Leading independent wealth management group James Hambro & Partners (JH&P) has selected global FinTech firm InvestCloud to support a digital transformation that will put it far ahead of most peers in the way it communicates to clients.
The London-based manager, which has over £3.4 bn assets under management, is embarking on the biggest technology spend in its 10-year history. InvestCloud is a platform for the development of digital financial, pre-integrated cloud solutions and supports more than US$2 trillion in assets.
JH&P will use the InvestCloud Blue suite of apps to enable digital client communication, automation and management. InvestCloud Blue digitises client onboarding, engagement and advice, including financial planning and reporting, giving managers a comprehensive view of all clients. InvestCloud will also empower intuitive and responsive client experiences tailored for specific client bases.
Using InvestCloud's experience with Iress Pulse, alongside its modular and scalable software, JH&P expects to achieve significant cost savings through client onboarding automation.
Andy Steel, CEO of JH&P, said: "We have an increasingly complex client base and we have to deliver a flexible technology solution that allows people to absorb our services in the way that best suits them. If that’s sitting across the table having a one-to-one discussion that’s great – we’re always going to be here for that traditional approach. But busy people on the move want to absorb data in different ways. They want information at their fingertips in a format they can configure to best suit them.”
He added: “We chose InvestCloud because it’s the only FinTech company that we think has solved the digital transformation needs of the investment management industry. We wanted to modernise our client and adviser digital experiences without increasing our IT department. InvestCloud’s innovative solutions will help us future-proof the way that we serve our adviser clients and their end-investor clients alike. Client growth and retention is paramount – along with operational efficiency – and InvestCloud enables these."
InvestCloud's financial digital solutions provides clients with intuitive financial platforms and an ever-expanding library of modular apps. The company's Programs Writing Programs™ (PWP) technology enables the customisation at a scale that JH&P requires.
John Wise, InvestCloud's Co-founder, CEO and Chairman, said: "As a well-respected discretionary fund manager in the UK with a strong digital vision, James Hambro & Partners is a welcome addition to our strategic client base. By using the InvestCloud platform, the firm will be able to leap-frog the competition. InvestCloud will help it significantly advance not only the way that it communicates with its professional adviser clients – and how they, in turn communicate with their investor clients – but also how it onboards clients. This will bring significant operational efficiency to its growth strategy. Andy’s team has the digital ambition to drive significant success, and we are excited to be working with them."