AlphaTrAI, an AI-focused provider of technology-driven services for the wealth and asset management industry, has inked a new deal to advance its ongoing growth strategy.
The wealth tech company announced Thursday that it has acquired Anchor Advisory Services, a Plymouth, Massachusetts-based firm specializing in scheduling and sales management solutions for financial institutions.
AlphaTrAI’s latest deal combines its artificial intelligence tools with Anchor’s established expertise in sales management, enhancing service delivery for wealth and asset management firms.
“We are bringing together exceptional industry talent from both companies with advanced sales and technology capabilities that will enhance the client experience, drive efficiencies and streamline operations,” Bill Dwyer, AlphaTrAI’s CEO, said in a statement Thursday.
This acquisition reflects AlphaTrAI’s broader ambition to boosting innovation across the industry by integrating AI-driven technology into key business functions for financial services providers.
With the addition of Anchor’s capabilities, AlphaTrAI expects to unlock new growth opportunities by optimizing client outreach and internal operations.
“Anchor's expertise earned from scheduling over 50,000 meetings between advisors and wholesalers will be significantly enhanced with the integration of our technology,” he said.
Best known from his 20-year-long tenure at LPL that ended in 2013, Dwyer made his return to wealth management business earlier this year as he joined AlphaTrAI’s leadership in February.
Later in April, the company tapped John Sweeney, the veteran with more than 30 years of experience across several arenas touching business, investment, and technology.
Steve Rokoszewski, founder and president of Anchor, highlighted his company’s progress and the potential of the latest partnership.
“Over the past eight-and-a-half years, with nearly one million outreaches, Anchor has evolved from a leading scheduling company to a comprehensive service provider for product distributors,” Rokoszewski said. “This acquisition marks an exciting chapter in our journey.”
AlphaTrAI expects the partnership to strengthen its position in delivering tech-enabled services to registered investment advisors and asset managers across the country.
Dwyer emphasized the synergistic partnership between the firms, blending “AlphaTrAI's innovative application of artificial intelligence for front, middle and back office applications” with “Anchor's RIA acquisition and outsourced internal wholesaling capabilities.”
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
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
