Wealthtech Week in Review (4/22/19)


United Capital launches an advice and planning platform for independent advisers. Betterment adds Dimensional Fund Advisors to its platform for advisers. Vestwell combines 3(38) fiduciary line-up services with target date model portfolios from Morningstar. An automated investing platform Titan is launching retirement accounts this summer.

Envestnet announced a partnership with Invent.us to help WealthTech companies connect in the cloud. RightCapital has joined LPL Financial’s Vendor Affinity Program. TD Ameritrade is offloading its retirement plan custody and trust assets to Broadridge Financial Solutions.

STASH has fulfilled half a million Stock-Back™ rewards just one month post launch. Objectway has been included in the inaugural top 100 WealthTech.


United Capital

United Capital Financial Advisers, LLC (“United Capital”), a Financial Life Management firm, announces the launch of FinLife Partners, a turnkey advice and planning platform that allows independent advisers access to the firm’s proprietary Financial Life Management system, including adviser-branded client experience tools, digital workflow technology and personalized on-demand coaching.

Betterment

Popular fund provider Dimensional Fund Advisors will soon make its mutual funds available on the Betterment for Advisors platform.

Betterment CEO Jon Stein said the move is part of a number of enhancements designed to broaden the appeal of its digital-advice platform for advisers, and one current customers have requested for years.

Stash

STASH, one of the fastest growing financial platforms in the U.S., simplifying how millions of Americans save and invest, announced it has fulfilled half a million Stock-Back™ rewards just one month post launch.

STASH is the only financial platform with an investment account and a debit card that work together to turn every American into an investor. Customers earn fractional shares of stock every time they use their STASH debit card. Customers automatically and instantly build investment portfolios that can reflect their spending habits by earning stock rewards directly in the companies they shop, eat, watch, listen and live with.

Objectway, a specialist in the digital wealth, investment & asset management sector, has been included in the inaugural top 100 WealthTech, a list of the most influential and promising wealth tech companies complied by FinTech Global, a research firm in the financial services industry. The criteria assessed by the Advisory Board and FinTech Global team included industry significance of the problem being solved, company growth, and innovation of the technology solutions in terms of potential cost savings, efficiency improvement, impact on the value chain and/or revenue enhancements generated for clients.

Vestwell

Vestwell, a digital retirement platform, announced the launch of a service combining 3(38) fiduciary line-up services with target date model portfolios from Morningstar Investment Management LLC, a provider of discretionary investment management and advisory services. This series of target date model portfolios, built from one of the line-ups created by Morningstar Investment Management, will give Vestwell advisors exclusive access to a new set of target-date strategies.

Titan

Robo quasi-hedgie Titan plans a retirement account offering to launch this summer.

Y Combinator graduate and automated investing platform Titan, which has a product similar to a hedge fund, is launching retirement accounts “this summer,” confirmed co-founder Clayton Gardner. The robo investing app functions similar to a hedge fund, offering its clients varying degrees of downside protection in the form of cash equivalents and inverse ETFs, for example, and currently offers taxable investing accounts. Its retirement offerings will include traditional, Roth and rollover IRAs.

Envestnet

Envestnet-veteran Oleg Tishkevich reunites with his former firm through a new partnership to help wealthtech companies connect in the cloud.

Former Finance Logix CEO Oleg Tishkevich is forming a strategic partnership with Envestnet as his new company, Invent.us, works to become the wealthtech firm’s de facto API whisperer. The two firms announced a partnership that will see Invent.us supporting Envestnet’s enterprise clients as they weigh moving cloud-based platform solutions to a new cloud-native architecture.

LPL Financial

Scale has its benefits, and LPL Financial, now with some 16,000 advisors, is taking advantage of it. RightCapital, which provides a financial planning software to advisors, has joined LPL Financial’s Vendor Affinity Program, a centralized repository of vendors who offer their tools to LPL advisors at a discount.

TD Ameritrade

In a bid to focus on its core goal of helping affiliated RIAs grow, TD Ameritrade is offloading its retirement plan custody and trust assets to a fast-growing FinTech firm.

Broadridge Financial Solutions expects to have about $420 billion in assets under administration and over 118,000 plan accounts through its mutual fund and ETF trade processing platform, Matrix Financial Solutions, after the deal closes as expected in June. The number of those assets and accounts coming from TD was not disclosed, nor was the purchase price.


Contributed by Vasyl Soloshchuk, CEO and co-owner at INSART, FinTech & Java engineering company. Vasyl is also the author of WealthTech Club, which conducts research into Fortune and Startup Robo-advisor and Wealth Management companies in terms of the technology ecosystem.