Initially announced in July, DASH Technology Group has officially completed its 100 per cent acquisition of Integrated Portfolio Solutions, rounding out its “whole-of-wealth capabilities”.
DASH added that the acquisition would deliver advisers a toolkit to serve “any investor segment, from retail to high-net-worth individuals and family offices”.
As a combined organisation, DASH said clients will be able to access a comprehensive suite of whole-of-wealth tools, including advanced reporting, international trading, a choice of both custodial and non-custodial offerings, managed discretionary account solutions, and integration of these into its digital advice tools.
Integrated Portfolio Solutions is a portfolio administration solution with $10.6 billion in funds under advice (FUA) that acts as a non-custodial platform and removes the burden of portfolio administration.
As a result of the acquisition, DASH’s funds under advice (FUA) has grown considerably to $15 billion, with Integrated contributing $10 billion to the total.
DASH said both firms are “committed to delivering a seamless experience for existing clients” as they move to leverage the benefits of their offerings, creating a more “comprehensive technology solution” for the market.
DASH chief executive Andrew Whelan said this is an important deal for the firm as it works to deliver better solutions for its users.
“This is a key milestone for DASH in our mission to make financial advice more accessible. With this acquisition, we can now cater to a broader range of investors while providing cutting-edge technology solutions that enable advice practices to become more profitable and scalable,” Whelan said.
Integrated Portfolio Solutions co-founder Darryl Johnson said he was pleased with the deal as it will allow his firm’s customers to benefit from DASH’s technology.
“We are excited about the next phase of growth for Integrated. This partnership ensures that our clients will benefit from a far broader range of integrated technology options, positioning them to efficiently grow their businesses and stay at the forefront of the rapidly changing industry and technology landscape,” Johnson said.
Speaking with ifa in September, Whelan said the firm will “continue to look at strategic acquisitions over the next 12 months”.
Whelan added at the time: “DASH’s growth strategy has been, and will continue to be, centred around delivering the most complete and scalable solution in the market.”
