Seattle, USA-based provider of financial planning services to licensed financial advisors, PlanScout acquired SIPS Retirement Planning System. The company announced the acquisition on September 5, 2023. However, it did not disclose the amount of the transaction.
Purpose of acquisition by PlanScout
The latest acquisition is a part of PlanScout’s strategy to provide outsourced financial planning services to financial advisors.
PlanScout’s planning processes and client presentations are built on top of their now proprietary planning tool, SIPS RPS. PlanScout has plans to further launch an outsourced planning service for independent financial advisors. On the other hand, SIPS RPS will remain available as a do-it-yourself financial planning tool for advisors. It also continues to include options to take advantage of PlanScout’s outsourced plan development.
What the SIPS RPS official has to comment
James Gallagher, SIPS RPS founder and advisor to PlanScout, said, “Countless times, advisors have asked me to build plans for them using my own experience with optimization techniques, and now PlanScout makes the power of SIPS available to any advisor.”
More than hundreds of advisors use SIPS RPS to create tens of thousands of comprehensive financial plans. The company has been delivering its services for more than the past 13 years.
What the PlanScout official has to comment
Raygar Khailany, PlanScout CEO and Co-Founder said, ” I’ve spent my career building and transforming organizations that help financial advisors outsource parts of their practice so that they can spend more time with their clients. PlanScout creates high-quality plans accompanied by beautiful client presentations that make the planning process turnkey for advisors in a fraction of the time it takes to craft the plan themselves.”
In addition, John Murray, PlanScout Board-Chair and Co-Founder said, “We are already hard at work on the roadmap to expand the depth and breadth of features in the SIPS software and product performance. SIPS has long relationships with advisor offices preparing over 1,000 plans per year, and we will be working to help them be more efficient with greater integration to practice management tools and new features to help advisors find tax savings and clearly illustrate the impact of comprehensive budgeting and planning.”
About PlanScout
Raygar Khailany and John Murray launched PlanScout. PlanScout delivers financial planning services to licensed financial advisors. It caters via a self-service fintech financial planning tool, www.sipsplanning.com, as well as outsourced financial planning services. PlanScout seeks to help advisors grow more quickly by rapidly creating and delivering great client plans for advisors.
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