Wealth management compliance platform SmartRIA has acquired Greytwist Data Governance for an undisclosed amount.
Greytwist is a solution vendor for due diligence and management, personally identifiable information (PII) data governance and cybersecurity policy and procedures management and oversight. Its technology aims to simplify compliance for investment advisors with tools including a centralized database of cybersecurity profiles of common vendors and a unique mapping of client data across organizations.
This acquisition will see the Greytwist solution integrated into the SmartRIA compliance management platform. After the integration, SmartRIA will serve over 1,500 wealth management firms ranging from one-person stores to large firms with more than $15bn in assets under management.
Following the acquisition, Greytwist co-founder Brian Bero believes SmartRIA will accelerate the product roadmap and solution innovation for customers.
SmartRIA CEO Mac Bartine said, “Greytwist Data Governance has taken a bold step forward in standardizing a deeply complex problem. We believe their unique approach to solving the troubling issues around data governance and vendor management combined with SmartRIA’s Compliance Management Platform and our continuing passion for simplifying compliance is a very powerful combination.
“We look forward to welcoming aboard the Greytwist Data Governance team and taking special care of their customers to assure an easy transition into SmartRIA care.”
As part of the deal, Bartine will lead the combined companies.
SmartRIA offers software to help wealth managers stay compliant with tools including smart automation, workflows and reporting, audit preparedness, secure document storage, and operations, oversight and organization.
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