Global investment management firm Invesco Ltd., based in Atlanta, has acquired Jemstep, one of the first digital platforms designed to provide financial advice, the two firms announced Tuesday.
Terms of the deal that closed Tuesday between Jemstep, which is headquartered in Los Altos, Calif., and Invesco, which has a presence in 20 countries, were not released. Invesco has about $800 million in assets under management.
An early entrant in the digital marketplace, the robo-advisor Jemstep was founded in 2008 and was designed to enable advisors to deliver professional advice to their clients online. The Jemstep platform provides advisors with technology that is flexible and customizable, Jemstep says, and offers investors access to professionally selected investment options across mutual funds and ETFs.
“The Invesco Jemstep combination is unique in that it will unite world-class investment management capabilities, Silicon Valley technology and expert human advice to deliver a comprehensive digital solution,” says Peter Intraligi, head of distribution for North America at Invesco. “We will deploy our industry-leading home office and field sales support in the U.S. to ensure that advisors realize the value of incorporating a digital solution into their practices.”