Advice group acquires software business

The buyer of Chant West’s financial planning software business Enzumo has been revealed, with an ASX-listed dealer group set to fork out $1.5 million for the business.

Centrepoint Alliance will acquire Enzumo from Chant West, in a move that chief executive Angus Benbow said would enhance Centrepoint Alliance’s technology offering to the advice sector.

“Technology has been driving greater efficiencies for advisers over recent years,” Benbow said.

“COVID-19 has completely reframed the role of technology in advice delivery and will accelerate a far broader utilisation of technology across the sector.”

Enzumo provides financial planning software consulting, customization, workflow and e-learning management solutions to the advice industry.

Its clients include Australian banks, mid-tier wealth institutions, financial advisories and dealer groups.

Benbow said the COVID-19 crisis had opened advisers’ eyes up to the benefits of technology.

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Source: Advice group acquires software business | Financial Standard