Private Client Resources (PCR), a provider of total wealth data aggregation services to ultra-high-net worth families and institutions, and d1g1t, a provider of an enterprise wealth management platform powered by institutional-grade analytics and risk management tools, have formed a new strategic partnership.Under the terms of the agreement, PCR’s digital consent technology, global feeds and alternative investment data capabilities will be integrated into d1g1t’s leading wealth management platform, creating a best-of-breed data aggregation and institutional-grade portfolio and client management solution for high-net and ultra-high-net-worth advisors and multi-family offices.
Thanks to the partnership, firms will be able to normalise client data from multiple sources, including custodians, broker-dealers, funds and off-book assets in the US, Canada and Europe. Along with d1g1t’s institutional-grade analytics and risk management tools – which are the most advanced on the market, capable of evaluating a broad range of holdings, encompassing everything from liquid assets to private equity – this means advisors can offer clients deeper insights and the most complete picture of their wealth.
Bob Miller, CEO of PCR, says: “We are very excited to partner with d1g1t. Thanks to Dan and his leadership team, the firm has a clear vision for how advanced analytics, delivered through each stage of the advisor-client experience, can drive better results for their customers. Through our unique capabilities, we look forward to helping them take the next step in their business. A common belief weds all good partnerships, and the one between PCR and d1g1t is no different – we both believe that whoever masters the data will win.”
Dr Dan Rosen, co-founder and CEO of d1g1t, says: “Our goal is to deliver to firms an unparalleled, end-to-end wealth management platform to run a modern advisory business, providing them all the client and portfolio information they need, at their fingertips, to elevate the client experience. PCR allows us to offer easy and smooth access to a continuous, reliable and accurate stream of investment data that allows advisors to focus on scaling the high-value, human services that set them apart in an increasingly automated and digital world. We are delighted to partner with them.”
As a result of this partnership, Toronto-based d1g1t can provide better support to US and European-based wealth management firms – especially multi-family offices that cater to high-net and ultra-high-net-worth investors – while PCR will further expand its Canadian presence.
The move follows a growing thirst among wealthy families and institutional investors for investing in private equity funds, hedge funds and other complex investments that create added portfolio diversity and extra yield in an era of low-interest rates.
But because many firms have trouble providing a complete picture of a client’s wealth – relying mostly on manual processes that are error-prone and subject to key-person risk while also offering limited analytics and insight into their investments and goals – many firms have struggled to keep up with this trend. The combined PCR/d1g1t technology solution solves that problem.
Dr Rosen says: “We share the PCR vision that no asset class should be left behind – and believe that this applies equally to analytics as well as data aggregation.”