Rubik Financial has entered into a non-binding term sheet for an exclusive licence arrangement with revenue management software provider Revex.
The term sheet, which is preliminary to an agreement, contains the option for COIN (which is owned by Rubik) to acquire Revex – along with a four-year exclusive reseller agreement.
Both parties have agreed to negotiate for a period of 180 days to agree to a binding agreement.
Revex is revenue management software for Australian Financial Services Licensees and financial planning practices.
Rubik managing director for wealth, Wayne Wilson, said the Revex software “solves the dilemma facing planners in the industry – and offers efficient commission and revenue management that meet the requirements of the FOFA reforms”.
“The reality is that revenue and commission information needs to be collated from each of the many different investment products that clients hold,” said Mr Wilson.
Revex includes commission and fee processing; fee invoice management – including recurring invoices; and payment of all entitlements to advisers, including referrals.
Mr Wilson the he expected the fully integrated version of Revex to be available to all COIN clients by November 2013.
Comments powered by CComment
The super fund says it is in favour of a superannuation advice network involving non-relevant providers with a minimum ...
Minister Jones has more pressing priorities to address before turning his attention to the ASIC levy, he confirmed at an ...
AMP is planning to launch its digital advice tool next year.
Speaking at the ASFA Conference in Adelaide, Matt ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin