AIQ, Inc. a Clifton, NJ-based company that has developed a proprietary database of 2.1m financial advisors in the U.S. called Meridian-IQ, has received an investment of undisclosed amount from Penton.
According to Nicholas W. Stuller, president and CEO of AIQ, the investment by Penton and their strategic relationship will help the company develop new products and add new functionality.
In conjunction with the alliance, William O’Conor, vice president of Penton’s Financial Services Group will become a member of AIQ’s board of directors. In addition, Penton will become a reseller of the Meridian-IQ database to clients.
Developed by a team of financial services industry professionals who have decades of experience working with hundreds of financial institution, the database includes wirehouse advisors, independent advisors, registered investment advisors (RIAs), insurance advisors and trust officers, as well as senior management at these firms.