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Robo-advisers struggling to retain investors in 2022, research finds
The use of robo-advisers fell from 27.7% of US investors in 2021 to 20.9% this year, according to research from Parameter Insights.
Merrill launches matchmaking service to connect investors and advisers
The firm is positioning Merrill Advisor Match as a modern solution for investors who are looking for financial advice.
Morgan Stanley brings robo-adviser under the ETrade brand name
Morgan Stanley will stop making the robo, Access Investing, available to new clients in December.
SEC fines Kim Kardashian $1.26 million for endorsing crypto token on Instagram
The securities watchdog said she broke US rules by not disclosing she was paid for the promotion.
Fintech app Yotta rolls out feature that helps investors buy Treasury I bonds
I-Bonds Bucket allows users to invest in the securities while bypassing the glitchy TreasuryDirect.gov website.
Retail investors grow weary of cryptocurrency as institutional interest grows
Only 21% of Americans feel comfortable investing in cryptocurrencies, down from 35% in 2021.
GeoWealth expands cast of available managers
Chicago-based TAMP also launches investment consulting service for advisers who want to completely outsource portfolio and UMA construction while retaining their brand.
Wall Street banks hire WhatsApp cops after being hit with big fines
In court documents, the SEC described at least a few senior managers at each firm who engaged in rampant texting with colleagues and clients.
Wall Street firms hit with $2 billion in fines in WhatsApp probe
The penalties levied against firms including Citigroup, Bank of America and Goldman Sachs constitute the largest-ever penalties against US banks for record-keeping lapses.
Cathie Wood launches new venture fund on robo-adviser Titan Invest
The fund requires a $500 minimum investment and charges a management fee of 2.75%, with a total expense ratio estimated at 4.22%.
Wall Street firms seen paying historic fine to settle WhatsApp probe
The results of the investigation could be released as soon as Wednesday and could see regulators extracting total fines of around $2 billion.
How digital platforms can be more accessible to minority investors
Research uncovered three ways that investing platforms can foster a more inclusive and accessible environment for those living on a low to moderate income.
TAMPs race to build comprehensive wealth management platforms
After years of consolidation, the platforms that solve the puzzle could win future advisers and their assets. The ones that don’t may find themselves acquired.
Fintech Bytes: Fidelity integrates with Salesforce; RightCapital launched new tool
Here's a roundup of some of the adviser fintech news you may have missed this week.
After Wealthfront, UBS dusts off plan to stress banking, tech and productivity
It's back to an 'organic plan' for the bank's wealth management business in the United States, says Iqbal Khan, co-president of UBS Global Wealth Management.
Morgan Stanley hit with $35 million SEC fine over data security
When the bank replaced hard drives and servers, it improperly disposed of thousands of devices, compromising the personal data of about 15 million clients.
The latest in financial #AdviserTech — September 2022
VRGL's $15 million Series A round, FMG's acquisition of Vestorly, Farther's funding round and Orion's partnership with Apex Clearing are among the highlights of this month's roundup.
Ethic raises $50 million in Series C round
UBS participated in the funding round for the provider of direct indexing, which oversees more than $2 billion in assets.
Marstone is offering its TAMP to community banks
North Carolina’s Bank of Oak Ridge will use Marstone’s platform combined with advice from Detalus Advisors.
Voya launches holistic platform for plan participants
The digital platform, myVoyage, integrates account balances in defined-contribution retirement plans with guidance and information about external accounts.
