Innovest Systems

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Innovest Systems, LLC
Type Private
Industry Information Technology
Founded 2000
Headquarters New York, NY, USA
Key people William Thomas
(CEO)
Products Information Technology Services
Website www.innovestsystems.com

Innovest Systems, LLC is a privately held firm that provides technology-driven services to trust and wealth management companies, global custodians, investment advisors and others that control, account for, and report on assets held in trust. Innovest delivers its services in a software as a service (SaaS) model. In 2011, Innovest Systems was ranked 2082 in the Inc. 500|5000 list of America’s fastest growing private companies. Innovest ranked 100 in the financial services industry[1]

History[edit]

Innovest was founded in November, 2000 by CEO William Thomas, who had previously been a managing director at Deutsche Bank and, prior to its acquisition by Deutsche Bank, Bankers Trust Company.[2] Thomas’ last assignment at Deutsche Bank was as chief executive of The WM Company, the bank’s wholly owned fund accounting and investment performance subsidiary based in Edinburgh, Scotland. Headquartered in New York City, Innovest has offices in Colorado, North Carolina and California.

Innovest acquired its first client, Matrix Capital Bank, in June 2002.[3] Since then, global financial services firms including Charles Schwab,[4] Mitsubishi UFJ[5] and Millennium Trust Company[6] as well as smaller independent trust and wealth management providers have implemented Innovest Systems’ technology platform. As of 2011, approximately $300 billion (market value) of client assets were being administered using Innovest’s technology platform.

Thomas McInerney, a general partner at Welsh, Carson, Anderson & Stowe, was an original investor in the firm. Innovest is currently an affiliate of Bluff Point Associates, a private-equity firm co-founded by Mr. McInerney and Paula McInerney and based in Westport, CT. Paula McInerney, formerly chief operating officer of OppenheimerFunds, is Bluff Point Associates’ president.[7]

Products and services[edit]

  • InnoTrust

Innovest’s flagship product, InnoTrust, is a secure, integrated, real-time trust accounting and wealth management technology platform provided in a Software as a Service (SaaS) environment.

  • InnoTrust GLOBAL

Built on the same technology platform as InnoTrust, InnoTrust GLOBAL offers a multi-currency accounting and reporting system for global custodians.

  • InnoVue

InnoVue is the secure end-client portal that allows clients’ customers to access account information using a standard web browser. InnoVue provides detailed information such as portfolio holdings, asset allocation, transaction history and schedules of recent transaction activity. In 2010, Innovest introduced the ability to use InnoVue for online trading, routing trades using a low-latency FIX (Financial Information Exchange) engine developed and managed by NYSE Technologies, the commercial technology unit of NYSE Euronext (NYX).[8]

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