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KeyBank to Implement Jemstep Advisor Pro

When Jemstep was acquired by Invesco a year and a half ago, Invesco CEO Martin Flanagan highlighted the importance of combining technology and human insight to produce better investment outcomes for customers. Today’s news that Jemstep has partnered with KeyBank’s Key Investment Services (KIS), provides another opportunity for Invesco’s roboadvisor to prove Flanagan right.

Marc Vosen, Key Investment Services president, called Jemstep “a clear choice” for the firm, underscoring the company’s “proven, cost-effective platform” and integrations with a number of KeyBank partners. “And as a subsidiary of Invesco,” Vosen added, “I know they will be there tomorrow.” As part of the deal, Key Investment Services will deploy Jemstep Advisor Pro, a white-label, robo advisor that provides tiered investment services and advisor access levels to enable financial professionals to work with a variety of different customer segments. The platform guides investors toward appropriate investments by analyzing responses to a customizable risk tolerance survey, and provides both integrated trading and portfolio rebalancing.

Today’s partnership comes a month after Jemstep announced a deal with independent financial advisory firm network, Advisor Group. Phoenix, Arizona-based Advisor Group serves more than 5,000 advisors and oversees $160 billion in client assets. In February, Jemstep partnered with SSG in a deal that would give more than 1,500 RIA client firms access to its Advisor Pro platform. Founded in 2008 and headquartered in Los Altos, California, Jemstep demonstrated its Portfolio Manager at FinovateSpring 2013. The company had raised $15 million in funding previous to its acquisition in January 2016.