Which are the top new tech solutions for investment professionals?

Which are the top new tech solutions for investment professionals?
InvestmentNews' inaugural report showcases some of the best new portfolio management systems, retirement income planning solutions, and compliance tools.
NOV 19, 2024

There's no denying it: for better or worse, the fates and fortunes of the technology and wealth management industries have become tightly intertwined.

With a multi-trillion dollar transfer of wealth happening over the next few decades, firms and advisors are pulling out all the stops to catch the wave. Foremost and fundamentally, that means earning clients' trust, which isn't as easy as it was in decades past.

From safeguarding and managing investment assets, to keeping on the right side of regulation, and even helping plan for inevitable turbulence in life and in markets, there's no denying that the business of being clients' financial stewards has become more complicated. And in an industry beset with challenges on every front, the market opportunity for top-caliber tech providers is very rich.

With that in mind, InvestmentNews went on a search for the firms behind the Best New Technology and Software for Investment Management Professionals. From a fierce field of competition, the people behind the process selected those who introduced new technologies and software for financial advisors and firms in the past 24 months, then did a deep objective dive to find paragons of true innovation who provided genuine benefits to the industry.

“As advisors’ needs become more complex, they simultaneously demand the ability to execute these more complicated transactions in an intuitive and scalable way," says Rob Battista, head of advisory solutions at Vestmark. "This presents tremendous opportunities for solution providers willing to take risks on the leading edge of innovation."

Vestmark is among the firms recognized on InvestmentNews' New Technology Report, which includes wealth tech companies across the spectrum of portfolio management, compliance systems, CRM software, custodial platforms, financial planning software and beyond.

According to research by Cerulli, 30 percent of advisors who are heavy tech users end up with higher growth in terms of new client acquisition in three years, compared to just nine percent of light users. That insight tracks for Sheryl O'Connor, one of the co-founders at retirement income tech firm IncomeConductor.

"Advisors close prospects faster because they’re engaging the client right in the first meeting with the plan," O'Connor says. "We find that planning time has been cut down significantly because of this partnership, so they don’t have to go through multiple meetings."

Vestmark, which offers a portfolio management solution for firms, has also helped advisors buy back previous time in their days and larger calendars with its single custody account capability.

"Given the lag in time between cash being moved and being visible in a trading platform, doing all of this in a single account leads to faster, near real-time trading capabilities,” says Battista.

Among the winning fintech solutions, InvestmentNews' inaugural New Technolgoy Report 2024 is casting the spotlight on:

To see the full report and the whole list of this year's winners, click here.

 

Latest News

Northern Trust names new West Region president for wealth
Northern Trust names new West Region president for wealth

The new regional leader brings nearly 25 years of experience as the firm seeks to tap a complex and evolving market.

Capital Group extends retirement plan services further with a focus on advisors
Capital Group extends retirement plan services further with a focus on advisors

The latest updates to its recordkeeping platform, including a solution originally developed for one large 20,000-advisor client, take aim at the small to medium-sized business space.

Supreme Court slaps down challenge to IRS summons for Coinbase user data
Supreme Court slaps down challenge to IRS summons for Coinbase user data

Crypto investor argues the federal agency's probe, upheld by a federal appeals court, would "strip millions of Americans of meaningful privacy protections."

Houston-based RIA Americana Partners adds $1B+ with former Morgan Stanley director
Houston-based RIA Americana Partners adds $1B+ with former Morgan Stanley director

Meanwhile in Chicago, the wirehouse also lost another $454 million team as a group of defectors moved to Wells Fargo.

Edward Jones to bring overlay management in-house with Natixis deal
Edward Jones to bring overlay management in-house with Natixis deal

The broker-dealer giant's latest acquisition agreement extends its push towards offering enhanced financial planning and investment management.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.