Docupace has confirmed the acquisition of Canadian financial technology upstart Hubly.
Founded in Vancouver in 2019 by Louis Retief, Ron Gorodetsky, Sean Rumsby, and Oban MacTavish, Hubly offers a tech-forward workflow management platform for financial advisory.
“Our platform is designed to transform the household experience within financial advisory firms, ensuring high-touch, stress-free service—even at scale,” reads a statement from the firm. “Hubly ensure that households consistently receive efficient, top-notch care, setting a new standard for financial advisory services.”
The acquisition of Hubly follows a funding round in 2022 that sparked a quest for growth.
“We’re incredibly proud of what the Hubly team has accomplished, building a category-defining workflow product,” stated Retief, who serves his startup as CEO.
“As we join forces with Docupace, [we] are excited for this new chapter to accelerate functionality and value for the market we serve, pushing the market further towards efficiency and automation,” Retief said.
The CEO posits that “bringing Hubly under the Docupace umbrella significantly advances our ability to provide value to our customers and continue transforming the wealth management market.”
Hubly’s back-office hub saves clients time through workflow automation end-to-end, from onboarding new clients to tax preparation and other financial planning processes.
Docupace, based in New Jersey, is a provider of software designed to streamline back-office operations of wealth management enterprises.
Alignment between the two entities is “perfect,” according to Docupace chief executive David Knoch.
“This acquisition perfectly aligns with our strategic vision to deliver a comprehensive back-office ecosystem to the financial services industry and underscores our commitment to delivering exceptional back-office software solutions to TAMPs, broker-dealers, banks, RIAs and more,” he stated.
“Hubly and Docupace share a passion for taking the complex, cumbersome, and most arcane areas of the wealth management industry—and transforming them into a unified, transparent and intelligent experience,” Knoch said.
The process of integrating Hubly into Docupace’s enterprise-level processes will begin immediately, according to a statement from the firms, with a “focus on ensuring a seamless transition for employees, clients, and partners.”
Terms of the transaction were not disclosed.
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