Wealthtech company GBST has taken the next step in its growth strategy with the acquisition of cloud-based financial planning software solution Advice Intelligence.
The business complements GBST’s recently acquired Salesforce adviser solution GBST WealthConnect.
It will further accelerate the group’s ability to offer both digital and hybrid advice to the global wealth market.
Advice Intelligence brings an independent CRM solution, client engagement, goals-based advice, mobile, workflows and apps together in a single digital platform.
GBST said it expects “strong global demand” for its complete suite of cloud-based solutions including its capability to deliver digitally driven optimised advice for retail investors and their advisers.
The purchase of Advice Intelligence is the latest step in GBST’s plan to expand its suite of adviser technology with a scalable and CRM-agnostic solution.
In March, GBST rebranded to bring it in line with the organisation’s “new strategic direction”.
It launched an enhanced version of its SaaS wealth management administration platform – Composer.
Spearheaded by this transformation and recent organisational change, the rebrand reflects the company’s “ongoing commitment to inspiring wealth innovation”.
Commenting on the latest deal, GBST global chief executive Robert DeDominicis said: “The acquisition accelerates the delivery of our roadmap and positions GBST perfectly to capture a significant share of the growing advice practice management, digital and hybrid advice markets through the delivery of its market-leading cloud-based portfolio of solutions.
“With the combined offerings of GBST, GBST WealthConnect and GBST Advice Intelligence to streamline advice and enhance client experience, GBST is well-equipped to expand its presence in the UK, Australia, and internationally.”
Advice Intelligence founder Jacqui Henderson, who will join GBST following the acquisition, added: “We’re thrilled to join a company as innovative and forward-thinking as GBST, with four decades of industry experience, an enviable client list, global footprint, and a collaborative and supportive culture.
“This acquisition provides GBST with an opportunity to progress and expand the growth of its digital advice solutions and I am certain we will achieve great things together.”
GBST chair and Anchorage Capital Partners managing partner Beau Dixon said: “The acquisition of Advice Intelligence further accelerates GBST’s digital focussed growth agenda and delivers enhanced capabilities with global application to our existing and future clients. We are delighted to welcome Jacqui Henderson and her team.”
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