Wealthtech Week in Review (4/29/19)


Xignite partnered with StockCharts.com to enable the popular online destination for traders and investors to significantly increase its market reach around the world. SmartRIA integrates with SS&C’s Black Diamond Wealth Platform to significantly streamline the surveillance of compliance activities for well-established RIA firms. 55ip partnered with Shareholders Service Group (SSG) to enable advisors to design or enhance their own adviser-branded investment strategies. Docupace integrates with FundKeeper to enable advisors and back office staff to open and maintain mutual fund accounts from one unified interface. New details about Cetera’s decision to partner with startup AdvicePay due to the acute need within the wealth management industry for more advisor-centric technology.

TradePMR is rolling out new augmented reality technology for advisor recruitment, which blends virtual objects with real-world settings. Wealthfront is increasing the interest rate on high-yield accounts that bring in $1 billion since launching in February.

xignate

Financial market data cloud company Xignite has partnered with financial charting and technical analysis platform, StockCharts.com. The collaboration will enable the popular online destination for traders and investors to significantly increase its market reach around the world, as well as boost StockCharts.com’s ability to offer more data – including data on international markets.Smart-RIASmartRIA announced an integration with SS&C’s Black Diamond Wealth Platform to significantly streamline the surveillance of compliance activities for well-established RIA firms.

The direct connection between the two systems allows RIA firms to use Black Diamond data within SmartRIA. The shared data creates a 360-degree view of client households, which facilitates surveillance of mission-critical compliance issues. These can include: client annual reviews, trading inactivity, and high account cash balance alerts, viewing and reporting on accounts by discretionary/non-discretionary status and other complex compliance oversight issues.

tradepmr

TradePMR, a technology and custodial services provider, is rolling out new augmented reality technology for advisor recruitment. The technology, which blends virtual objects with real-world settings, is intended to give financial advisors a preview of what it would be like to work with TradePMR. The first experience, an invitation to the firm’s annual advisor conference Synergy 2019, was released to advisors today. Future uses include a virtual tour of TradePMR’s headquarters and tech demonstrations all with built-in messages from TradePMR leadership, including exclusive content for advisors.

55ip

55ip, an investment strategy engine that enables advisors to automate and custom-build investment strategies using quantitative capabilities, has partnered with Shareholders Service Group (SSG), a brokerage and advisory firm for independent investment advisers and their clients.

Advisers using SSG will now be able to leverage 55ip’s modular investment capabilities to design or enhance their own adviser-branded investment strategies that address the most common frictions that get in the way of client outcomes – fees, taxes and risk of extreme losses.

Wealthfront

Wealthfront’s new high-yield accounts bring in $1 billion since launching in February. Wealthfront is increasing the interest rate on those accounts from 2.24 to 2.29 percent— now higher than high-yield offerings from Goldman Sachs’ consumer banking arm Marcus. The company, which says it manages $13.5 billion in customer assets, plans to launch direct deposit and a debit card by the end of this year.

Docupace Technologies

Docupace, a data-driven digital operations platform designed to meet the specific business needs of broker-dealers, RIAs, and insurance organizations, announced the integration of the Docupace platform with FundKeeper, an innovative mutual fund service platform that brings together the real-time shareholder accounting technology of Envision Financial Systems and the operational experience of U.S. Bank Global Fund Services.

Cetera

Cetera’s decision to partner with startup AdvicePay was all about timing, and lack of appropriate tech from existing vendors, according to the firms.

New details about the Cetera and AdvicePay relationship show the acute need within the wealth management industry for more advisor-centric technology, and how more of those solutions are coming from inside, not outside, of the industry. Cetera began developing an action plan around a trend toward fee-for-service it had identified about a year ago.


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.