Apex Fintech Solutions Acquires Silver Management Group to Strengthen Platform and Expand SaaS Offerings
15 Septiembre 2021 - 7:30AM
Business Wire
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 (“Northern Star”) (NYSE: NSTB), 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.
“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.”
Silver was advised by SenaHill Partners, the leading fintech
merchant bank to the middle market.
About Apex Fintech Solutions
Apex Fintech Solutions LLC, the “fintech for fintechs,” is the
parent company of Apex Clearing Corporation, a custody and clearing
platform that’s powering innovation and the future of digital
wealth management, and Apex Pro, a trusted clearing partner to
broker-dealers, ATS’s, routing firms, professional trading firms,
hedge funds, institutions and emerging managers. We offer
cryptocurrency trading and custody services through Apex Crypto
LLC, a wholly owned subsidiary of Apex Fintech Solutions.
Collectively, our suite of solutions creates an environment where
companies with the biggest ideas in fintech are empowered to change
the world. If you’ve got the guts to dream, we’ve got the guts to
help you realize those dreams. As announced on February 22, 2021,
Apex entered into a definitive agreement with Northern Star
Investment Corp. II (“Northern Star”) (NYSE: NSTB), a publicly
traded special purpose acquisition company, which would result in
Apex becoming a publicly listed company, after the required
approval by the stockholders of Northern Star and the fulfillment
of certain other conditions set forth in the merger agreement.
For more information, visit the Apex Fintech Solutions website:
https://www.apexfintechsolutions.com
Important Information
Certain statements included herein are not historical facts but
are forward-looking statements for purposes of the safe harbor
provisions under the United States Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally are
accompanied by words such as “believe,” “may,” “will,” “estimate,”
“continue,” “anticipate,” “intend,” “expect,” “should,” “would,”
“plan,” “predict,” “potential,” “seem,” “seek,” “future,”
“outlook,” and similar expressions that predict or indicate future
events or trends or that are not statements of historical matters,
but the absence of these words does not mean that a statement is
not forward-looking. These forward-looking statements include, but
are not limited to, statements regarding estimates and forecasts of
Apex’s business, prospects, technology, financial and performance
metrics and projections. These statements are based on various
assumptions, whether or not identified herein, and on the current
expectations of Apex’s management and are not predictions of actual
performance. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as, and
must not be relied on by any investor as, a guarantee, an
assurance, a prediction or a definitive statement of fact or
probability. All of the data presented herein is preliminary and
subject to further change. Actual events and circumstances are
difficult or impossible to predict and may differ from assumptions.
Many actual events and circumstances are beyond the control of
Apex. These forward-looking statements are subject to a number of
risks and uncertainties, including, but not limited to: the
successful integration of Silver’s business; changes in domestic
and foreign business, market, financial, political, regulatory, and
legal conditions; risks relating to the uncertainty of the
projected financial information with respect to Apex; Apex’s
ability to successfully expand and/or retain its product and
service offerings; competition; the uncertain effects of the
COVID-19 pandemic; and those factors discussed in documents filed,
or to be filed, with the SEC. If any of these risks materialize or
our assumptions prove incorrect, actual results could differ
materially from the results implied by these forward-looking
statements. There may be additional risks that Apex does not
presently know or that Apex currently believe are immaterial that
could also cause actual results to differ from those contained in
the forward-looking statements. In addition, forward looking
statements reflect Apex’s expectations, plans or forecasts of
future events and views as of the date of this press release. Apex
anticipates that subsequent events and developments will cause
Apex’s assessments to change. However, while Apex may elect to
update these forward-looking statements at some point in the
future, Apex specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing Apex’s assessments as of any date subsequent to the
date of this press release. Accordingly, undue reliance should not
be placed upon the forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210915005397/en/
Investors: (214) 765-1595 IR@Apexclearing.com
Media: Jonathan Gasthalter/Carissa Felger Gasthalter & Co.
(212) 257-4170 ApexClearing@gasthalter.com
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