Technology
Digital Digest: The Latest Tech News - InvestCloud

The latest news on digital product and service offerings in wealth management.
InvestCloud
InvestCloud, the
Los Angeles-headquartered fintech, has bought UK firm rplan for $0 million, which
provides technology so that clients can check their financial
affairs over different digital channels.
The UK firm is described as a “provider of client engagement
technology to support bespoke investment propositions for web and
mobile”. Clients include four of the top eight institutional
asset managers in the world.
"The success of rplan's solution is indicative of a changing
institutional asset management industry. In the UK, D2C
[direct-to-consumer] 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,” John Wise,
chairman and chief executive of InvestCloud, said.
"Institutional asset management is an important and growing
segment for InvestCloud. The writing is on the wall: asset
managers are trending toward multi-channel financial distribution
that includes D2C solutions,” he said.
InvestCloud’s platform supports more than 1.7 trillion of assets
for clients ranging from family offices, banks, institutional
asset managers and service companies.