Trois-Rivières, Que.-based Groupe Cloutier Inc. has announced that it’s bringing Toronto-based Invesco Canada Ltd.’s digital wealth-management platform to Quebec.
Groupe Cloutier is the first financial services firm in Quebec to sign on to Invesco’s advisorDUO platform. Launched in November 2017, advisorDUO is an online wealth-management platform (a.k.a robo-advisor) available exclusively to financial advisors whose dealers have signed on with Invesco. The technology platform will operate under the name InvestPLUS in Quebec.
“We strongly believe that InvestPLUS is the perfect combination of advice and technology,” says François Bruneau, vice president administration, investments, with Groupe Cloutier, in a statement. “It will allow advisors to continue providing guidance to their clients while reducing the paperwork associated with opening new accounts.”
Invesco’s advisorDUO platform includes a digital onboarding process whereby new clients can open an account by providing the necessary details, such as know-your-client (KYC) information, via a tablet, smartphone or laptop either on their own or along with their advisors.
Once clients have completed the onboarding process, the platform will recommend one of five target-risk portfolios consisting of ETFs wrapped in a mutual fund structure. The portfolios are designed by Invesco’s Global Solutions team and can include third-party products. Advisors can decide how much of their clients’ assets to allocate to the recommended portfolios.
Windsor, Ont.-based Sterling Mutuals Inc. was the first mutual fund dealer to officially sign on to Invesco’s advisorDUO platform in November 2017.