NEW YORK and LOS ANGELES,
Sept. 16, 2020 /PRNewswire/
-- Oppenheimer & Co. Inc. ("Oppenheimer"), a leading
investment bank, wealth manager, and a subsidiary of Oppenheimer
Holdings (NYSE: OPY), today announced the launch of a strategic
alliance with global FinTech firm, InvestCloud. The partnership
will accelerate Oppenheimer's buildout of its digital experience
platform for the firm's financial advisors and other professionals,
as well as their clients. InvestCloud is one of the financial
services industry's top digital platforms for wealth management and
asset management firms.
Central to this strategic alliance is the creation of a new
digital advisor-client web-based portal for Oppenheimer's Private
Client Division. The digital portal, expected to launch in the
first half of next year, will be designed, built, and powered by
InvestCloud and will integrate with Oppenheimer's existing
technology infrastructure.
Ed Harrington, Executive Vice
President and Head of the Private Client Division at Oppenheimer,
said, "Oppenheimer's new financial advisor and client portal,
powered by our partnership with InvestCloud, will enable
Oppenheimer's professionals to serve their clients anytime and
anywhere with the most robust suite of digital tools in our
industry today. With end-to-end integration throughout the journey
from prospect to client and beyond, the InvestCloud platform will
take the capabilities of our firm and its financial advisors to a
new level, while elevating each stage of the client digital service
experience."
ENHANCED TECHNOLOGY-ENABLED SOLUTIONS
The partnership is expected to significantly enhance
Oppenheimer's ability to deliver the following technology-enabled
solutions to its financial advisors and other professionals:
- Recruit and prospect transitioning
- Client onboarding and retention
- Business growth and process efficiency
Oppenheimer's partnership with InvestCloud represents the next
step in a series of strategic investments in advisor-facing
technology. InvestCloud will serve to augment the capabilities of
Oppenheimer's other digital platforms, while enhancing the firm's
document creation and delivery solutions. This summer Oppenheimer
completed implementation of AdvisorWorks, an adaptive, proprietary
CRM and desktop dashboard that serves as the landing site for all
advisor applications, delivering an integrated environment for
maximizing its financial advisors' productivity with clients and
prospects. Previous Oppenheimer digital enhancements include
Passport, the firm's portfolio management platform for advisors, as
well as a cloud-based electronic signature and document management
platform.
PROSPECT PORTAL AND DIGITAL CLIENT ONBOARDING
The new partnership will enable Oppenheimer to take advantage of
InvestCloud's unique Prospect Portal and Digital Client Onboarding
apps. The Prospect Portal provides an intuitive and individualized
hub for clients to learn more and engage with Oppenheimer's
advisors prior to becoming a client.
Prospects will then progress to InvestCloud's Digital Client
Onboarding solution, allowing them to seamlessly open new accounts.
Unlike other onboarding solutions, InvestCloud integrates prospect
data with information gathered through InvestCloud's unique
Multi-Question Multi-Answer (MQMA) system. This allows Oppenheimer
to automatically create intuitive proposals and provide an
onboarding experience that is tailored to the individual. Both apps
utilize InvestCloud's unique behavioral science functions for
enhanced digital engagement.
John Wise, InvestCloud's
Co-founder, CEO and Chairman said, "At a time when many financial
institutions are expediting their online offerings to service
existing client needs, there is also a significant case to be put
forward in using digital to engage with prospects. Our apps will
fuel Oppenheimer's business development engines, ensuring prospects
receive intuitive, involved, and individual experiences from the
very first touchpoint all the way through to the long-term
relationship. By taking advantage of our industry-leading Digital
Warehouse and our unique approach to behavioral science,
Oppenheimer is well placed to deliver exceptional prospect and
client experiences which will result in enhanced business
growth."
Albert G. Lowenthal, CEO and
Chairman at Oppenheimer, said, "We continue to deploy capital in a
disciplined manner as we make great progress on our digital
transformation roadmap across our business segments. Our
partnership with InvestCloud will provide intuitive, automated, and
modern interfaces that improve the wealth management experience for
both our advisors and their clients. This investment will optimize
and enhance prior investments as we work to anticipate the
preferences our clients have for both in-person and digital
delivery."
Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc.
(Oppenheimer), a principal subsidiary of Oppenheimer Holdings Inc.
(OPY on the New York Stock Exchange), and its affiliates provide a
full range of wealth management, securities brokerage and
investment banking services to high-net-worth individuals,
families, corporate executives, local governments, businesses and
institutions. For more information, please visit
www.oppenheimer.com.
About InvestCloud
InvestCloud is a global company specializing in digital platforms
that enable the development of financial solutions, pre-integrated
into the Cloud. The company offers on-demand client experiences and
intuitive operations solutions using an ever-expanding library of
modular apps, resulting in powerful products. Headquartered in
Los Angeles with additional
offices in New York, Toronto and London, InvestCloud supports more than
$2 trillion in assets across 750+
diverse clients – from some of the biggest banks in the world,
wealth managers, institutional investors and institutional asset
managers to family offices, asset services companies and financial
platforms. For more information, visit www.investcloud.com.
Oppenheimer Media Contact:
Joseph Kuo / Michael
Dugan
Haven Tower Group LLC
424 317 4851 or 424 317 4852
jkuo@haventower.com or mdugan@haventower.com
InvestCloud Media Contact:
Rich Went
Metia Group
+44 (0) 7745 496 065
Rich.Went@Metia.com / InvestCloud@Metia.com
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SOURCE Oppenheimer & Co. Inc.