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FinTech Firm Asset Vantage Acquires US Based Financial Navigator

Brings Next Generation, Cloud-Based Technology to North American Wealth Management Industry

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Asset Vantage Inc., creators of the most sophisticated cloud/mobile- based asset management, accounting and reporting system on the market, announced that it has acquired Santa Clara-based Financial Navigator Inc., a leading US provider of integrated general ledger and portfolio tracking software focused on the wealth management market.

With the addition of Financial Navigator, Asset Vantage will further its expansion into the wealth management accounting software market in North America, while gaining a seasoned team of developers and customer support personnel anchored in Silicon Valley. The two companies have a combined customer base exceeding 300 families globally.

“We are excited to bring on board Financial Navigator’s industry knowledge and roster of preeminent clients, and we look forward to leveraging the expertise their team brings to the table,” said Mark Rogozinski, CEO of Asset Vantage North America. “Our goal is to expand the capabilities of the combined entity in order to increase our market share, initially focusing on families in North America with over $25 million in assets, estimated at 200,000 households, and families in India with over $5 million in assets, estimated at 250,000 households. The US and India are strategic markets for us – they represent the world’s largest and fastest growing wealth markets, respectively, and will be the foundation in building our global footprint.”

“Financial Navigator pioneered the use of fintech solutions in the family office accounting market,” said Sunil Dalal, chairman of UniDEL group, Asset Vantage’s parent. “Its vision to build a system around the highly complex accounting and reporting needs of multi-generational families was remarkable.

Combining our firms will enable clients to benefit from Asset Vantage’s next-generation, fully featured, cloud/mobile-based solution. We are thrilled to add Financial Navigator’s long history of achievement to our own.”

“The entire team at Financial Navigator is eager to join forces with Asset Vantage,” said Ed Van Deman, CEO of Financial Navigator. “Our combined firms will provide clients with an outstanding user experience and we are energized by the additional resources and extended reach that will result from this combination.”

“We are well positioned to expand our client base globally, focusing on high net worth families, through organic and inorganic growth opportunities,” said Sunil Dalal. “With over 7,000 global family offices and hundreds of thousands of families with more than $25 million in assets, we have just scratched the surface of this tremendous market opportunity. These families require the ability to report on all of their assets and investment activities and Asset Vantage’s solutions are specifically designed to meet their complex needs.”

New York-based investment bank, Silver Lane Advisors LLC, advised Asset Vantage on the acquisition. Terms were not disclosed.


Tags assigned to this article:
acquisition Asset Vantage Financial Navigator

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