Fiserv, a provider of financial services technology solutions, has acquired AdviceAmerica, a provider of integrated adviser solutions to financial institutions, to expand investment services unit.

AdviceAmerica will become a strategic part of the investment services unit of Fiserv. Purna Pareek, founder and CEO and all employees of AdviceAmerica are expected to join Fiserv as part of the transaction.

The integration of AdviceAmerica’s Desktop Advisor platform with portfolio management, reporting and trading solutions is expected to provide benefits to Fiserv clients and financial advisors.

The addition of AdviceAmerica’s front-office tools and capabilities expand the Fiserv portfolio to enable an integrated solution for providing advice based upon a broader view of an entire household’s assets and goals.

Mike Gianoni, president of financial institutions group at Fiserv, said: The acquisition advances the investment services strategy to be the platform of choice for the wealth management industry. AdviceAmerica extends our capabilities into front-office applications, such as financial planning, CRM and proposal tools, that support the growing needs of financial advisors and bank trust departments.

Mr Pareek said: Fiserv sets the standard for middle- and back-office technology and, with the addition of AdviceAmerica’s front-office solutions, we can provide advisers with an integrated solution that best meets their needs. This is an exciting new chapter for AdviceAmerica and we look forward to working with our new Fiserv colleagues.