Bravura Solutions, a provider of software solutions for fund administration industries, is set to acquire Midwinter Financial Services to utilise its software, AdviceOS.
AdviceOS, a financial planning solution, powers back-office administration for financial advisers and drives online self-directed digital advice portals for superannuation funds in Australia.
According to Bravura, the software is an extension to the firm’s existing software solutions and client base, sitting alongside retirement savings, investments and life insurance.
The acquisition is expected to be completed in August this year while the founders and senior management of Midwinter are expected to remain a core part of the business.
Commenting on the acquisition, Tony Klim, CEO of Bravura Solutions, said: “The Midwinter team have built a strong, highly functional and well-regarded cloud-based SaaS application for the financial advice market.”
He added: “The acquisition has a strong fit with our mission to provide best-in-class software solutions that comprehensively satisfy our clients requirements and help them navigate complex regulatory environments. Midwinter’s modern technology offering complements and extends Bravura’s broad suite of products in both Australia and internationally.”
