Midwinter strikes deal with Merit Wealth


By Kristen Crawford

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Midwinter has struck a software agreement with Merit Wealth Financial Services and flagged that it anticipated a number of similar deals over the next quarter, the software provider said yesterday.

Midwinter managing director Julian Plummer told financialobserver that Merit Wealth, whose headquarters are in Sydney, had a team of 28 advisers and a national network of accounting practices.

“We have a few more software deals in the pipeline and we are definitely looking forward to announcing those in the next few months,” Plummer told the publication.

Merit Wealth had opted across the dealer group for Midwinter’s AdviceOS software to optimise the advice generation process and simplify reporting procedures.

Merit Wealth director Garth McNally said the group planned to roll out the software at the end of the month.

“Merit Wealth has [also] rapidly up-scaled its operations to meet the growing demand for its limited licensing offer to accounting firms,” he said.

“The adoption of AdviceOS is an essential part of our investment and commitment to the accounting profession and the transition to limited licensing.”

The group said by the end of 2015 it expected to have over 100 accountants holding limited authorised representative status, as well as its 28 advisers.

McNally said Merit had explored a number of different technologies but chose AdviceOS as it simplified the administration function of managing multiple dealers, referrers and clients.

“It’s all-in-one, cloud-based, and allows for an easy audit trail,” he said.

The deal followed the announcement Midwinter had last month partnered with State Super Financial Services, as the advice business underwent a $50 million digital transformation.

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