Advisor360° has purchased Agreement Express’s digital onboarding technology and related wealth management assets.
The wealth technology company acquired the assets from private equity firm Frontier Growth, which is based in Charlotte, North Carolina.
Under the deal, Agreement Express will transfer technology, intellectual property, clients, and professionals from its wealth management business to Advisor360°.
The deal is Advisor360°’s first acquisition and was concluded on 23 December 2022.
Advisor360°noted that after the technology is integrated, it will be able to “seamlessly support investment and insurance accounts at every major custodian and clearing firm.”
Advisor360° chief executive Rich Napolitano said: “Advisor360° gives wealth managers technology solutions that transform the way they connect with clients, which is why this transaction was a perfect fit.
“2022 was a year of strong organic growth for Advisor360°. With our first acquisition completed, we’re not slowing down: the Agreement Express transaction meaningfully accelerates our ability to offer expanded choice and connectivity on our platform and we’ll continue to raise the bar in 2023 and beyond.”
Prior to this deal, Agreement Express’s payment solutions business was divested to commerce enablement tech firm NMI last month.
Agreement Express CEO Dave O’Brien said: “We’re thrilled that this business is now a part of one of the wealth management industry’s largest providers of integrated technology solutions.
“Like Advisor360°, we appreciate that the best technology offers flexibility and choice, streamlining processes to help firms grow.”
Last year, Advisor360° launched its first non-US location with new offices in Bengaluru, India.