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Media Release: Adviser Ratings Group Acquires Super & Investment Platform Comparison Tool, ProductRex

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1 June 2023 by Adviser Ratings

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Australia’s leading wealth data and sentiment business, ARdata, has today announced it has completed the acquisition of ProductRex, the hugely popular investment, platform, and superannuation recommendation modelling tool for financial advisers.

The transaction sees ARdata take full ownership of the business, with ProductRex founder Nick Topham remaining with the business as ProductRex CEO.

“ProductRex is the number one fastest growing advice tool in the past 10 years in terms of user growth, growing to 2,500 advisers in 18 months,” ARdata founder and CEO, Angus Woods, said.

“It has also been rated the best advice tool in the Adviser Ratings software survey for the past two years. Bringing ProductRex into the ARdata business makes perfect sense for both companies, as we align our culture and mindset with a ruthless focus on adviser and consumer outcomes and delivering better, more actionable data, for the industry.”

The acquisition deepens ARdata’s proposition as a key data provider to the wealth industry as it grapples with the shift by advisers and their clients into defensive assets, such as cash and term deposits, and the exponential rise in managed accounts.

“Becoming a part of ARdata and the broader Adviser Ratings group is a great thing for ProductRex and its users, as it provides both additional technology capability and development resources, and the freedom for me to focus on the continual improvements to the ProductRex platform,” Topham said. “I have been extremely proud of the growth in our customer base, and I am committed to the continued evolution and improvement of the service. Importantly, ProductRex will remain free for advisers to use.”

ARdata continues to invest in building the most comprehensive wealth management data business in the country, and the addition of ProductRex to the business follows the acquisition of the Beddoes Institute in October 2022.

“As the financial advice industry and the wealth management sector find their feet after several years of monumental change, it is vital for those industries to have access to the richest intelligence available to make decisions in the best interests of their clients,” Woods said. “ARdata and Adviser Ratings are committed to providing that insight to the industry.”

“We will continue to build our capabilities and compelling value proposition to ensure we help all our customers manage their clients’ interests more effectively through a comprehensive suite of data and insights.”

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