Wauwatosa-based Advicent Solutions has acquired Figlo, a Rotterdam, Netherlands-based developer of interactive software used for real-time communication between financial advisors and their clients.
Advicent, which has more than 250 employees, provides financial consultancy and planning software to banks, insurers and financial consultants. Its global headquarters is at 10700 W. Research Drive in Wauwatosa, and the Figlo head office will become its European headquarters.
Advicent is a portfolio company of Vista Equity Partners. It was previously the financial solutions division of Wauwatosa-based Zywave Inc., from which it split after Zywave’s insurance solutions division was sold in November 2013.
Figlo has more than 60 employees at two offices, who will all become Advicent employees, said Kirsten Porter, spokesperson for Advicent. The Figlo leadership will remain in their roles, with the chief executive officer reporting to the Advicent CEO, Phil Cunningham. The Figlo brand will be retained in the Netherlands.
The acquisition will expand Advicent’s global reach, upgrade its NaviPlan and Profiles products to include Figlo’s interactive technology, and position it to continue driving technological advances in financial planning.
“With our acquisition of Figlo, we will be able to individualize these new standards of communication for the financial plan itself to increase customer satisfaction and retention,” said Matthew Field, senior vice president of product and development at Advicent.
The companies did not disclose the transaction price.
“Technology is improving how clients receive financial advice and increasing the value they expect from their advisors,” Cunningham said. “The combination of Advicent and Figlo will provide advisors with a key competitive advantage and access to the most comprehensive and persuasive planning software available to support their recommendations, resulting in an entirely new level of instantaneous real-time interaction and communication with their clients.”
“We look forward to bringing advisors in the United States and Canada the innovation we forged in the Netherlands: a more interactive and impactful conversation to engage their clients in a uniquely compelling and turnkey way,” said Jenze Bosma, founder and president of Figlo.
