itSynergy Expands Its RIA Services through Acquisition
itSynergy, a prominent provider of IT and cybersecurity solutions for Registered Investment Advisers (RIAs), has announced a significant development in its service offerings. By acquiring the Itegria business from Comply, itSynergy is poised to enhance its capabilities in supporting financial service firms with tailored IT and cybersecurity services.
Strengthening Compliance and Cybersecurity Expertise
The acquisition marks a strategic step for itSynergy, allowing it to take over full responsibility for IT and cybersecurity services that were previously offered through Itegria. This transition enables Comply to refocus on expanding its regulatory technology platform, ensuring a more streamlined collaboration between the two firms. Clients will benefit from enhanced coordination and targeted solutions.
Leadership Insight
Michael Cocanower, CEO of itSynergy, shared his thoughts on this acquisition, emphasizing its importance in the context of RIA operations. "This acquisition represents an important step in our mission to support the end-to-end operational and cybersecurity needs of RIA firms. By alleviating the burden of IT and cybersecurity infrastructure, we empower firms to prioritize their clients while coordinating with Comply for their compliance needs." Cocanower highlighted the company's commitment to thoughtful onboarding and seamless transition for all clients involved.
Transitioning Clients and Enhancing Service Capacity
With approximately 70 clients transitioning to itSynergy, the company is taking immediate action to expand its team to manage the onboarding process effectively. This effort is aimed at improving service capacity, ensuring that the needs of all clients are adequately met during this transition phase. Michael Stanton, CEO of Comply, stated that this shift reflects a focused evolution in response to the needs of Itegria clients, ensuring they have dedicated specialists for both regulatory compliance and IT management.
About itSynergy
Founded in 1997, itSynergy has built a reputation as a go-to provider for managed IT and cybersecurity services tailored for advisory firms. Based in Phoenix, the company focuses on enabling firm operations to be secure and compliant with regulatory expectations. Its comprehensive IT support covers a wide array of services, including risk assessments, cybersecurity measures, incident response strategies, disaster recovery plans, and ongoing technology management. With their proactive approach and expertise in highly regulated environments, itSynergy is dedicated to strengthening the technology foundations of RIA firms while keeping ahead of emerging challenges.
Looking Ahead
The acquisition of Itegria signifies itSynergy's intent to deepen its service offerings in a rapidly evolving financial landscape. The combination of IT and cybersecurity services within a unified framework enhances the support itSynergy can provide to advisory firms. As the regulatory environment continues to evolve, the need for specialized services in compliance and technology becomes more critical, and itSynergy is positioning itself as a leader in this space.
Frequently Asked Questions
What services does itSynergy provide?
itSynergy offers managed IT and cybersecurity services designed specifically for Registered Investment Advisers, including risk assessments and incident response planning.
Who will benefit from the acquisition of Itegria?
Clients of both itSynergy and Comply will benefit through enhanced coordination and tailored IT and cybersecurity services post-acquisition.
What is the mission of itSynergy?
itSynergy's mission focuses on supporting the operational and cybersecurity needs of RIA firms to help them operate securely and meet regulatory requirements.
How many clients are transitioning to itSynergy?
Approximately 70 clients are expected to transition to itSynergy following the acquisition.
What is the future outlook for itSynergy?
The company aims to strengthen its service capacity and enhance its RIA offerings, ensuring compliance and cybersecurity needs are adequately met in an evolving landscape.
