InvestCloud has extended its Direct-To-Consumer (D2C) offering for institutional asset managers by buying rplan in a $20m deal.
rplan enables asset managers to digitise their existing retail clients, providing of client engagement technology to support bespoke investment propositions for web and mobile. According to InvestCloud, rplan’s client base includes some of the largest institutional asset managers in the world, including four of the top eight in the UK.
Through the deal rplan’s capabilities will be made available to InvestCloud’s global client base of more than 700 firms, including some of the largest financial institutions in North America.
John Wise, chairman and CEO of InvestCloud, said: “In the UK, D2C has been popular for several years, and hence more common as a channel. In the US, fund managers have been traditionally concerned about channel conflict. But the success of Vanguard with significant inflows is changing the landscape and the approach of other US fund managers.
InvestCloud says rplan’s technology is like its own, API-based and cloud-native, and “addresses the requirements of a heavily regulated and international marketplace”. The rplan solution is also modular, ‘enabling it to be integrated with any platform’.
Andy Creak, director at rplan, added: “We are very excited to be part of the InvestCloud platform. InvestCloud has been extremely successful in the Americas, supplying the largest financial institutions in the US and Canada. rplan has the most advanced D2C solution in the UK. We look forward to combining the InvestCloud platform and financial resources with our own solution and know-how to dominate the D2C market globally.”
Headquartered in Los Angeles, InvestCloud is known PWP (Programs Writing Programs) technology, which enables small teams to create digital solutions on the InvestCloud Digital Platform at a fraction of the traditional time and costs required to get to market. The technology means the generation of endless user experiences and workflows, allowing all InvestCloud users to have unique solutions that differentiate them in a digital landscape.
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