Greater automation, increased collaboration and the use of “big data” are at the heart of Raymond James' new technology platform.

Raymond James has unveiled details of its Connected Advisor digital advice platform, becoming the latest industry player to acquire or build a “robo advisor.”

The platform features existing tools that support digital communications and online collaboration, as well as new capabilities to meet the complex financial needs of wealthy clients, the Florida-based firm said.

Among the tools already available or to be rolled out over the coming months include: digital data collection, discovery and proposal systems; secure cloud storage and consolidated access to key documents; enhanced mobile capabilities; goal planning and monitoring tools; advanced analytics capabilities; and investment options for multi-generational households and those in varying financial situations.

Many of the efficiency and collaboration tools are already in place, with the “robo advisor-like” technology and data insight features expected later this year, and other planned enhancements scheduled for 2018, Raymond James said.

Last year, Wells Fargo and UBS Wealth Management Americas partnered with robo-advisor SigFig (see here and here), while US Bank and RBC struck deals with BlackRock’s FutureAdvisor platform (see here and here). FutureAdvisor was acquired in August 2015 by BlackRock.