Tue, Dec 24 2024
Tiara Fintech Solutions Limited (TFSL) was purchased by SecuritEase Group, a New Zealand-based company, for an undisclosed amount in order to support its ongoing UK expansion.
SecuritEase Holdings UK Limited (SHUKL), the group's UK subsidiary that was created this year, made the transaction, which was formally finalized on December 6.
Tiara, a capital gains tax (CGT) computation engine, income tax data management, and investor taxes reporting system that serves the wealth management and platform industries in the UK, is TFSL's most well-known product.
Karrie Tilburn and Abi Ostler, who founded the North Yorkshire-based KA Watson Consultancy (KAWC), initially developed the system in 2021.
By "continuing to provide excess reportable income data and the resulting impact on investor gains and income; ensuring accurate reporting," SHUKL says in a statement that it intends to use Tiara as a Software-as-a-Service (SaaS) platform for CGT and income tax reporting.
In order to "enhance the SecuritEase suite of products and to strengthen its UK wealth management capabilities," the system will be integrated.
The acquisition would allow SHUKL to offer "comprehensive investment analysis, optimisation, modelling, and automation, in addition to the tax administration and reporting capabilities," according to James Martin-Redman, the company's chief commercial officer.
With its headquarters located in Wellington, SecuritEase provides brokers in New Zealand, Australia, South Africa, and the UK with wealth management, accounting, and settlement solutions.
In order to strengthen its portfolio management services for private asset managers in the UK, the firm, which was separated from Scientific Software and Systems Limited last year, previously purchased Iress FS Limited's Pulse and Symphony software division in May.
Leave a Comment