Sanctuary Wealth is entering the next phase of its digital transformation strategy with the appointment of a seasoned tech industry leader from Envestnet.
The RIA aggregator announced Monday that it has welcomed Robert Coppola as its new chief technology officer.
Coppola, reporting to CEO Adam Malamed, will lead the development of new digital solutions and enhance Sanctuary's technology platform to support the growth of independent wealth management firms within the Sanctuary Wealth and tru Independence networks.
"The addition of Bob Coppola, a widely respected fintech leader in the wealth management space, to our leadership team underscores our strategy to align best-in-class technology solutions and expertise with our partner firms to fuel their growth and success," Malamed said in a statement.
Coppola joined Envestnet as CTO in 2020. There, he played a key role in developing fintech solutions that enabled W-2 employees to set up their own independent firms, allowing them to benefit more from the value of their businesses.
His extensive background includes managing complex initiatives and supporting growth across various organizations, from large corporations to startups. Prior to Envestnet, Coppola held technology leadership roles at Bloomberg, Thomson Reuters/Thomson Financial, and S&P Global.
"Sanctuary developed a tech stack that uses the latest digital solutions to drive efficiencies, improve client service, and accelerate advisor growth by listening to the feedback and creative thinking of some of the most sophisticated and elite advisors in the business," Coppola said.
In his new role, he will focus on emerging technologies like artificial intelligence, arming Sanctuary’s advisors with tools to improve client service, attract new clients, and grow their businesses more efficiently.
AI is also a point of focus at JPMorgan, which told attendees at its investor day that it will be providing AI training for all its new banking hires.
Aside from overseeing tech enhancements to the Sanctuary One TAMP, which offers access to over 600 asset management solutions, Coppola will spearhead the advancement of Sanctuary Open, an expansive fee-for-advice platform, and continue developing Haven, Sanctuary's advisor workstation that blends client service and business management.
"I am excited to build on Sanctuary's impressive tech foundation and reinforce our position as an industry-leading innovator,” he said.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
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
