Silver’s extensive regulatory cost basis & tax reporting capabilities and other data management solutions will be integrated into the Apex platform and available as independent SaaS offerings
Apex Fintech Solutions LLC (“Apex”), the “fintech for fintechs” powering innovation and the future of digital wealth management, which has previously announced a merger with Northern Star Investment Corp. II, has acquired the Silver Management Group of Companies (“Silver”), a leading provider of business and technology solutions for the investment services industry.
Silver’s expertise in regulatory cost basis and tax reporting will strengthen Apex’s platform by streamlining the processing of real-time and nightly batch activity via Silver’s ultra-scalable, cloud-based architecture. By tightly integrating these mission-critical components of the middle office tech stack, Apex will be better positioned to deliver timely and accurate cost basis data and tax reporting information to its clients, empowering end-customers to make more informed, tax-aware investment decisions. These capabilities will benefit new and existing Apex clients but will also be sold as a standalone SaaS offering providing more access and optionality to a wider range of businesses.
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“We look forward to leveraging Silver’s solutions as an integrated part of our business and as an independent SaaS offering complementary to Apex’s core custody and clearing operations,” said Bill Capuzzi, CEO of Apex. “Partnering with Blake and the Silver team will expand Apex’s suite of solutions, while enabling us to operate more efficiently.”
“Having worked with Apex for several years as both a cost basis solution provider and a unified wealth data integration partner, I am excited for Silver to join forces with Apex as we continue solving real-world problems with innovative investment services solutions,” said Blake Henry, CEO of Silver. “This transaction allows Silver to ‘level up’ – furthering Silver’s longstanding mission to enable secure and timely access to trusted financial information while advancing Apex’s strategic growth strategy.”
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