US-Based Fintech Continues Global Wealth Management Drive

US-based fintech firm InvestCloud has partnered with Asian robo-advisory platform provider WeInvest, adding to a number of recent deals by the tech firm in the wealth management space.

InvestCloud has been busy expanding its operations. As recently reported by WealthBriefing, sister publication to this news service, InvestCloud was hired by MASECO Private Wealth, a UK-based firm focusing on advising wealthy expat US citizens, to deliver customer reporting and communication capabilities.

The latest partnership will see the InvestCloud Emerald platform, as it is called, combine with WeInvest to support multi-asset based, multi-currency, goal-based and thematic investing, InvestCloud said in a statement earlier this week.

WeInvest, alongside its own direct-to-consumer robo-advisory portal, offers its solution to Asian banks, wealth managers and asset managers. Financial institutions will now be able to “offer this solution to their own clients with minimal time to market using WeInvest’s scalable, ready-to-deploy platform-as-a-service (PaaS), powered by InvestCloud”, InvestCloud said.

InvestCloud Emerald will be able to deliver portfolio valuations in real-time and on demand to large volumes of consumers.

“This partnership highlights the capabilities of the InvestCloud digital platform and especially the flexibility of our Robo stack solution, said John Wise, founder and chief executive of InvestCloud. “Whether a wealth manager wants to offer their own robo business or provide a hosted service to other wealth managers, InvestCloud can support them.”

“The WeInvest PaaS solution gives Asian wealth managers a rapid path to rolling out their own branded Robo-Advisory services,” said Bhaskar Prabhakara, CEO at WeInvest. “Uniquely, we can also support the full range of investment methodologies to allow each Robo-Advisor to reflect consumer preferences, as well as the strengths and ethos of the wealth manager.”

InvestCloud supports $1.7 trillion of assets (not including its client JP Morgan) for more than 670 clients. Founded by serial entrepreneur John Wise in 2010, the company has offices across the US and Europe.

Source: wealthbriefingasia

Nick Kalikajaros 2017