InvestCloud forges partnership with Focus firm Buckingham

InvestCloud has expanded its web of fintech partnerships as it collaborates with a major entity within the Focus Financial network of RIA firms.

On Wednesday, the global wealth tech provider unveiled a deal with Buckingham Strategic Wealth and its sister company Buckingham Strategic Partners to enhance their financial advisor experience.

The multi-phase collaboration aims to boost advisor productivity and improve client interactions at Buckingham through advanced digital capabilities.

InvestCloud is starting off Buckingham’s tech transformation by implementing its Advisor Experience for the firm’s advisors, giving them an integrated digital platform that combines various systems into one seamless interface.

This integration promises to let advisors focus more attention on client engagement rather than administrative tasks – a priority for a large enterprise like Buckingham, which reported over $70 billion in assets administered or managed as of March 31, 2024.

In a statement Wednesday, Kapin Vora, president of digital wealth North America at InvestCloud, called the deal “a strong proof point” of the fintech platform’s ability to increase advisor efficiency.

 “We’re excited about the opportunity to help Buckingham transform their advisor experience,” Vora said.

The InvestCloud platform combines multiple systems and data sources, including CRM and financial planning tools, into a single dashboard. With a central location to access clients’ information, the feature lets advisors efficiently respond to client requests, execute scenario planning, and prepare for meetings.

"One of our top priorities is to enhance the digital experience we deliver for our advisors, and in particular, time-saving capabilities that will enable them to best serve their clients,” said Adam Birenbaum, CEO of Buckingham Strategic Wealth and Buckingham Strategic Partners.

It’s worth noting that Birenbaum is also the new CEO of the Colony Group, one of the major hubs in Focus Financial’s ongoing intra-network merger strategy. Under an agreement announced in May, Buckingham was absorbed into Colony, and Birenbaum was named to step up as CEO of the combined entity.

InvestCloud says the next steps in their partnership will include a new client experience tailored to various client personas and a revamped prospect experience, scheduled to roll out over the next year.

"The early feedback is extremely positive, and we look forward to continued enhancements that will further enable high-quality and seamless advisor experiences,” Birenbaum said.