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Ottawa-based Winfund Software Corp. will integrate Toronto-based Invesco Canada Ltd.’s advisorDUO platform with W.investment, its wealth management software, the two companies have announced.

With the change, Winfund’s mutual fund dealer clients and their advisors will have access to more efficient, automated investment processes, the firms say, which will help them compete with robo-advisors and enhance the customer experience.

“The collaboration between Winfund and Invesco represents a true ‘win’ for the investment industry,” says Eric Tegelaar, assistant vice president, Winfund, in a statement. “advisorDUO is an extremely efficient, easy-to-use tool.”

“Once full integration with Winfund’s wealth management software is complete, advisors and their clients will gain access to enhanced digital investment capabilities,” Tegelaar adds. “This is a win for the advisors and the dealer community, and ultimately, a win for their investing clients.”

Invesco’s advisorDUO tool can improve efficiency by compiling the information required to open new accounts, creating electronically-signed paperwork, and improving the accuracy of data entry during the account-opening process, the firms say. The tool allows advisors to initiate fee-based relationships with clients while keeping client assets on their books.

The technology integration is currently in progress, with a roll-out targeted for the fourth quarter of 2018.