FIS, InvestCloud Partner to Roll Out WealthTeach Tools

FIS, a fintech platform, and InvestCloud have teamed up to launch a new wealth management solution that provides advisors with AI-powered tools to boost its clientexperiences. 

The two platforms have joined forces to roll out the FIS digital wealth solutions, which is designed to equip advisors with AI-powered portfolio management tools to provide “personalized” services to their clients. 

The digital wealth solutions utilize InvestCloud’s Advisor Workspace and Client Experience capabilities and are integrated with FIS’s platforms. Additionally, through FIS’s Code Connect, an API platform, financial institutions can deploy FIS’s digital wealth solutions without any interruptions to its active framework, the firm said. 

“The FIS partnership is a unique platform to expand our footprint to bring differentiated capabilities to financial institutions to help them delight their wealth clients,” Jeff Yabuki, CEO and chairman of InvestCloud, said. “At a time of transformative change, we are working together to deliver the personalized, high-touch service that strengthens relationships and keeps the human connection at the center of wealth management.” 

The partnership comes at a time when multiple firms are collaborating to launch AI-focused wealth management tools to address the growing concern regarding advisors gaining a competitive edge to offer more “tailored” offerings to their clients. 

Recently, iAltA Holdings acquired Precept, a weal tech integration platform. The acquisition aims to streamline integrations across custodians, clearing firms, TAMPs, CRM, and portfolio management systems, to address one of the most persistent operational bottlenecks in the industry. 

In December, InvestCloud expanded its existing partnership with JP Morgan’s wholly owned subsidiary 55ip to deliver tax optimization across both public and private market assets within a single unified managed account. 

Through the integration, 55ip’s proprietary ActiveTax TechnologySM with PMA, financial advisors will be able to automate tax optimization, tax-loss harvesting, and tax transition for diversified portfolios that include alternative investments. 

Florida-based FIS manages about $5.5 trillion in assets and serves RIAs, community and regional banks, private banks, trust companies, and family offices across over 600 financial institutions, the firm said.