Docupace, which provides cloud-based fintech digital operations software for wealth managers, has acquired jaccomo to expand its back-office platform.

jaccomo is a compliance, data integration, financial reporting, and advisor compensation accounting system.

Its offers operational functions that enable advisors and back-office personnel to better manage every aspects of compliance, business operations and financial reporting.

Its cloud-based tools include real-time surveillance and compliance solutions, advisor commissions and compensation accounting, full-service data integration, and process automation among other things.

According to Docupace, integrating jaccomo’s data-centric capabilities with its platform will build a centralised source for execution excellence within the wealth management industry.

Docupace CEO David Knoch said: “The jaccomo team and technology is a trusted partner to dozens of enterprise wealth management firms from RIAs, to banks, to broker-dealers and more.

“The financial services clients both our firms are honoured to serve, both now and in the future, deserve technology that simplifies and automates all of their back office, not just a part of it, which is a vision that shines brightly at Docupace.”

Financial terms of the deal were not disclosed.

jaccomo founder and CEO Bob McGill said: “We are honoured to join a long-term leader in wealth management technology.

“Integrating jaccomo’s compliance, data, and compensation systems into the Docupace Platform will significantly expand the scale and impact our technology can have on financial advisors, their clients and their businesses.”

Last April, growth equity investment firm Palisades Growth Capital sold its ownership stake in Docupace to FTV Capital.

In 2014, RCS Capital Corporation agreed to buy a majority interest in the firm.