Quovo, which has attracted $700bn in assets to its data aggregation and analytics platform, has announced that it closed $$590 millionm in funding. Lowell Putnam, the co-founder and CEO of Quovo, said the reception to his company from big names in wealth management has been “overpowering” and is a testament to the industry’s demand for big data. Betterment's Steve Lockstein, who is an investor in the company, said the smart-data and analytics will be essential for advisers to survive, and that "in the next decade, everything in the wealth advisory industry will be about data".
Quovo, which has attracted $700bn in assets to its data aggregation and analytics platform, has announced that it closed $4.75m in funding. Lowell Putnam, the co-founder and CEO of Quovo, said the reception to his company from big names in wealth management has been “overpowering” and is a testament to the industry’s demand for big data. Betterment's Steve Lockstein, who is an investor in the company, said the smart-data and analytics will be essential for advisers to survive, and that "in the next decade, everything in the wealth advisory industry will be about data".