(FISV - Free Report
) recently announced that it has acquired AdviceAmerica. Based in California, AdviceAmerica provides integrated advisory solutions to financial institutions and independent advisors.
Founded in 1999, AdviceAmerica also has a research and development center in Bangalore, India. AdviceAmerica will become a strategic part of the Investment Services unit of Fiserv.
Fiserv assists financial institutions and health plan administrators in managing their information systems so that they can efficiently deliver services to their customers. The company is one of the leading providers of e-commerce solutions to financial institutions. Financial terms of the deal were not disclosed.
The Investment Services unit provides a range of technology platforms and software solutions to over 325 firms assisting them with portfolio management, enhanced trading solutions, performance measurement, reporting services, corporate actions, billing, and trading automation to its clients. The company provides its solutions to broker dealers, global asset managers, investment advisors, banks and insurance companies. The primary product for the company is a real-time portfolio management and trading system which is used by almost three million accounts.
The acquisition will strengthen Investment Services’ position in the wealth management industry.
AdviceAmerica will expand Fiserv’s capabilities in front-office applications, such as financial planning, CRM and proposal tools which support the growing needs of financial advisors and bank trust departments.
The addition of AdviceAmerica’s front-office tools make Investment Services of Fiserv a market leader in the growing sponsor, bank wealth management, registered investment advisor and insurance company channels.