The latest news on digital product and service offerings in wealth management.

InvestCloud
InvestCloud, the Los Angeles-headquartered fintech, has bought UK firm rplan for $0 million, which provides technology so that clients can check their financial affairs over different digital channels.

The UK firm is described as a “provider of client engagement technology to support bespoke investment propositions for web and mobile”. Clients include four of the top eight institutional asset managers in the world.

"The success of rplan's solution is indicative of a changing institutional asset management industry. In the UK, D2C [direct-to-consumer] has been popular for several years, and hence more common as a channel. In the US, fund managers have been traditionally concerned about channel conflict. But the success of Vanguard with significant inflows is changing the landscape and the approach of other US fund managers,” John Wise, chairman and chief executive 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 said. 

InvestCloud’s platform supports more than 1.7 trillion of assets for clients ranging from family offices, banks, institutional asset managers and service companies.