Invesco's digital wealth platform for financial advisors, Jemstep, is partnering with the retail broker dealer and investment arm of American financial services company KeyBank; this is the second big piece of news for Jemstep, they recently signed a deal with a network of US financial advisors called Advisor Network; Jemstep is a white label platform for financial advisors to offer their clients; Simon Roy, president and CEO of Jemstep, told AltFi’s Robo Advice News, "Jemstep is proud to partner with Key Investment Services (KIS) to deliver both a quality digital solution to help clients meet their financial goals and an efficient service that integrates within KIS's existing middle and back-office processes." Source
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Invesco Perpetual has sold GBP9.6 million ($12.45 million) worth of shares in the Ranger Direct Lending Fund, reducing its stake to 27.9%; the GBP243 million ($315 million) Fund has been struggling in 2017; it primarily invests across the private debt landscape with a focus on private direct lenders; however its losses have been related to its exposure to troubled lending platform Argon Credit which it had invested in indirectly through the Princeton Alternative Fund; in February 2017 it reported a significant impairment charge for the investment and its value has been decreasing. Source