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.
As Goldman Sachs tightens rules on event contract trading, RIAs and hedge funds are weighing their own policies
Meanwhile, Wells Fargo lures defectors from UBS and JPMorgan to expand in the East Coast, while another bank aligns itself with RayJay's financial institutions division.
New research suggests AI-exposed workers over 55 are leaving jobs more often than before ChatGPT’s rise.
Agentic AI is landing in trading, treasury and wealth management roles across major banks, with advisory functions as the next frontier.
Wells Fargo affiliate and women-focused wealth firm both promote leadership as they scale advisor support.
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
