InvestCloud, a platform for the development of financial digital solutions, pre-integrated into the cloud with $2 trillion+ in assets, today announced the company has opened a new office in Carlsbad, California.
This announcement comes as the firm continues to rapidly scale operations to meet growing demand for its digital platform.
The Carlsbad office, located at 5796 Armada Drive, will provide its full suite of services to InvestCloud clients, as well as focus on driving further development on its trading, accounting and middle-office workflow solutions. InvestCloud’s Carlsbad office is its eighth globally and third in California.
The office General Manager will be Carlsbad-based Scott Gruchot. Before joining InvestCloud, Gruchot spent more than two decades in Fintech as a senior tech executive and consultant. He recently was Senior Vice President of Client and Professional Services at Fiserv where he led a team of more than 500 members to transform the company’s Services Center of Excellence which supported and delivered approximately $600 million in revenue.
InvestCloud selected Carlsbad because of its great location, including close proximity to customers and access to a technology-driven workforce. The Carlsbad office’s primary function is to provide back office support for asset and wealth managers and help drive product strategy. Services include daily reconciliation to more than 40 different custodians, performance measurement, billing, statement creation and distribution. This includes InvestCloud’s Green suite of apps that provide multi-asset / multi-currency portfolio accounting.
Scott Gruchot said, “InvestCloud’s approach to digital is truly unique - offering flexible solutions that fit the digital financial transformation needs of a company or a client, both custom designed and off-the-shelf. This approach is driving mass industry adoption with more than 700 clients in only nine years already on the platform. We look forward to meeting new and existing clients at our latest location.”
The InvestCloud Carlsbad office currently supports 175 clients who have chosen to outsource some or all of their back office processes. These clients range from small RIA’s to institutional clients with $20 billion in assets under management.
John Wise, Co-founder, CEO and Chairman at InvestCloud said “The past 12 months have seen huge growth for InvestCloud - and this requires us to quickly scale our global operations. Carlsbad is an obvious and strategic choice. The back-office support team is comprised of industry veterans with an average work experience of 13.5 years. This experience allows our clients to focus on growing their business, while leveraging InvestCloud’s support teams to add value.”
InvestCloud is headquartered at the Pacific Design Center in Los Angeles. Other offices in North America, include New York, San Francisco, Tampa and Toronto. The firm’s European headquarters is in London, UK. The firm also has offices in Bengaluru, India.