InvestCloud acquires rplan 11 June 2018Los Angeles Reporter: Jenna Lomax
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InvestCloud, a global financial technology firm, has acquired London-based rplan Limited.
The acquisition, settled at $20 million, will see rplan’s capabilities made available to InvestCloud’s global client base.
InvestCloud’s acquisition will extend its direct-to-consumer (D2C) offering for institutional asset managers.
According to InvestCloud, this acquisition enhances InvestCloud’s digital client engagement capabilities.
The digital platform combines financial apps and application programming interfaces. rplan is the latest firm to be added since the launch of Freetrade in the UK.
John Wise, chairman and CEO of InvestCloud, said: “Institutional asset management is an important and growing segment for InvestCloud. The writing is on the wall: asset managers are trending toward multi-channel financial distribution that includes D2C solutions.”
He added: “Embracing D2C is a smart play for asset managers given the success of companies like Vanguard. InvestCloud D2C and other digital product channels will be combined with rplan product strengths. They truly complement the InvestCloud Digital Platform and will bolster our successes in this space.”
Andy Creak, director of rplan, commented: “We are very excited to be part of the InvestCloud platform. InvestCloud has been extremely successful in the Americas, supplying the largest financial institutions in the US and Canada.”
He added: “rplan has the most advanced D2C solution in the UK. We look forward to combining the InvestCloud platform and financial resources with our own solution and know-how to dominate the D2C market globally.”
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