InvestCloud acquires cash flow firm Advicent to bridge advisor-client gap
InvestCloud has announced a strategic acquisition of Advicent, a cash flow, trust and tax financial planning provider.
InvestCloud says it wants to bridge the advisor-client gap
Advicent, part of the Vista Equity Partners portfolio, provides financial planning technology for 140,000 financial professionals across nearly 3,000 firms worldwide.
Through its NaviPlan platform, Advicent creates “scalable financial planning software” through “industry-leading APIs”.
It aims to help thousands of financial professionals and their clients “understand and impact their financial future”.
InvestCloud specialises in digital platforms for the development of financial solutions which it pre-integrates into the cloud. The firm claims to support over $4 trillion of assets for more than 500 direct clients.
It wants to create “the world’s leading financial planning solution”. It plans to do this by bridging the advisor-client communication gap.
“InvestCloud’s planning engine will be enhanced with the combination of Advicent,” says John Wise, CEO and co-founder at InvestCloud.
“Advicent is a highly differentiated planning engine covering the simple goal-based assessments that most of the known financial planning engines cover.
“Importantly, Advicent also has advanced retirement income scenarios and estate trust planning focusing on the very difficult planning aspects of tax and cash flow.”
Angela Pecoraro, CEO of Advicent, adds: “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 and increase flexibility.”
InvestCloud clients include James Hambro & Partners (JH&P), Siebert Financial Corp, and Mitsubishi UFJ Financial Group (MUFG).
Related: Canadian fintech Wealthsimple raises record $610m at $4bn valuation
