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Invesco Buys Advisor-Focused Fintech Firm Jemstep

The transaction closed yesterday; terms were not disclosed.
The global investment manager Invesco is extending its reach to advisors with the acquisition of Jemstep, a Silicon Valley-headquartered provider of digital solutions.
Jemstep provides advisors with a platform that Invesco says makes it easy for investors to access professional advice online through advisor-selected asset allocations.
"An early and innovative entrant into digital advice, Jemstep was one of the first digital platforms to focus exclusively on helping advisors deliver professional advice to their clients online," Invesco said. "While peer tools focus on market-cap-weighted indexing, this platform offers investors access to a variety of professionally selected investment options across mutual funds and ETFs."
The tech solutions provided by the Jemstep Advisor Pro platform can be integrated into existing systems and business models.