Cloud-based financial solutions developer InvestCloud has acquired Advicent, a provider of cash flow, trust and tax financial planning.
The acquisitions is aimed ay building the world’s leading financial planning solution. InvestCloud hopes this will be achieved by bridging the advisor-client communication gap by combining Advicent’s cash flow, trust and tax financial planning engines with its digital client and advisor platform and existing market leading goal-based financial planning engines.
InvestCloud claims advisors need connected experiences with clients to enable seamless integration from financial plans to proposals and through to implementation. This acquisition will provide advisors with a full-scope unified platform to do this, as well as offer client management and ongoing maintenance.
It claims it will offer a comprehensive digital experience across an advisor’s entire book of business, from mass affluent to high-net-worth individuals.
InvestCloud co-founder and CEO John Wise said, “InvestCloud’s planning engine will be enhanced with the combination of Advicent (NaviPlan).
“Advicent is a highly differentiated planning engine covering the simple goal-based assessments that most of the known financial planning engines cover; however, and importantly, Advicent also has advanced retirement income scenarios and estate/trust planning focusing on the very difficult planning aspects of tax and cash flow. This will be greatly leveraged by the market-leading InvestCloud planning solutions and platform used by advisors today.”
InvestCloud supports more than $4trn of assets for over 500 direct clients. Its services include on-demand client experiences and operations solutions to help build a variety of financial solutions.
Advicent provides financial planning technology for more than 140,000 financial professionals across 3,000 firms.
Its NaviPlan solution creates scalable financial planning software through a mixture of APIs.
Advicent CEO Angela Pecoraro said, “The opportunity we see together is massive and our team has thought this for years – how powerful a partnership would be with InvestCloud.
“As digital plays a more and more critical role in the advisor experience, InvestCloud’s platform will enable our clients to reduce complexities, increase flexibility, and be a game-changing power for client-to-advisor collaboration by applying behavioural science to improve client outcomes.”
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