The companies extend their integrated wealth management platforms to help enterprise wealth management firms boost their productivity, manage costs and enhance their operations.
The mutual clients of both companies will be provided access to cloud-based technology solutions that supports different and varied user personas.
Advisor360’s wealth management software comprises an adviser portal, a client portal featuring digital engagement tools, and an enterprise workflow system with its Unified Data Fabric.
Charles River provides a fully managed accounts platform that consists of SMA/UMA capabilities.
This platform, which facilitates outsourced middle-office services through State Street, also includes a manager-sponsor communication platform as well as features for compliance and trading, and portfolio customisation.
Advisor360° CEO Rich Napolitano said: “This combination of best-of-breed technology offers a compelling alternative to other platforms and gives control back to wealth management firms, which is why we are so excited to introduce Charles River’s managed accounts offering to our clients.
“As a pure SaaS company, we are committed to innovation and empowering wealth management firms to improve advisor productivity and satisfaction.”
State Street Alpha head John Plansky added: “Expanding our capabilities for financial advisors has been a significant part of our strategy and finding the right partner was critical. Advisor360°’s robust and flexible platform will enable Charles River to achieve its long-term goals in this industry.”
Charles River, which specialises in solutions that automate front and middle office investment management capabilities, was acquired by State Street in 2018 in a cash deal valued at $2.6bn.