Global wealth tech provider GBST has acquired WealthConnect, a digital adviser practice management, customer relationship management (CRM) and compliance system, for an undisclosed sum.
Based on Salesforce and with back-office administration and a front-end digital solution, WealthConnect streamlines workflows and helps advisers manage client relationships, portfolios, and administrative tasks more efficiently.
The acquisition of WealthConnect provides GBST with a complementary solution to its existing SaaS wealth management offerings including Composer, an expanded client base, access to a growing adviser platform market, entry into new geographic regions, development resources, and a partnership with Salesforce.
Robert DeDominicis, global chief executive of GBST said: “We’re excited to welcome the WealthConnect team into the GBST family and connect our wealth management expertise and products with their adviser practice and CRM capabilities. This is the next logical step in our growth.
“As the importance of properly integrated fintech continues to grow, we have been assessing the adjacent wealth management CRM market for some time and WealthConnect stands out as being entirely complementary. Every day, thousands of advisers use GBST technology to execute investments, savings, and retirement decisions for their clients.
“The addition of WealthConnect broadens our suite of cloud-based technology offerings that will deliver innovation and efficiencies to advisory and wealth management businesses while driving better customer outcomes.”
