Financial services technology provider Fiserv has announced the acquisition of AdviceAmerica to expand its advisor solutions capacity.

Under the agreement, AdviceAmerica will become part of the investment services unit of Fiserv. The addition of its front office tools extends Fiserv's reach in the growing sponsor, bank wealth management, registered investment advisor, and insurance company channels. Teh financial terms of the deal were not revealed.

"The acquisition advances the Investment Services strategy to be the platform of choice for the wealth management industry," said Mike Gianoni, the president for the financial institutions group at Fiserv, in a statement.

The acquisition is the result of a widespread call for comprehensive advice and transparency among advisory firms following the global crisis. The advisory industry is currently seeing a shift from large wirehouses to independent and regional firms, thus arguably placing Fiserv at an advantage.