Fintech

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Financial advisors already finding answers with AI as they look to the future
FINTECH AUG 17, 2023
Financial advisors already finding answers with AI as they look to the future

'We see AI as a friend and not a foe' — advisors say technology is driving down costs and allowing them to serve a bigger book of business.

By Gregg Greenberg
The latest in financial #AdvisorTech — August 2023
FINTECH AUG 16, 2023
The latest in financial #AdvisorTech — August 2023

This month's highlights include Wealth.com’s launch of an AI-driven ‘legal assistant,’ the Kitces Research AdvisorTech study’s depiction of the industry’s integration challenges, and the crop of digitally native RIAs.

By Michael Kitces and Ben Henry-Moreland
Ex-Vanguard CEO joins venture capital firm to guide investments in advisor fintech
FINTECH AUG 14, 2023
Ex-Vanguard CEO joins venture capital firm to guide investments in advisor fintech

McNabb believes there is still lots of opportunity for technology to help advisors become more efficient and serve clients better.

By Ryan W. Neal
UNest enters financial advisor marketplace with Wealthtender partnership
FINTECH AUG 11, 2023
UNest enters financial advisor marketplace with Wealthtender partnership

The startup has raised more than $40 million but until now has only gone directly to consumers.

By Ryan W. Neal
Jeff Rosenberger and Guideline's mission to provide 401(k)s to small businesses
RETIREMENT PLANNING AUG 11, 2023
Jeff Rosenberger and Guideline's mission to provide 401(k)s to small businesses

The digital record keeper now has $9 billion in AUM across 40,000 customers.

By Ryan W. Neal
Is it time for advisors to dump AI stocks?
FINTECH AUG 10, 2023
Is it time for advisors to dump AI stocks?

AI stocks are down 2% in the past week, leading advisors and portfolio managers to debate whether the sector’s best days are behind it.

By Gregg Greenberg
Wall Street girds for what's next in WhatsApp probe
FINTECH AUG 09, 2023
Wall Street girds for what's next in WhatsApp probe

Regulators have quizzed more than a dozen other firms about the use of unofficial channels like WhatsApp.

By Bloomberg
Wedbush wealth management had 'pervasive' texting problems: SEC
FINTECH AUG 08, 2023
Wedbush wealth management had 'pervasive' texting problems: SEC

Wedbush staff members sent and received messages related to providing investment advice to the firm's clients, according to the SEC.

By Bruce Kelly
Navigating AI’s regulatory challenges
FINTECH AUG 07, 2023
Navigating AI’s regulatory challenges

Like other technologies in the past, AI is bound to reshape the operations of the financial advice industry.

By InvestmentNews
LPL, Ameriprise wade into AI applications for advisors
FINTECH AUG 04, 2023
LPL, Ameriprise wade into AI applications for advisors

'When I left Ameriprise earlier this year, the company was just starting to talk about AI,' one financial advisor said.

By Bruce Kelly
Envestnet revenue falls short of expectations in Q2
FINTECH AUG 03, 2023
Envestnet revenue falls short of expectations in Q2

Company did meet Wall Street’s expectations for earnings per share at $0.46 and CEO says he expects the Data and Analytics business to stabilize in the second half of the year.

By Ryan W. Neal
Galvin launches investigation into brokers' use of AI
FINTECH AUG 03, 2023
Galvin launches investigation into brokers' use of AI

The Massachusetts Secretary of the Commonwealth sent letters to firms including JPMorgan and Morgan Stanley to learn how they are using AI with investors.

By Ryan W. Neal
Will Elon Musk's X take over financial services? Don't hold your breath
FINTECH AUG 02, 2023
Will Elon Musk's X take over financial services? Don't hold your breath

Advisors raise a collective, skeptical eyebrow as billionaire goes where many other Silicon Valley companies have already tried and failed.

By Ryan W. Neal
Embrace mobile tech or risk being left behind in next demographic shift
OPINION AUG 02, 2023
Embrace mobile tech or risk being left behind in next demographic shift

The use of mobile technology is becoming more deeply ingrained in the advisor-client relationship.

By Kevin Fusco
Tech in favor, but investors wary of AI hype
EQUITIES JUL 31, 2023
Tech in favor, but investors wary of AI hype

Survey reveals investors plan to increase tech allocations but are unsure about how much artificial intelligence will upend business.

By Bloomberg
Morgan Stanley sells student loan benefits provider to Vestwell
RETIREMENT PLANNING JUL 28, 2023
Morgan Stanley sells student loan benefits provider to Vestwell

Gradifi, which sold to ETrade in 2019 for $30 million, will expand Vestwell beyond retirement savings.

By Ryan W. Neal
Concerns percolate about how SEC’s AI proposal aligns with Reg BI
RIA NEWS JUL 27, 2023
Concerns percolate about how SEC’s AI proposal aligns with Reg BI

Proposal will be an 'additive regime' that gets layered on, according to lawyer.

By Mark Schoeff Jr.
Edward Jones named in potential Canadian class action
FINTECH JUL 27, 2023
Edward Jones named in potential Canadian class action

Investors join nationwide law firm suit.

By Matthew Sellers
SEC proposal would require brokers, advisors to remediate conflicts related to use of AI
FINTECH JUL 26, 2023
SEC proposal would require brokers, advisors to remediate conflicts related to use of AI

SEC Chair Gary Gensler says investors deserve to be protected but a critic argues proposal shows 'hostility toward technology.'

By Mark Schoeff Jr.
Social media's impact on investing
OPINION JUL 26, 2023
Social media's impact on investing

The uncertain economic environment means the general public can benefit from the experience of a good financial advisor, rather than getting their investment ideas from TikTok or YouTube.

By Kelvin Cheng