Touchstone Wealth Management and Microgen Financial Systems have merged.
In addition, IQ-EQ, a global provider of trust, fund, and corporate services, as signed an agreement to extend their current relationship. Microgen and Touchstone software will be used across all of its global offices.
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The merger is set to enable the combined firm to provide the increased global coverage and scale needed for a rapidly evolving market.
Christiaan van Houtven, COO of IQ-EQ, said: “I’m pleased to have extended our relationship with Microgen and confident that their merger with Touchstone will underwrite their commitment to us and the rest of the market, based on their increased scale and capacity to deliver the technology innovation we need as we continue to evolve.”
Keith Hale, Executive Chairman, added: “I’m delighted that the merger has completed, so we can continue to quickly progress the integration, enabling us to service our clients in the best possible way. I’ve already been very impressed with the great chemistry between the teams. Everyone shares the joint goal of providing innovative, resilient, secure and modern technology to the Corporate Service, Trust and Fund Administration market. Signing the extension with IQ-EQ is a great example of how we can support our customers to grow globally.”
Microgen and Touchstone will have a workforce of over 150 people. They will service over 450 customers with 15,000 users in more than 30 jurisdictions. The name of the merged company will be announced soon.
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By GlobalDataMergers are still present in the market. California-based RIA Perigon Wealth Management merged operations with Florida-based peer RLP Wealth Advisors in January 2020.
The consolidated entity will adopt the Perigon Wealth Management brand and manage around $1.8bn in assets.
Its branch network will be spread out across California, Florida, Montana, New York, New Jersey as well as Hawaii.
As part of the deal, RLP’s Jeremy Paul will become Perigon president.
