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Advisor360° acquires Parrot AI to enhance AI capabilities for wealth management firms

Jan 14, 2025•7 months ago

Acquiring Company

Advisor360°

Acquired Company

Parrot AI

WestonAtlantaFintechEnterprise SoftwareSaasFinancial ServicesSoftware

Description

Advisor360°, a leading provider of integrated technology for enterprise wealth management firms, has strategically acquired Parrot AI, a Boston-based generative AI technology firm. This acquisition strengthens Advisor360°'s AI capabilities by integrating Parrot AI's premium generative AI technology, which allows advisors to record, transcribe, and summarize meetings to produce shareable notes and files that seamlessly integrate with major meeting and conferencing platforms. Moreover, Advisor360° plans to introduce Parrot AI's software as a stand-alone version tailored specifically for advisors, aiming to streamline manual tasks and improve the ability to serve clients.

Company Information

Company

Advisor360°

Location

133 Boston Post Rd

Weston, Massachusetts, United States

About

Advisor360° builds, integrates, and delivers technology for wealth management firms. The company’s award-winning integrated and open architecture SaaS platform, powered by AI-driven insights, brings a connected digital wealth experience to financial advisors, their clients, and the home office so that firms can drive better outcomes and innovate quickly. Advisor360° clients benefit from timesaving capabilities and streamlined workflows when it comes to portfolio management and performance reporting, digital onboarding, contact management, financial planning, insurance, proposal generation, trading and model management, document management, analytics, client portal, and compliance. The company’s proprietary Unified Data Fabric® (UDF) is the foundation of its platform, weaving together shared services and pre-built integrations that work with existing technology stacks. The company is headquartered in Weston, Massachusetts, with offices in Bengaluru, India; and remote workforces in Canada and Northern Ireland.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed