Assette CEO Thusith Mahanama, commenting on the recent Clearwater Analytics acquisition of Wilshire Advisors’ performance analytics platforms, noted in a FundFire story on the deal: “The asset management industry today spends an inordinate amount of time managing vendors. In fact, recently, a chief operating officer told me they want to get back in the asset management business and not the vendor-management business.”

Bridget Hickey and Sam Heller at FundFire unpacked the deal, which has Clearwater, a fintech firm serving the investment business, set to acquire four risk and performance analytics platforms from Whilshire, a global financial services firm. The deal is part of a wave of consolidation in the fintech space. As Mahanama notes in the FundFire story, this arrangement allows both fintech firms and asset managers to focus on the things they do best.

“The arrangement will allow Clearwater – a dedicated fintech company – to take over the software and shepherd it forward, while Wilshire can focus on its consulting business and retain use of the software,” Mahanama notes in the story.

From Assette’s perspective, we also welcome consolidated/de-silo’d operational systems in the industry. This way, firms using systems such as Assette, which uses data to create sales and marketing content, have fewer data sources to work with.

Read the FundFire story here.

Read the full press release here.

For more information about how Assette can serve your needs data presentation, marketing automation and other needs, request a demo via our website or email us at info@assette.com.