Wealthtech GBST strengthens cloud portfolio with Advice Intelligence acquisition
Wealthtech firm GBST has acquired Australian cloud-based financial management software company Advice Intelligence to deliver both digital and hybrid advice to the wealth market.
GBST acquires Advice Intelligence
Advice Intelligence offers a digital platform featuring an independent customer relationship management (CRM) solution, client engagement functionality, goals-based advice and apps built to enhance the financial adviser and client experience in real time.
The deal will strengthen GBST’s existing portfolio of cloud-based Software-as-a-Service (SaaS) wealth management solutions, with the company describing the Advice Intelligence acquisition as “highly complementary” to WealthConnect, the Salesforce-based CRM solution it acquired in May.
The company says it recognises the industry’s evolution toward “advice via digitisation” and intends for its newly-acquired solution to bridge the gap between advice providers and the wider mass market.
GBST expects there to be a “strong global demand” for its cloud-based solutions and “digitally driven optimised advice for retail investors and their advisers”.
Robert DeDominicis, global CEO of GBST, says the acquisition “positions GBST perfectly to capture a significant share of the growing advice practice management, digital and hybrid advice markets through the delivery of its 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 Australia, the UK and internationally,” DeDominicis adds.
The acquisition will also see Jacqui Henderson, founder of Advice Intelligence, and her wider team join GBST.
