Wealth management firm Courtiers has launched a digital wealth proposition, using the services of fintech firm InvestCloud.
Since the service was released in early August, around a third of the firm’s client base has been transitioned to it. The firm intends all of its advisers and clients will use the online service in the future.
The new platform features a client portal for client communication and reporting, which will enable the firm to go paperless. It also uses the InvestCloud Digital Warehouse to aggregate data from multiple systems, including market and portfolio data, social media and external documents, in one place.
Global fintech firm InvestCloud, which was founded in 2010, acquired UK firm Rplan in 2016 for £15m to boost its capabilities for asset managers.
Chief executive of Courtiers Jamie Shepperd said: “To continue to be relevant and build relationships with all generations of investors, we must embrace the digital revolution.
“Working with InvestCloud, our new platform can ensure Courtiers remains front and centre for all financial advice needs amid the changing trends, habits and behaviours of the world we live in.”
John Wise, co-founder of InvestCloud, said the move indicated Courtiers’ willingness to adapt to the “next generation of investors”.
“Courtiers is a great fit for InvestCloud. Its recent acquisitions show this is an ambitious wealth management business, and its keenness on adopting greater digital capabilities shows that it is actively preparing for the future.
“By working closely with the Courtiers team, we are ensuring that they are ready to cater to the next generation of investors.”
“With a $30trn generational wealth transfer up for grabs, the digital revolution has arrived in the investment sector. We have already seen the evidence with major banks creating whole new digital advice services.
“Those who respond effectively to clients’ needs – by providing an intuitive, involving and individualised digital services that are available any time, any place and from any device – are those that will win.”