Invesco Ltd. has purchased Jemstep, a software company that supplies digital platforms to help financial advisors do business online.

The American parent company of Invesco Canada announced on Jan. 12 that it had purchased the California-based software company for an undisclosed amount. In a statement outlining the reasons behind the acquisition, Invesco noted that Jemstep was one of the first digital platforms that focused exclusively on helping advisors deliver advice online; the Jemstep Advisor Pro package allows advisors to transform their websites into interactive portals where they can both communicate with existing clients and enroll new ones.

Invesco says its sales and service teams will work with financial advisors in the United States to make sure they get the most out of the new platform. Jemstep will also provide Invesco's home offices with information to help track advisor progress, view client data in aggregate, enhance portfolio management offerings, and manage risks.

“We have a deep history of providing advisors with the tools they need to help their clients achieve their desired investment outcomes through a broad range of high conviction active and factor-based investment strategies," comments Invesco’s president and CEO Martin L. Flanagan. “As we continually look to enhance our partnerships with advisors, we recognize that digital solutions can expand their options for meeting client needs. Jemstep’s proven platform enhances our ability to help advisors grow their business and by seeking to deliver superior client experiences in a rapidly evolving market environment.”