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How to scale and avoid disclosure violations using automation
The ever-growing number of items that compliance officers and teams must monitor has made tracking regulatory compliance disclosures more complicated than ever.
Automatic e-delivery of investment documents gains bipartisan support
Legislation that would make electronic investor communication the default method for disclosures sends a message this year, but will have to be reintroduced next year.
Fintech challenged by market forces
While most adviser-facing fintechs were spared the pain felt across the wider technology landscape, not everyone escaped the year unscathed.
Fintech Bytes: STP acquires WealthSite, Docupace launches productivity tool kit
Plus Stifel turns to KX to enhance analytics and decision making, and digital insurance brokerage Modern Life unveils a new platform for advisers.
Social media finfluencers face charges in $114 million pump-and-dump scheme
The defendants allegedly disseminated false and misleading information to their collective 1.5 million Twitter followers to hype interest in certain securities while secretly planning to sell shares at artificially elevated prices, the DOJ charged.
Finra fines Edward Jones $1.1 million over bungled phone records
The firm used two locations to store phone records, which caused a confused response to Finra document requests in investigations, according to the regulator.
The latest in financial #AdviserTech — December 2022
This month’s highlights include Savvy Wealth’s $11 million funding round to enter the realm of tech-enabled RIAs, along with DPL Partners’ new adviser-matching solution and InvestCloud’s Advisor Connect solution.
5 biggest crypto hacks of 2022
The money pouring into digital assets has attracted the attention of criminals.
Apex partners with fintech to bring robo-advice to community banks, credit unions
Using Unifimoney's tech and Apex's custodial platform, community financial institutions can add digital wealth management to existing online banking services.
Morningstar adds Luma annuity technology to Advisor Workstation
The new annuity functionality will help advisers using Morningstar's workstations manage annuity transactions for their clients.
AdvisorFinder platform aims to put prospective clients in the driver’s seat
Entering the competitive space of client referral programs, AdvisorFinder faces the challenge of getting consumers to the site.
Fintech Bytes: Morgan Stanley at Work, Vestwell and Redtail updates
Additionally, BNY Mellon invests in a fixed-income fintech and Broadridge partners with IntraFi on securities-backed lending.
Robinhood goes after retirement dollars
The brokerage platform has launched Robinhood Retirement, which lets users open IRAs on its platform and matches 1% of their contributions.
3 new phishing attacks that will catch advisers off-guard
As more advisers work remotely and turn to messaging apps and social media to communicate, they’re exposing themselves to a higher risk of exploitation through impersonated and hijacked accounts.
Viewing robo-advice as an ally to human advice
Riskalyze's Aaron Klein embraces the Luddite position of not expecting technology to ever replace the human adviser.
Brokers, advisers fall short in protecting clients from identity theft
The SEC finds that some firms use generic compliance programs that aren't tailored to the particular hacking dangers their accounts face.
Fintech startup launched by financial advisers lands $2.7 million in funding
Seeds Investor, a software offering digital client assessment, automated portfolio construction and ongoing client engagement tools, has backing from funds linked to Stocktwits founder Howard Lindzon and Ritholtz Wealth Management.
Raymond James introduces data-driven actionable insights
The application, called ‘Opportunities,’ is intended to prompt adviser-client communication.
ACA Group acquires Advanced Regulatory Compliance
ARC, based in Beverly Hills, California, provides compliance solutions for registered investment advisory firms.
Fintech Bytes: RBC works with Salesforce, Wealthbox integrates with MaxMyInterest
A roundup of the week's top tech news, including MaxMyInterest integrating with Wealthbox, CapIntel's growth and Smarsh hiring new executives.
