Jemstep, a market-leading provider of a digital advice platform for financial advisors, and Key Investment Services (KIS), the retail broker dealer and investment advisory arm of KeyBank, one of the nation’s largest financial services companies, today announced a partnership to deliver an inmarket digital solution in 2017.
The digital advice platform, Jemstep Advisor Pro, has been configured for KIS, with system development and integration now ready for phased implementation.
“We are thrilled to partner with Jemstep to implement their quality digital platform for our existing clients to provide access to our investment services while supporting our Department of Labor and other regulatory requirements,” said Marc Vosen, president of Key Investment Services. “Jemstep was a clear choice for us as they have a proven, cost-effective platform, integrated with firms with which we currently have relationships, and as a subsidiary of Invesco, I know they will be there tomorrow.”
Jemstep Advisor Pro is a configurable white-label digital advice service that enables financial institutions to offer tiered investment advisory services to different customer segments with different levels of access to advisors. The platform’s flexible, self-service interface utilizes single sign-on (SSO), making it easy for clients to onboard as AUM based clients, but also reach out for service if needed.
Jemstep’s guided investment flow includes a customizable risk tolerance questionnaire, which based on responses, will map clients to the appropriate portfolio. Jemstep Advisor Pro is an open investment architecture platform with integrated trading and portfolio rebalancing. In the case of KIS, investment portfolios are provided by BNY Mellon’s Lockwood, with trading and rebalancing supported by BNY Mellon’s Pershing on the Pershing NetX360® platform.
Jemstep worked closely with KIS, Pershing and others to implement Jemstep Advisor Pro quickly and efficiently. “Based on our experience to date, my team now considers Jemstep one of our strategic technology partners,” said Vosen.
Vosen added that Jemstep’s commitment to partnership and the platform’s integration with their existing platforms also helped to quickly bring the service live.
“Jemstep is proud to partner with Key Investment Services to deliver both a quality digital solution to help clients meet their financial goals and an efficient service that integrates within KIS’s existing middle and back-office processes,” said Simon Roy, President and CEO of Jemstep. “Jemstep is dedicated to working with banks, broker dealers, RIAs and other financial institutions to help them grow their wealth management business by meeting the evolving needs of their client base, regulators and their shareholders.”