Advisor360° is kicking off 2023 by welcoming new tech tools and new teammates.
The Weston, Massachusetts-based wealth management technology firm has acquired the digital technology and related wealth management assets of client onboarding automation software developer Agreement Express.
The deal, a milestone first acquisition for Advisor360°, includes the transfer of technology, intellectual property, clients and professionals from Agreement Express’s wealth management business. The team that supports Agreement Express’s existing wealth management business and clients will continue in their current roles at Advisor360°.
“Advisor360° gives wealth managers technology solutions that transform the way they connect with clients, which is why this transaction was a perfect fit,” said Advisor360° CEO Rich Napolitano, who added that 2022 was a year of strong organic growth for the company, and that this first acquisition is a sign that it’s not slowing down.
“The Agreement Express transaction meaningfully accelerates our ability to offer expanded choice and connectivity on our platform, and we’ll continue to raise the bar in 2023 and beyond,” Napolitano said in a statement. “We’re excited to welcome our new Agreement Express colleagues and clients to Advisor360°. As we look ahead to 2023, it’s business as usual — which means more innovation for our clients’ benefit.”
Once the technology is integrated, Advisor360° will be able to support investment and insurance accounts at every major custodian and clearing firm and offer a wider range of integrations with industry-leading CRM providers.
Advisor360° officials also expect the existing platform will be enhanced by the new assets in other areas, including expanded automation and streamlining of paper and electronic workflows; simplified information gathering, organization and bundling; new digital signing features; and bulk advisor onboarding for team hires or new office acquisitions.
The deal also expands Advisor360°’s growing global footprint and talent pool by bringing on staff from the Agreement Express workforce in Canada. Last year, the company opened its first non-U.S. location in Bengaluru, India.
“We’re thrilled that this business is now a part of one of the wealth management industry’s largest providers of integrated technology solutions,” Agreement Express CEO Dave O’Brien said in a statement. “Like Advisor360°, we appreciate that the best technology offers flexibility and choice, streamlining processes to help firms grow.”
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