SS&C Technologies announced in October that it has acquired CRM solution Salentica. The CRM platform will work as a partner with SS&C’s Black Diamond wealth platform, which it acquired with Advent Software in 2015.
“Fundamentally this is an acquisition about adding deep expertise in CRM, a key component of the advisor technology ecosystem, and being able to bring that experience to large, complex advisory firms,” Dave Welling, managing director and co-general manager of SS&C Advent, said in a statement. “We welcome Salentica’s unparalleled knowledge and experience in wealth management CRM implementations to clients using the Black Diamond wealth platform and other SS&C solutions in a unique and meaningful way.”
Salentica has over 5,000 users in the financial services industry, with an average firm size of $3 billion in assets. It will retain its current leadership team under SS&C.
Bill Rourke, president and founder of Salentica, said in the statement that his firm and SS&C Advent share a “mutual commitment to supporting clients and how the combination of technology and service play a key role in their growth.” He added, “We are excited to enter this next phase of our growth as part of SS&C and to deepen our already strong relationship with the SS&C team.”
Vanare Parners With FinMason on Robo Offering
Also on Monday, Vanare announced that it is partnering with financial education firm FinMason to provide risk analysis services within the Vanare platform and robo-advisor offering. “They have an incredibly intelligent risk engine,” Vanare CEO Rich Cancro said in a statement. “On a daily basis, their system regresses thousands of variables against virtually every public security in the market, isolates relevant factors, and provides derived analytics in real time via APIs.”
Mark Hollingsworth, FinMason’s Head of Advisor Solutions, noted that while fintech innovation has worked to bring more consumers access to financial services, “they fail to provide meaningful analytical measures of investments with our level of rigor.”