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August 16, 2022

Practifi introduces new deal management app for wealth management sector

Practifi has introduced a new business development (BD app) application, called Deal Pipeline Management App, for the wealth management industry.

The new BD app is a one-stop solution, which is developed to allow the wealth management industry to manage various growth-related affairs by tracking pipeline activities.

It also includes solutions that offer complete life cycle management that tracks and manages mergers and acquisitions (M&A).

The Deal Pipeline Management App primarily aims to serve registered investment advisors (RIAs), investment banking divisions (IBDs) and channels that are involved in acquiring in the wealth management sector.

Users of the app can perform various tasks including deal searching, pipeline management as well as onboarding and combining new firms and advisors.

Practifi president and co-founder Adrian Johnstone said: “The frenetic pace of M&A activity in the wealth management industry makes it important for RIAs, broker-dealers and network firms to manage their pipeline capably.

“After carefully listening to our clients, we created a new business development app so key decision-makers and their teams no longer have to rely on inefficient tools, such as CRMs that are not industry-specific, to operate with excellence and scale.

“For firms seeking to increase the efficiency of the acquisition process, our BD app will provide the best return on their investment.”

Practifi noted that Deal Pipeline Management App offers an easy and repeatable transition process to the users. The app’s acquisition lifecycle confirms uniformity to the progress of the deals.

Several acquisition targets such as consideration, dispute, proper diligence, onboarding or acquired deals of a company or advisor go through a standardised and steady process.

Practifi sales VP Tom Westhoff said: “We’ve captured the best of Practifi’s core capabilities and brought them into the M&A space, making it effortless for fast-growing firms to qualify and quantify the deals in their pipelines while managing back-office activity with flawless precision.

“From the first step of a transaction to successful acquisition, firms seeking to be the buyer of choice in the M&A market understand that they need to be seen as capable of seamless full integration.

“Our new app places wealth management’s acquisition activity at the centre of everything and will reap dividends for firms on the hunt for the best solution available.”

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