Fi360 acquires technology platform for investment policy statements

Users can develop customizable templates for eight unique client types

Oct 17, 2013 @ 9:02 am

By Gregory Crawford

Fi360 has acquired IPS AdvisorPro, a technology platform that helps financial advisers develop customized investment policy statements.

“We feel strongly that the implementation and maintenance of a high-quality IPS is critical for effective management of the investment process,” fi360 chief executive Blaine F. Aikin said in a statement. “The IPS AdvisorPro technology is the most effective solution available for developing custom IPS templates and managing them across clients.”

IPS Advisor Pro was developed by Norm Boone and Linda Lubitz Boone, experts on investment policy statements and authors of "Creating An Investment Policy Statement" (FPA Press, 2004). The technology allows users to develop templates for eight unique client types, including individuals, trusts, ERISA plans, foundations and endowments, charitable trusts, and irrevocable life insurance trusts. The templates are fully customizable.

Mr. Boone and Ms. Lubitz Boone will act as consultants to fi360 while continuing to lead their respective independent advisory firms.

Terms of the deal were not disclosed, but it marks the third acquisition for fi360 this year. In September, the company acquired Ann Schleck & Co., a consulting firm, and in January, it acquired Financial Service Standards, a firm that trains retirement plan advisers and develops practice management resources. fi360 provides investment fiduciary education, practice management and support.

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