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Refinitiv acquires Advisor Software Inc

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Refinitiv has acquired strategic assets from Advisor Software Inc (ASI), adding key digital functionalities to Refinitiv’s Wealth Management offering including enhanced digital advice capabilities and digital portfolio analysis. ASI’s technology is interoperable and cloud enabled and will be integrated into the recently launched Refinitiv Digital Investor.

 
The acquisition of ASI’s assets represents Refinitiv’s continued commitment to building out its digital wealth management solutions. The ongoing transformation within the wealth management industry is the result of customers seeking compelling and curated digital experiences. This shift has impacted the way in which customers communicate with advisors and in turn created a market for digital advice models where clients communicate via digitalised and automated channels.
 
ASI’s assets provide Refinitiv with a complete digital advice platform that enables tax-aware portfolio rebalancing, Monte Carlo-based progress-to-goal tracking, cash flow and portfolio analysis, investment modelling, and proposal generation. ASI also offers a series of lean, portable APIs that are customisable and fully-brandable to enable a wealth management firm to construct its own digital advice experience. With these tools financial institutions, wealth managers and advisers can deliver advice in a more flexible, efficient and scalable way.
 
Joe Mrak, Global Head of Wealth Management at Refinitiv, says: “In what continues to be an eventful year for Refinitiv’s Wealth Management group, I am pleased to share the news of our acquisition of ASI. The digital capabilities that ASI brings to our existing Refinitiv Digital Investor platform perfectly complement our growing suite of widgets and APIs. We remain focused on delivering enhanced digital offerings to the Wealth Management industry and our clients as the digitalisation and personalisation of Wealth Management continues.”
 
Ashley Longabaugh, Wealth Management Senior Analyst at Celent, says: “A superior client experience is a true differentiator for wealth management firms and platforms in today’s highly commoditised and digital world. Today, the client experience is about creating a proactive and engaging relationship between the client and advisor. Refinitiv’s acquisition of ASI demonstrates Refinitiv’s focus on strengthening the client-adviser experience by addressing the needs of the digitally-inclined client and advisor.”

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