Docupace, the leader in cloud-based fintech digital operations software for the wealth management industry, announces it is expanding its back office platform with the acquisition of jaccomo, a premier compliance, data integration, financial reporting, and advisor compensation accounting system. Integrating jaccomo’s data-centric capabilities with the Docupace Platform’s powerful automation, workflow and digital processing tools creates a centralized source for execution excellence within the wealth management industry.
“The jaccomo team and technology is a trusted partner to dozens of enterprise wealth management firms from RIAs, to banks, to broker-dealers and more,” said David Knoch, chief executive officer at Docupace. “The financial services clients both our firms are honored to serve, both now and in the future, deserve technology that simplifies and automates all of their back office, not just a part of it, which is a vision that shines brightly at Docupace. By combining the proven, enterprise and flexible capabilities of the Docupace and jaccomo platforms we take a meaningful step forward in achieving that vision, creating data-rich, highly-integrated operating experiences across a wider segment of back office processing.”
jaccomo’s solutions provide mission-critical operational functions empowering advisors and back-office personnel to efficiently manage all aspects of compliance, business operations and financial reporting. The powerful, cloud-based tools include real-time surveillance and compliance solutions, advisor commissions and compensation accounting, full-service data integration, process automation and more.
“We are honored to join a long-term leader in wealth management technology,” says Bob McGill, founder and CEO of jaccomo. “Integrating jaccomo’s compliance, data and compensation systems into the Docupace Platform will significantly expand the scale and impact our technology can have on financial advisors, their clients and their businesses.”
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Next Wave of Innovation is in Execution
Far too often, strong client and financial advisor experiences in the front office are met with deep execution challenges in the back office – digital data is turned analog, paper and pens are still required, operations professionals manually move data between un-integrated systems, and firms spend millions supporting legacy, homemade operating platforms. Docupace believes that there is so much promise at the heart of wealth management. However, none of that promise is realized if operational processes aren’t smooth, efficient, transparent and error-free.
Docupace is solving these back-office challenges for wealth management firms, large and small, by delivering a consolidated new account opening process, digital forms creation and electronically signed documents, integration with third-parties that eliminates duplicate data entry, and ensuring straight-through-processing workflows soon to be powered by artificial intelligence and robotic process automation.
“Financial advisors have worked so hard to deliver exceptional client experiences as part of their brand promise; these advisors need back-office execution to be excellent because it deeply impacts both their brand and their personal reputation. More importantly, it impacts the ability for well-crafted financial plans to stand the test of time. No one is in a better position to solve the industry’s operational challenges than Docupace. With our back-office DNA, our focus is to be the key to execution excellence for RIAs, broker-dealers and the clients they serve,” said Knoch.
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