Wealth-management platform gets investment for growth

The financial technology company offers advanced analytics and risk-management tools for professional advisors

Wealth-management platform gets investment for growth

d1g1t, a Toronto-based enterprise financial technology company that serves the wealth-management industry, has announced the closing of its second-round, Series A financing to fund the growth of its digital wealth platform.

The company has raised more than $9 million in two private investment rounds, which were led by Purpose Financial and backed by the Ontario Municipal Pension Retirement System (OMERS). Extreme Venture Partners, Portag3, and a group of angel investors and d1g1t clients also participated.

Based in the cloud, the d1g1t platform is powered by advanced analytics and risk-management tools that provide transparent portfolio management services to financial advisors and their clients. Aside from enhanced communication that allows trust and an enriched client experience, it has advanced enterprise portfolio and client-management capabilities that facilitate individual goal-based planning.

“The wealth management industry has been underserved by modern technology,” said Dr Dan Rosen, co-founder and CEO of d1g1t. “We have engineered our platform to empower advisors to provide proven, transparent, value-added services built around client goals, a richer customized experience for their clients, and stronger client relationships based on long-term trust.”

The d1g1t platform is going live with four enterprise clients, collectively responsible for managing an estimated $13 billion in assets for more than 5,000 households.  As one of four early development clients, Purpose Financial has been working with d1g1t through its Purpose Advisory Solutions platform for the past 12 months.

d1g1t provides an unparalleled end-to-end platform to run a modern advisory business which enables advisors to manage much bigger books more efficiently,” said Som Seif, CEO of Purpose Financial. “Advisors and business leaders can now manage their business real-time through business intelligence and continuity reports, advisors can focus on value added activities, and their families and clients can get full transparency through an integrated client experience and modern reporting.”

With the new end-to-end platform, the entire client-management life cycle — client onboarding, financial and investment planning, portfolio and client monitoring, portfolio rebalancing, trading and compliance — is integrated. Because of that, advisors can expect to be able to focus on client needs and scale their business.