Hatton Consulting has purchased Quantvex, a venture-backed technology startup focused on digital engagement for the wealth management industry.
Hatton, an independent wealth management firm, said the acquisition will enhance its offerings to more effectively serve its clients in a post-DOL Fiduciary Rule environment.
Founded in 2017, Quantvex is a digital engagement and financial planning platform for the wealth management industry. Its mission is to empower wealth managers with technology to advise, educate, and engage clients according to its website.
Its platform is designed to meet FINRA and other regulatory requirements, and claims to eliminate the need for cold calls, questionnaires, and other ‘unfriendly prospecting’ methods. The company boasts bank level security to ensure safe, seamless exchange of client information.
“Hatton Consulting is excited to partner with Quantvex and their innovative technology is expected to enhance and improve the wealth management experience for both current and future clients, said Tigran Unciano, a private wealth manager and partner of Hatton Consulting.
“Quantvex’s technology aligns tremendously well with the principals and practices of Hatton Consulting, as described in The New Fiduciary Standard by Timothy Hatton and The Wealth Management Experience by James Hatton.”
Quantvex is led by CEO and co-founder, Shang Chou, a graduate of the Massachusetts Institute of Technology and the UCLA Anderson School of Management. The company, which was incubated within the UCLA Anderson Venture Accelerator, has landed backing from venture capital firms like Fika Ventures as well as angel investors.
“Hatton Consulting is a beacon of fiduciary oversight in the wealth management realm and we are delighted to partner with a team that shares our commitment to bringing education and transparency to the industry,” Chou added.
Earlier this year, Envestnet, a wealth management and financial wellness solution, acquired FolioDynamix from Actua Corp. The transaction saw Envestnet spend $195m in cash for all outstanding shares, funding the acquisition through borrowings under its credit facility.
While in may 2017, digital wealth management solution Evolute secured a $6.15m Series A in its first round of external financing. The funding for the Zurich-based company came from a group of unnamed figures from the Swiss finance and startups scene.
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