February 21, 2012 WEALTH MANAGEMENT M&A

There were two similar deals last week relating to wealth management in the capital markets space.  

SEI Investments announced its acquisition of select assets from NorthStar Systems. With a greater level of front-office automation now in place, this transaction will allow the investment processing company to strengthen its portfolio of business outsourcing solutions. SEI identified a pressing need for additional technology to help with its new Global Wealth platform.

A related transaction was Envestnet’s announced acquisition of Tamarac. Envestnet provides a wide array of wealth management software and advisory solutions to financial advisors. This acquisition will enable Envestnet to integrate Tamarac’s expertise within the Registered Investment Advisors (RIA) marketplace.

Nearly a week prior, Envestnet announced its acquisition of Prima Capital Holding, a company that offers due diligence, research applications, and modeling services to financial services firms in the wealth management industry.

Our 2011 Financial Technology M&A press release noted a robust level of capital markets activity and an increase in consumer focus on wealth management strategies.