The TAMP market is hot, folks.
Just a few weeks after Pershing launched Pershing X to expand its existing managed accounts business into a technology and TAMP hybrid, InvestCloud CEO John Wise showed his vision for pulling together the acquisitions made in 2021 into a single platform — InvestCloud X. For those keeping score at home, I believe Pershing pronounces the letter (as in, Pershing Ex) and InvestCloud is using a roman numeral for 10.
The company now has the assets to rival even industry behemoths like Envestnet, but it’s not the only one growing. Startup GeoWealth also announced an infusion of $19 million in funding after growing its AUM by 700% and total platform assets by 300% since 2018.
It’s just one of the exciting areas in wealthtech we are hoping to dive into during our virtual Invest Connect conference later this month. And for my wonderful Wealthtech Weekly subscribers, you can get FREE passes to the conference using this link. That’s right, totally free. My gift to you. | | Ryan Neal
Technology Editor, Financial Planning
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| By Ryan W. Neal 3 min read | The startup has emerged as a significant competitor to Envestnet’s dominance in the market. Read story → |
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| | | By Ryan W. Neal 3 min read | After a $70 million fundraising round, the company also plans to begin offering HSAs and emergency savings. Read story → |
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| | | By Ryan W. Neal 3 min read | The wealthtech’s strategy is backed by a survey on what fundamentally drives financial advisors and their clients. Read story → |
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| | | Financial advisors have a variety of objectives in working with their investment-planning clients. But when all is said and done, clients are usually mainly interested in a successful road map to growing and protecting their wealth to and through retirement. Risk management is a crucial part of that plan and how wealth managers can bring value to clients. In this session Michael Moriarty, Chief Investment of Wealthspire and Rick Bookstaber, Founder & Head of Risk of Fabric will discuss how investors and markets are changing and how advisors can position themselves to excel in this new landscape. Read story → |
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| What different types of innovative solutions are effective at driving growth? Learn more → |
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| | | By Katie Greifeld 2 min read | The regulator asked Direxion to pull its own application the same day it was filed. Read story → |
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| | Follow Financial Planning in real time. More ways to get the most trusted industry news and analysis. |
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| | | | | | | | | | | | | | | RESOURCES | | | WEB SEMINAR | | Tuesday, November 9, 2021 2:00 PM EST | The competitive nature of the financial services industry today emphasizes the importance of efficient, effective tools and resources to best serve your investing clients. Learn More → | SPONSOR CONTENT FROM CAMBRIDGE | | | WEB SEMINAR | | Thursday, December 2, 2021 12:00 PM EST | In 2022, is AI-enabled software poised to become a bigger tool for wealth management firms? This session will delve into behavioral and technological shifts taking hold of wealthtech, from financial advisors moving away from brokerages in favor of RIAs to the industry’s push for representative diversity. Based on newly released research by Arizent, panelists will also talk about cryptocurrency’s role in wealth management -- the proportion of clients who either own or want to own crypto holdings and how often firms manage crypto for clients within their portfolios. Learn More → | | | REPORT | | | For advisor Brad Goodwin of San Luis Wealth Advisors, COVID brought on a lightbulb moment. Learn More → | SPONSOR CONTENT FROM Schwab Advisor Services | | | WEB SEMINAR | | Wednesday, November 17, 2021 12:30 PM EST | The home buying process has undergone significant changes. The pandemic has profoundly altered the mortgage lending market. The continuation of remote work, relocation out of key urban areas, a growing preference for online possibilities, and the deployment of artificial intelligence applications are only a few trends that are shaping the industry. Join Hedi Patalano, Editor-in-Chief of National Mortgage News and Beth O’Brien, Founder and CEO of CoreVest Finance as they discuss how lenders can stay competitive and meet the needs of home buyers in the fast evolving mortgage business. Learn More → | More resources → |
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