WealthConnect is a digital adviser practice management, customer relationship management (CRM) and compliance system and is based on the Salesforce platform.

WealthConnect enables advisers to manage client relationships, portfolios and run administrative tasks.

GBST says the deal marks a significant step in GBST’s new growth strategy as it seeks to expand its range of fintech products and services.

GBST believes adviser firms have "a renewed and pressing need" for better practice management services and demonstrate value for money. 

Robert DeDominicis, global CEO of GBST, said: “We’re excited to welcome the WealthConnect team into the GBST family and connect our wealth management expertise and products with their adviser practice and CRM capabilities. This is the next logical step in our growth.

“As the importance of properly integrated fintech continues to grow, we have been assessing the adjacent wealth management CRM market for some time and WealthConnect stands out as being entirely complementary.

"Every day, thousands of advisors use GBST technology to execute investments, savings, and retirement decisions for their clients. The addition of WealthConnect broadens our suite of cloud-based technology offerings that will deliver innovation and efficiencies to advisory and wealth management businesses while driving better customer outcomes.”

Beau Dixon, partner at Anchorage, and chair of the GBST board said: "We’re delighted to support GBST in taking another significant step in its expansion strategy and further delivery of leading cloud-based solutions to clients.”

WealthConnect will be added to GBST's existing SaaS wealth management offerings including Composer, an expanded and market leading client base, access to a growing advisor platform market, entry into new geographic regions, and a partnership with Salesforce.

WealthConnect delivers the world’s first investment platform based solely on Salesforce, GBST says.