GBST continues to be active on the M&A front on a selective basis and has finalised the acquisition of two highly complementary and value accretive businesses: WealthConnect and Advice Intelligence.
WealthConnect is a Melbourne-based global developer and owner of world leading front office cloud-based wealth management SaaS solution, built on the Salesforce Financial Services Cloud platform.
The WealthConnect product suite includes a range of complimentary Salesforce applications. Out of the 5,000 Independent Salesforce Vendors (ISV), WealthConnect is the only financial services enterprise ISV on the Salesforce App Exchange and is promoted by the global Salesforce Account Executive team as their preferred industry-based wealth management SaaS solution.
WealthConnect has existing contracts with major banking clients including ANZ and AMP, and a A$150m opportunity pipeline including customers in GBST’s core markets of Australia and the UK, as well as Southeast Asia and North America.
This transaction completed on 28 April 2023 and has been rebranded to GBST-WealthConnect.
Advice Intelligence brings an independent CRM solution, client engagement, goals-based advice, mobile, workflows and apps together in a single digital platform enhancing the financial adviser and client experience in real time.
The business delivers a hybrid advice model which includes full automation with limited adviser / end customer interaction required – both regulators and industry leaders are seeking to shift to a hybrid model of advice which allows a lower cost to serve whilst delivering regulatory and customer requirements in both Australia and the UK.
The acquisition accelerates the delivery of GBST’s technology roadmap and positions the business to capture a significant share of the growing advice practice management, digital and hybrid advice markets through the delivery of its market leading cloud-based portfolio of solutions.
This transaction completed on 21 July 2023.
The combined offerings of GBST, WealthConnect and Advice Intelligence will streamline and enhance the client experience.
GBST continues to experience strong and growing global demand for its complete suite of cloud-based solutions.