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Morgan Stanley fines bankers over $1 million each for using unapproved messaging platforms
The firm is the latest bank to require individual staff to bear some of the burden of an unprecedented regulatory investigation.
Broadridge adds ESG comparison service
The data, which is aggregated to artificial intelligence, cover more than 5,000 North American companies across 385 ESG topics.
Advisor CRM founder Ken Golding dies at 62
Golding founded Junxure with his partner, Greg Friedman, in 2001 as a CRM specifically designed to serve financial advisors.
Schwab sees increasing tech adoption among RIAs
According to data collected from 14,000 RIAs, 80% are using digital client onboarding tools.
New software aims to reduce risk in target-date funds
Soteria blends personalized safe-landing target-date fund glide paths with the personalization of managed accounts.
Fintech Bytes: Broadridge extends Canadian partnership; startup attracts funding from advisors
Plus First Rate, a Texas-based provider of wealth management technology, has acquired Finantech SpA, a Santiago, Chile-based reporting fintech.
FNZ acquires YieldX to accelerate US growth
YieldX’s technology will be integrated into FNZ’s existing product to enable advisors to scan the universe of fixed-income securities.
DriveWealth CEO departs after eight months
Founder Bob Cortright is stepping back in as global CEO of the digital custody and clearing firm upon the exit of Terry Angelos.
Principal partners with YieldX, Smartleaf on fixed-income direct indexing
Other direct indexing products have avoided the fixed-income space because it has a different liquidity profile and requires going directly to dealers.
Zoe Financial referral program evolves into one-stop practice management platform
The Zoe Wealth Platform charges a fee based on advisory assets for everything an RIA needs to work with clients.
Beware of breaching your fiduciary obligations related to client data
The industry has focused almost exclusively on cybersecurity controls over the past few years, instead of understanding what their core obligations and fiduciary responsibilities are for client data.
The AI revolution is here
Can ChatGPT give good financial advice? InvestmentNews fed the algorithm questions to see how its AI stacks up.
The latest in financial #AdvisorTech — January 2023
This month’s highlights include Envestnet’s entering the RIA custodial business and Docupace’s launch of an RIA Productivity Toolkit.
Fintech Bytes: Riskalyze lands AE Wealth; 55ip partners with Frontier; Advisor360 acquires wealthtech
Plus Brad Weber gets Savvy, iCapital adds 100 to its tech team, and Richr launches an advisory service.
Move past fintech buzzwords toward a proactive wealth management future
The industry absolutely loves these terms, but jargon obfuscates, intentionally or not, what the product actually does.
Vestwell teaming up with Carson Group to expand retirement offering
Vestwell will provide a small business component for Carson Group’s Complete 401(k) offering that will allow advisors to better scale their small-and-midsize business retirement plan practices.
MoneyGuide founder Tony Leal departing leadership role at Envestnet
Rose Palazzo, currently the head of MoneyGuide, will assume Leal's duties as group president of Envestnet Financial Planning.
White-label robo TradingFront terminates US operations
The decision comes as the company's owner, Tiger Brokers, faces accusations of violating Chinese securities laws.
Growth or flexibility? Fintechs must choose
Fintechs may find themselves mimicking some of the same strategies advisors use to demonstrate the value they bring to clients during difficult markets.
Tom Naratil one of four nominees to Envestnet board in escalating proxy contest
Instead of a single seat on the company's board, activist investor Impactive Capital is now seeking more significant change.
