InvestCloud has announced the acquisition of London-based startup rplan, to the tune of $20 million.

Rplan is a provider of client engagement technology designed to support investment online and over mobile. It claims to serve half of the top eight asset firms in the UK.

The acquisition will see rplan’s services made available to InvestCloud’s client base of more than 700 firms.

John Wise, chairman and CEO of InvestCloud, said: “The success of rplan’s solution is indicative of a changing institutional asset management industry.

“In the UK, D2C has been popular for several years, and hence more common as a channel. In the US, fund managers have been traditionally concerned about channel conflict. But the success of Vanguard with significant inflows is changing the landscape and the approach of other US fund managers.”

Andy Creak, director at rplan, said: “We are very excited to be part of the InvestCloud platform. InvestCloud has been extremely successful in the Americas, supplying the largest financial institutions in the US and Canada. rplan has the most advanced D2C solution in the UK. We look forward to combining the InvestCloud platform and financial resources with our own solution and know-how to dominate the D2C market globally.”

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com
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