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Docupace Enhances Wealth Management Solutions Through Hubly Acquisition

Docupace, a key player in software solutions aimed at optimizing the back-office operations of wealth management firms, has made a significant move in the market by acquiring Hubly, a renowned workflow management platform. This strategic acquisition, announced on March 11, 2025, reflects Docupace’s commitment to enhancing operational efficiency and improving service delivery in the financial advisory sector.

Streamlining Operations with Hubly

The addition of Hubly’s capabilities provides Docupace with a robust framework designed to address the workflow and collaboration hurdles often faced by registered investment advisors (RIAs) and wealth management firms. Hubly's workflow system efficiently assigns tasks, ensuring they are documented and handled by the correct team members at the appropriate times. This enhancement is nothing short of revolutionary, aiming to elevate the overall client experience by ensuring that no tasks fall through the cracks.

Docupace's CEO, David Knoch, emphasized the alignment of this acquisition with the company's vision to deliver an integrated back-office ecosystem. He remarked, “Hubly and Docupace share a passion for transforming the complex and cumbersome areas of the wealth management industry into a transparent and intelligent experience.” The strategic direction is clear—a focus on not just survival in a competitive landscape, but definitive leadership by leveraging advanced technology.

Key Features of Hubly

Hubly is recognized for its ability to significantly enhance the efficiency of financial advisory operations. The platform automates various functions, including but not limited to:

• - Client Onboarding: Streamlined processes for welcoming new clients.
• - Meeting Management: Efficient scheduling, preparation, and follow-up for client review meetings.
• - Account Transactions: Simplification of opening new client accounts and facilitating money movements.
• - Tax Preparation and Planning: Tools designed to assist tax-related tasks.
• - Training for New Employees: Structured onboarding experiences for new team members.

By automating these critical tasks, Hubly effectively saves its clients hundreds of hours, allowing financial advisors to allocate more time to client interactions and strategy formulation.

Impact on Wealth Management Firms

The acquisition is not just about expanding Docupace's toolbox; it signifies a shift in the way wealth management firms can operate. According to Docupace's analysis, firms utilizing Hubly have experienced significantly faster growth in assets under management (AUM) compared to their peers. Data indicates that Hubly user firms outperformed other RIAs in both one-year and five-year growth metrics, showcasing the tangible benefits of adopting automated workflows.

Comparative Growth Data

Using data from Discovery Data as of December 31, 2024, Docupace has highlighted the stark difference in growth rates:

• - Firms with 1 employee saw an average one-year AUM growth of 30.26% compared to 25.81% of their peers.
• - For firms with 2-5 employees, Hubly users experienced an average 30.54% growth against 23.48%.
• - Even larger firms (6-10 employees) reported a 33.15% growth compared to 21.08% among non-Hubly users.

A Step Towards Greater Efficiency

This acquisition is a strategic continuation of Docupace’s efforts to redefine back-office automation in the financial services sector. Coupled with their previous acquisition of PreciseFP in 2021, Docupace now offers an unprecedented combination of tools that save time and optimize resources for RIAs. To celebrate this integration, Docupace is offering all Hubly users interested in adopting PreciseFP a six-month 50% discount on their subscription fees, fostering a community that thrives on collaboration and innovation.

Louis Retief, CEO and Co-Founder of Hubly, expressed enthusiasm about joining forces with Docupace, stating, “We are excited for this new chapter to accelerate functionality and value for our market, pushing it further towards efficiency and automation.”

As integration efforts begin, Docupace is focused on ensuring a seamless transition for all stakeholders involved, looking ahead to what promises to be an impactful evolution in wealth management operations.

Conclusion

The acquisition of Hubly by Docupace marks a significant milestone in the evolution of financial advisory technology. With a strong focus on innovation, efficiency, and accountability, this move positions Docupace firmly at the forefront of transforming the wealth management landscape. For financial advisors seeking to enhance service delivery and operational efficiency, keeping a close eye on how Docupace integrates these two powerful platforms will be essential in the coming months.

For more information about their offerings and how they can help your firm, visit Docupace's website.