![]() ![]() “Invisors and its founding partners have an impressive track record as a service partner within the Workday ecosystem,” said Tim Clifford, the president and CEO of Abacus. It’s great to have seen both of our firms grow together.” Abacus is an important and valued relationship for us at WestView. Once again, the entire process was handled smoothly and efficiently. “One, they are easy to work with, and two, they are extremely reliable. “We selected the Abacus team, whom we have known for many years, for two reasons,” said Rick Williams, a managing partner of WestView. Invisors services include initial implementation, add-on modules, post-launch support and optimization.Ībacus was the administrative agent and the lead arranger on the transaction and the firm also made an equity co-investment in Invisors. Workday is a California-based provider of cloud-based financial management and human capital management software. The firm is in the process of securing licences in other provinces with a goal of eventually operating across Canada.Abacus Finance Group has provided senior secured credit facilities to back the minority recapitalization of Invisors by WestView Capital Partners.Ītlanta-headquartered Invisors is a provider of IT consulting services with a specialization in the Workday product suite. Invisor is currently registered as a portfolio manager in Ontario and Manitoba. “The goals-based approach ties into the financial planning services that we plan to introduce later nicely,” Udiaver says. Invisor plans to launch a more comprehensive financial planning platform later this year, incorporating insurance and other components of a client’s broader financial plan. “This is an opportunity to serve a pretty large segment of the population that’s either underserved or, perhaps, not served at all.” “We’re trying to make investment management services available and affordable to all Canadians,” he says, noting that Invisor has no minimum investment amounts required. In particular, barriers such as costly fees and high account minimums leave many Canadians without access to professional investment advice, Udiaver says. The co-founders were driven to launch Invisor based on observations of the financial services sector’s growing concentration on high net-worth clients. Poole also has more than 20 years of experience in the financial services sector, including a variety of executive level roles in the life insurance and reinsurance space. Udiaver co-founded Invisor with Dan Poole, who is also the firm’s chief operating officer. He spent more than a decade at TD Asset Management Inc., at which he was most recently vice president and director, investment management. Udiaver has more than 20 years of experience in financial services. “It’s way lower than what a typical customer would pay for a similar product through the advisor channel,” he says. The total cost of Invisor’s services, including management expense fees, trading fees and Invisor fees, will come to approximately 1%-1.1% annually for most clients, Udiaver says. The firm will use primarily lower-cost F-class mutual funds in order to keep costs down for investors. “We can add value beyond just a benchmark return.” “We don’t want to throw that out the window and say there’s no value for active ,” he says. Udiaver says there is a role for both actively and passively managed products in a client’s portfolio. Unlike most robo-advisory services, which primarily use ETFs in portfolio construction, Invisor also incorporates mutual funds. ![]() “We really want to make this an independent platform,” he says, “where we can use the products that we believe are most appropriate for our clients.” Independence is a key component of Invisor’s robo-advisory platform, Udiaver says, noting that the firm’s portfolio managers will choose funds from all providers based on various selection criteria. The robo-advisor platforms recommend an appropriate asset allocation for clients based on factors such as risk tolerance, age and financial goals. The firm’s services provide clients with an online alternative to working with a financial advisor face-to-face. ![]() Invisor is one of several robo-advisor platforms that have emerged in Canada in the past year. “We want to make it easy and we want them to focus on their goals while we take care of what’s the best portfolio for each of their goals.” “We want our clients to start by thinking about their goals and not to worry about what product to select and what account to open,” says Pramod Udiaver, co-founder and CEO of Invisor. ![]()
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