Financial technology firms OneVest and DriveWealth have announced a strategic partnership to deliver integrated wealth management solutions to enterprises.
The collaboration will integrate OneVest’s wealth management platform with DriveWealth’s investing ecosystem. This will provide broker-dealers, registered investment advisers (RIAs), and international wealth advisory firms with a fully configurable, white-labelled solution.
The platform includes features such as digital onboarding, account opening, adviser and client interfaces, portfolio management, and analytics.
DriveWealth’s application programming interfaces (APIs) facilitate investing and trading processes, from account setup to market transactions and tax reporting.
The integration of OneVest’s end-to-end wealth management technology aims to streamline these operations, offering financial institutions a turnkey solution that adapts to evolving investor demands.
DriveWealth CEO Michael Blaugrund said: “At DriveWealth, we are committed to using technology to broaden access to the wealth creating potential of markets.
“This collaboration with OneVest will empower our partners with wealth advisory tools to thrive in a market landscape that continues to change for both established and newer participants.”
The partnership combines DriveWealth’s expertise in securities trading, clearing, and custody with OneVest’s wealth management capabilities.
The companies stated that the collaboration will enable financial institutions to offer personalised and scalable investment solutions.
OneVest CEO Amar Ahluwalia said: “Our mission at OneVest has always been to Power the World’s Wealth through innovative technology.
“By partnering with DriveWealth, we’re enabling enterprises to deliver unparalleled experiences to their clients, meeting the ever-changing demands of today’s investors.”
Last week, OneVest secured $20m in a Series B equity funding round led by Salesforce Ventures.
The financing round also had participation from new investors Allianz Life Ventures and TIAA Ventures. Existing investors OMERS Ventures, Luge Capital, Deloitte Ventures, Fin Capital, and Pivot Investment Partners also joined the round.
