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Fiserv Acquires AdviceAmerica, a Financial Planning Software Firm

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In a further sign that technology integration is a key to advisor success, financial services technology firm Fiserv, Inc., based in Denver, announced Monday, June 7, that it has acquired AdviceAmerica, a provider of integrated advisor software. According to the announcement, AdviceAmerica will become a part of the Investment Services unit of Fiserv, which deals in managed accounts. Financial terms were not disclosed.

AdviceAmerica, founded in 1999, is based in Fremont, Calif., with a research and development center in Bangalore, India. Founder and CEO, Purna Pareek, and all employees of AdviceAmerica are expected to join Fiserv as part of the transaction.

“The acquisition advances the Investment Services strategy to be the platform of choice for the wealth management industry,” said Mike Gianoni, president of Financial Institutions Group at Fiserv, in a statement. “AdviceAmerica extends our capabilities into front-office applications, such as financial planning, CRM and proposal tools, that support the growing needs of financial advisors and bank trust departments.”

The integration of AdviceAmerica’s Desktop Advisor platform with leading portfolio management, reporting and trading solutions will provide significant benefits to Fiserv clients and financial advisors. The addition of AdviceAmerica’s front-office tools make Investment Services from Fiserv a market leader in the growing sponsor, bank wealth management, registered investment advisor, and insurance company channels. Its capabilities expand the Fiserv portfolio to enable an integrated, scalable solution for providing holistic advice based upon a broader view of an entire household’s assets and goals.

Fiserv, Inc. (NASDAQ: FISV) is a global provider of information management and electronic commerce systems for the financial services industry. Fiserv is ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry.


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