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SS&C Acquires Digital Service Provider Modestspark

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SS&C Technologies Holdings announced its acquisition of Modestspark, a leading digital service provider to financial advisors and wealth management firms.

The Redmond, Washington-based Modestspark, which was founded in 2014, has more than 400 clients.

Modestspark offers client portal and client experience enrichment tools that will become deeply integrated with SS&C’s portfolio accounting solutions, including Advent Portfolio Exchange and Axys.

Modestspark’s two employees — co-founders Brad Demeter and Brian Bero — will join SS&C Advent and continue to support their existing clients utilizing other portfolio accounting solutions.

“We are excited to be part of SS&C as it gives us new opportunities to grow Modestspark’s footprint,” Demeter said in a statement. “As we integrate our solution with SS&C’s leading technology platforms, we look to fulfill our vision to help more firms achieve more streamlined client communications.”

Robert Roley, managing director and general manager of SS&C Advent, says that by combining with SS&C — where some 11,000 financial services organizations manage and account for their investments using its products and services — Modestspark’s value can be amplified.

“Modestspark’s client portal capabilities ensure we have a diverse range of solutions to fit our client’s unique needs,” Roley said in a statement.

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