was very excited by the results it has achieved.
"The most pleasing area of growth had been at the boutique end of the market. The take up of Coin by boutique advisers is increasing appreciably and this is due to Coin's recognition of the needs of advisers and our commitment to find the solutions and support structures that will address the issues that affect their businesses."
He said the institutional take up of Coin had also been very strong and looked like it would continue.
Mr Graham said that to support the increase in clients during the past 12 months Coin staff numbers had doubled with the majority of growth being in the client service teams.
"To focus on the unique needs of our clients, both institutional and boutique practices, we have needed to ensure we have separate teams focused on providing an appropriate level of service and support for each type of client " he said.
"We now have the mix of staff needed to meet the needs of our current clients, with the ability to grow as our client base grows.
"We are confident that we have the right staff in place. Most of the service and support staff who work at Coin have a Diploma of Financial Planning (or are working towards it) and have worked in adviser practices. This means our service and support staff understand financial planning and understand the issues and needs of our clients.
"We plan to enhance our service to clients further by having staff permanently on the ground in Brisbane, Perth and Adelaide as well as Sydney and Melbourne within the next few months."
Mr Graham said that during the past 12 months Coin had rolled out three new releases of it's software, placing it in a good position to achieve it's aim of building a single seamless integrated package for risk, investments and planning.
The major step completed recently was the delivery of Coin's market leading integrated risk module, INC, which is currently being rolled out in Version 2.5.
"INC is a clear demonstration of the speed with which we can deliver new functionality," Mr Graham said.
"It is a clear demonstration of what can be achieved by listening to clients and acting on their feedback and of Coin's ongoing commitment to allocating significant research and development funds to enhancing our product offering and delivering efficient solutions for advisers."
"This drive for efficient outcomes for advisers and the industry was the reason behind Coin's collaboration with IWL on the External Platform Interface standard.
Mr Graham said that with the support of Macquarie Adviser Services Coin expected growth to continue during the next 12 months and Coin remained committed to providing the best planning software solution in the market.
