Refinitiv has acquired the strategic assets of Advisor Software (ASI) to add key digital functionalities to its wealth management business.

ASI’s acquisition strengthens the digital assets of Refinitiv by adding digital portfolio analysis and advisory capabilities, noted the acquirer.

As part of the acquisition, ASI’s interoperable and cloud-enabled technology will be integrated into the recently launched Refinitiv Digital Investor solution.

Refinitiv said that the development of its digital wealth management offering will change the way clients communicate with advisers.

Through the acquisition of ASI’s assets, Refinitiv will gain access to a complete digital advice platform.

This platform is said to facilitate tax-aware portfolio rebalancing, Monte Carlo-based progress-to-goal tracking, cash flow and portfolio analysis, investment modelling, and proposal generation.

Besides, ASI provides customisable and fully-brandable APIs, allowing wealth managers to build their own digital advice experience.

Refinitiv global head of wealth management Joe Mrak said: “The digital capabilities that ASI brings to our existing Refinitiv Digital Investor platform perfectly complement our growing suite of widgets and APIs.

“We remain focused on delivering enhanced digital offerings to the wealth management industry and our clients as the digitalisation and personalisation of wealth management continue.”

This March, Refinitiv acquired US wealth management tech provider Scivantage.