Vanare|Nest Egg, a technology firm serving advisors, announced Wednesday that it has entered into a strategic partnership with Quovo to provide advisors with an online wealth management platform to seamlessly aggregate client data.
Quovo bills itself as an innovative financial data science company for the wealth management industry.
“Quovo’s clean and consistent data will enhance the value of Vanare’s platform,” said Vanare CEO Rich Cancro, in a statement. “Our combined solution will help advisory firms by giving them deeper knowledge of how clients manage all of their finances — from checking account transactions, to loan and insurance payments, to assets in other savings and investment vehicles.”
The key to the alliance will be that advisors can put their client risk assessments, asset-class models and investment portfolios that they have built into Vanare’s online wealth management platform backed by Quovo’s aggregation technology, according to Cancro.
“Quovo’s normalization and re-evaluation engine is able to translate data from thousands of sources into a single format that our partners can then leverage for their clients,” added Lowell Putnam, CEO and co-founder of Quovo. “We are pleased to partner with Vanare as they are dedicated to bringing dynamic, digital approaches to traditional advisor workflows.Their platform allows advisors to educate and serve individuals of any asset level, with holistic solutions available online, anytime, at the client’s demand,” he said.
Lex Sokolin, Chief Operating Officer at Vanare | NestEgg, was just named one of the new influencers in Investment Advisor magazine’s annual most influential list.
In 2010, Sokolin created NestEgg Wealth, a technology company and RIA that helped pioneer online wealth management in partnership with financial advisors.
“The idea for NestEgg was to combine those challenges with the solutions of the consumer web and ETFs,” Sokolin told Investment Advisor. “In 2010, this was quite a new idea.”
In 2014, NestEgg was acquired by Vanare, which has since helped the platform commercialize and expand.
— Check out Quovo Raises $4.75M; Carson and Bicknell Among Backers on ThinkAdvisor.