Jemstep, one of the first online automated investment platforms, has been acquired byInvesco. The deal illustrates the continuing trend of incumbents vying to offer more robo-technology to their clients.
The technology service, which will be called Invesco Jemstep, will continue to focus on financial advisers. Atlanta-based Invesco, which has about $800 billion in assets under management, will have its sales and service teams work with home offices and advisers to implement Jemstep's technology, which includes tracking adviser progress, viewing client data and managing risk. “We have a deep history of providing advisers with the tools they need to help their clients achieve their desired investment outcomes,” said Martin L. Flanagan, chief executive and president of Invesco, in a press release. “As we continually look to enhance our partnerships with advisers, we recognize that digital solutions can expand their options for meeting client needs.”