Docupace, the leader in cloud-based digital operations software for wealth management firms, announced it has secured a significant growth equity investment from FTV Capital, a sector-focused growth equity investment firm. This investment enables Docupace to expand its product and service offerings to its broker-dealer, registered investment adviser (RIA) and insurance firm customers, as well as with the financial advisors affiliated with these businesses. Docupace also announced the appointment of David Knoch, former president of 1st Global, to the role of chief executive officer, effective immediately.
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The investment and leadership FTV Capital brings to the company will help Docupace accelerate its client-centric initiatives of expanding its capabilities and support, advancing product development and continuing their thought leadership in automating the ways front and back-offices operate, communicate and generate new business.
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“As a longtime advocate and client of Docupace, I am excited to lead the company and accelerate its growth strategy,” said Knoch. “During my decades leading one of the country’s most successful independent wealth management firms, I know how important it is to make the client experience effortless. Robust operating practices translate into better client outcomes, yet too few firms have fully automated the front and back office. Our mission is to solve for this, and with innovative products and platforms that are a natural outgrowth of a culture that prizes anticipating and developing solutions for clients ahead of their needs, and in advance of industry trends, we will do just that.”
Before joining Docupace, as president of 1st Global, the premier research and consulting partner to select CPA, wealth management and tax planning firms, Knoch grew revenue and profitability margins by over 50%, increased client satisfaction to 97%, grew assets under management by 154% and transformed recurring revenue from 55% to 81% of total revenue. Additionally, he developed industry leading investment advisory programs and technologies, growing assets under management from $900 million to $10 billion over 14 years, a 17.1% annual growth rate. Most recently, Knoch led the sale of 1st Global to Blucora, the leading provider of tax-smart financial solutions. In 2018 and 2019, the readers of Investment Advisor Magazine voted Knoch as one of the 25 most influential people in the investment advisory profession and Knoch served as the 2019 chairman of the board for the Financial Services Institute (FSI).
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