Digital-first custodian Apex Clearing announced Tuesday the launch of its front- and middle-office solution that enables advisers to build customized workstations.
The platform is called Apex Extend and it is the first tool Apex Clearing has launched that connects front, middle and back office functionalities into a singular tech stack, the firm’s Head of Strategic Partnerships Jonathan Krieger said. “It’s the very tight integration between the front-and middle-office that makes [the tool] unique,” he said.
The platform allows advisers to sync outside front- and middle-office tech providers onto Apex’s back-office tech stack to run investing apps or advisory tools, according to a release.
The custodian launched the product after hearing from advisers that it has been a challenge to work with multiple companies based on the different office functionalities a certain advisory firm needs. On top of that, advisers were experiencing a “lag time” when opening an Apex account, Krieger said.
Apex Clearing launched in 2012 as an API-driven alternative to traditional custodians and previously served as the custodian behind fintechs like Wealthfront and Robinhood.
While Apex Clearing is a custodian, the company’s approach with its tech for advisers is agnostic, which means the firm does not act as an asset manager and isn't in competition with turnkey asset management programs or TAMPs, Krieger said. "We don’t have a horse in that game.”
Flexibility is the strategy for Apex Clearing to stand out from the competition, he said. To that end, advisers can customize the platform's design. “An adviser can put their logos, colors, some of their branding on it so that it has that personal touch,” Krieger said.
“It’s time for an economic reset,” wrote the California governor, in a post on X.
Masterworks was launched in 2017 but its RIA, Masterworks Advisers, is just three years old.
One 2017 form, no broker license, and a $42 million gap they say surfaced on a webinar.
Fewer than half of Americans in their peak earning years feel on track for retirement, while many say limited financial knowledge and access to professional guidance are holding them back.
Meanwhile, Wells Fargo hauled advisors overseeing $825 million in the West Coast, while Wedbush has welcomed a seasoned professional from Stifel in California.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
