BROOKFIELD, Wis. – Fiserv announced yesterday it is purchasing AdviceAmerica, a provider of integrated advisor solutions to financial institutions and independent advisors.
The integration of AdviceAmerica’s Desktop Advisor platform with leading portfolio management, reporting and trading solutions will provide significant benefits to Fiserv clients and financial advisors. The addition of AdviceAmerica’s front-office tools make Investment Services from Fiserv a market leader in the growing sponsor, bank wealth management, registered investment advisor, and insurance company channels. Its capabilities expand the Fiserv portfolio to enable an integrated, scalable solution for providing holistic advice based upon a broader view of an entire household’s assets and goals.
AdviceAmerica, founded in 1999, is based in Fremont, Calif., with a research and development center in Bangalore, India. AdviceAmerica founder and CEO, Purna Pareek, and all employees of AdviceAmerica are expected to join Fiserv as part of the transaction.
AdviceAmerica will become a strategic part of the Investment Services unit of Fiserv, which is the market leader with the industry-leading technology platform for managed accounts. Financial terms were not disclosed.
