Core Insights - Communify, a digital platform led by former InvestCloud CEO John Wise, has acquired Empaxis Data Management, enhancing its capabilities in investment data management for wealth and asset managers [1][2]. Group 1: Acquisition and Integration - The acquisition of Empaxis will allow Communify to integrate advanced data management technology into its platform, addressing issues of fragmented and inaccessible data that wealth managers face when utilizing artificial intelligence [2][3]. - Communify's platform already connects with over 175 market data vendors globally, positioning it as a significant player in market data distribution [3]. Group 2: AI and Data Management - The data management system from Empaxis will support Communify's MIND AI suite, which includes tools designed to convert large datasets into actionable insights for advisors [3][4]. - MIND AI Stories aims to simplify complex financial data into clear narratives for client interactions, with recent expansions to include Client Stories and Portfolio Stories that provide comprehensive financial insights [4]. Group 3: Industry Challenges - The industry faces challenges with unreliable and disparate client data, which complicates the implementation of AI solutions [5]. - Communify's strategic acquisition of Empaxis is aimed at overcoming these data management challenges, leveraging Empaxis's expertise in the field [5].