AlphaTrAI rebrands to Praxis Solutions in strategic refresh

AlphaTrAI rebrands to Praxis Solutions in strategic refresh
Bill Dwyer, CEO of Praxis Solutions.
The AI-focused fintech firm's new name, which comes after a two-year process of transformation, reflects its updated all-inclusive framework.
OCT 15, 2024

AlphaTrAI, a technology provider for the wealth and asset management sectors, has rebranded itself as Praxis Solutions. This rebranding is part of a two-year strategic initiative aimed at positioning the firm to offer integrated technology solutions that streamline business processes for financial service providers.

Praxis Solutions says it now operates under a “Think. Make. Do.” approach, which combines business process expertise, advanced algorithms, and technology integration to deliver customized services to clients.

In a statement, Bill Dwyer, CEO of Praxis, said the company’s reorganization has equipped it to offer a more cohesive solution.

“Over the past two years, we’ve reorganized, built, and brought on board additional resources to deliver a high-quality, all-inclusive framework that helps stakeholders identify areas of opportunity, develop tech-enabled programs, and implement them,” said Dwyer, the veteran leader from LPL who re-emerged earlier this year to take the chief exec position at the fintech firm.

The rebrand marks a shift in how the firm connects technology creation with execution, addressing a significant challenge in wealth and asset management. Many firms face difficulties bridging the gap between tech innovation and practical implementation. Praxis aims to fill this gap by offering a unified platform that brings together different stages of the technology life cycle.

According to Dwyer, “There has been an explosion of fintech SaaS providers in the marketplace. However, without the skills to customize and implement the solution for each business and the expertise to operationalize it, optimal solutions for our industry have been out of reach.”

The rebranding follows the firm’s August acquisition of Anchor Advisory Services, a consulting firm specializing in scheduling and sales management for financial services professionals, to gain unique insights into the needs of registered investment advisors, which will enhance its service offerings. The same month, it tapped several industry veterans to beef up its leadership team, supporting previous moves to broaden its core competencies while eliminating non-essential business lines as part of its reorganization.

Earlier in April, Praxis appointed John Sweeney as its new president. Sweeney, who brings over 30 years of leadership experience in wealth management, was hired to oversee the company’s strategic evolution. His role has been pivotal in the rebrand and the firm’s ongoing transformation.

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