Financial institution State Street teams up with Apex for wealth expansion prospects

State Street Corporation and Apex Fintech Solutions have joined forces in a strategic partnership that aims to deliver a game-changing, fully digital, globally scalable custody and clearing solution for wealth advisors and self-directed wealth platforms.

With this partnership, State Street, a leading provider of front-office software and data solutions to large enterprise wealth managers, reporting over $3 trillion in assets, will leverage Apex's digital custody and clearing platform to expand its wealth services offerings to the global wealth management industry.

Apex Fintech Solutions, a global financial technology platform with over 200 clients and 22 million brokerage accounts that hold over $200 billion in assets worldwide, powers investing infrastructure, digital custody, clearing, and access to US markets. The fintech company has been fueling the fintech revolution for over a decade by solving the hard challenges needed to expand and improve investing for everyone.

John Plansky, executive vice president of State Street Wealth Services, stated that the partnership with Apex Fintech Solutions will augment their wealth services capabilities. He added that State Street will bring its global client base, institutional infrastructure, core custody and platform services, and ecosystem of specialist partners to the partnership.

Bill Capuzzi, CEO of Apex Fintech Solutions, expressed his excitement about the partnership, stating that wealth management is on the precipice of enormous change, and firms need backend systems and capabilities that are fast, flexible, and secure to capitalize on this change. He further stated that Apex Fintech Solutions looks forward to working with State Street to drive the future of wealth management by enabling the global advisor-based market to launch, scale, and innovate at unprecedented speed.

Apex Fintech Solutions delivers a flexible, modular platform that allows wealth managers and fintech innovators to launch new products, scale efficiently, and integrate seamlessly across the ecosystem. This platform will be a crucial component of the partnership, enabling State Street to offer its clients a more streamlined and efficient digital wealth management experience.

State Street aims to bring the same level of focus and execution excellence to the growing global wealth customers' investment goals with the help of the partnership with Apex Fintech Solutions. State Street Investment Management, which oversees more than $1 trillion in wealth-related assets, will benefit from this partnership by advancing its digital asset ambitions and leveraging the growing opportunities in the global asset market, especially through enhanced digital custody and investment services.

The strategic partnership project involves the acquisition of a minority stake in Apex Fintech Solutions by State Street Corporation. This move is expected to further strengthen the partnership and enable State Street to capitalize on the growing opportunities in the digital asset market.

In conclusion, the partnership between State Street Corporation and Apex Fintech Solutions is set to revolutionize the wealth management industry by delivering a differentiated, fully digital, globally scalable, custody and clearing solution that will cater to the needs of wealth advisors and self-directed wealth platforms. This partnership will undoubtedly drive innovation and efficiency in the wealth management sector, enabling firms to capitalize on the enormous changes on the horizon.

Financial institution State Street teams up with Apex for wealth expansion prospects