Fintech

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Gensler says AI holds promise, peril for financial advice
YOUR PRACTICE FINTECH JUL 17, 2023
Gensler says AI holds promise, peril for financial advice

The SEC chair calls AI 'the most transformative technology of our time,' but emphasizes the agency's focus on fraud.

By Mark Schoeff Jr.
Make or break earnings season for $10 trillion global stocks rally
YOUR PRACTICE FINTECH JUL 17, 2023
Make or break earnings season for $10 trillion global stocks rally

Will companies live up to the expectations of investors or will the rally screech to a halt as results are revealed?

By Bloomberg
AI can expose 'very real' ESG risks, says UBS exec
YOUR PRACTICE FINTECH JUL 14, 2023
AI can expose 'very real' ESG risks, says UBS exec

For example, artificial intelligence could help with the threat of deforestation by tracking 'land use change and geospatial mapping.'

By Bloomberg
Charles Schwab announces TD Ameritrade data breach
YOUR PRACTICE FINTECH JUL 14, 2023
Charles Schwab announces TD Ameritrade data breach

Tens of thousands of clients could have been affected by huge attack resulting from vulnerabilities found in MOVEit file transfer software.

By Matthew Sellers
Investors open to using ChatGPT to pick their investment portfolios
YOUR PRACTICE FINTECH JUL 14, 2023
Investors open to using ChatGPT to pick their investment portfolios

Survey reveals that a significant share of respondents believe AI can do a better job of choosing equities than they can.

By Steve Randall
InvestCloud names Heather Bellini president and chief financial officer
YOUR PRACTICE FINTECH JUL 11, 2023
InvestCloud names Heather Bellini president and chief financial officer

Bellini will oversee finance, legal, HR and business operations at the company, which is rebuilding executive leadership after a spring shakeup.

By Ryan W. Neal
Amid volatility, tech that proves an advisor's value will thrive
YOUR PRACTICE FINTECH JUL 11, 2023
Amid volatility, tech that proves an advisor's value will thrive

There's new pressure on advisors to clearly demonstrate the value they deliver to clients, and technology will play a key role.

By Ryan W. Neal
The latest in financial #AdvisorTech — July 2023
YOUR PRACTICE FINTECH JUL 10, 2023
The latest in financial #AdvisorTech — July 2023

This month's highlights include Pershing X's launch of Wove, Blueleaf's 'aggregation-as-a-service' solution, and Nitrogen's new set of firmwide data analytics capabilities.

By Michael Kitces and Ben Henry-Moreland
Regulators likely to take wait-and-see approach on AI
YOUR PRACTICE FINTECH JUL 10, 2023
Regulators likely to take wait-and-see approach on AI

The SEC is working on proposed rules related to artificial intelligence and other technologies, and Senate Majority Leader Chuck Schumer has announced a framework for AI legislation.

By Mark Schoeff Jr.
AI arrives on Wall Street
YOUR PRACTICE FINTECH JUL 10, 2023
AI arrives on Wall Street

Morgan Stanley and JPMorgan seize the initiative, while smaller firms grapple with a lack of standardized data.

By Ryan W. Neal
Advisors jumping onto Threads could create compliance headaches
YOUR PRACTICE FINTECH JUL 07, 2023
Advisors jumping onto Threads could create compliance headaches

Currently Threads lacks many of the features that are standard on other social media platforms, such as direct messaging and feed curation.

By Ryan W. Neal
Advisors use fintech frequently but which ones and why?
YOUR PRACTICE FINTECH JUL 06, 2023
Advisors use fintech frequently but which ones and why?

Trading and portfolio rebalancing are among the most popular types of technology among advisors, but which providers are their favorite and what determines satisfaction?

By Steve Randall
AI scams contribute to rise in investment fraud
YOUR PRACTICE FINTECH JUL 03, 2023
AI scams contribute to rise in investment fraud

A record $3.82 billion was stolen through investment fraud in 2022, a 128% increase over the previous year.

By Ryan W. Neal
Carson Group parts ways with its first chief technology officer
YOUR PRACTICE RIAS JUN 29, 2023
Carson Group parts ways with its first chief technology officer

Nimesh Patel was named to the firm's newly created CTO position in February 2022.

By Ryan W. Neal
MaxMyInterest partners with eMoney to give planners access to high-yield cash accounts
YOUR PRACTICE FINTECH JUN 28, 2023
MaxMyInterest partners with eMoney to give planners access to high-yield cash accounts

MaxMyInterest's services will be available to more than 100,000 advisors using eMoney.

By Ryan W. Neal
SEC fines JPMorgan $4 million for deleting electronic communications
YOUR PRACTICE FINTECH JUN 22, 2023
SEC fines JPMorgan $4 million for deleting electronic communications

A vendor improperly destroyed 47 million electronic communications, including emails and instant messages, from 8,700 inboxes.

By Mark Schoeff Jr.
Alternativ raises $10 million as digitally native RIAs pick up steam
YOUR PRACTICE RIAS JUN 21, 2023
Alternativ raises $10 million as digitally native RIAs pick up steam

The funding will be used to continue developing the firm's technology and to grow its RIA, Alternativ Wealth, through acquisitions.

By Ryan W. Neal
AI: It’s more personal than you think
YOUR PRACTICE OPINION JUN 21, 2023
AI: It’s more personal than you think

Artificial intelligence stands to positively impact advisory firms' relationships with their clients by fostering more personalized experiences.

By Nick Graham
Finra warns brokerages to pay attention to rising cybersecurity threats
YOUR PRACTICE FINTECH JUN 20, 2023
Finra warns brokerages to pay attention to rising cybersecurity threats

The broker-dealer self-regulator highlighted a recent government advisory about a ransomware attack and told member firms to brush up on Finra's guidance on the topic from last December.

By Mark Schoeff Jr.
Twitter struggles to match engagement found on other networks, study finds
YOUR PRACTICE FINTECH JUN 16, 2023
Twitter struggles to match engagement found on other networks, study finds

For advisors, LinkedIn and Facebook were far better for generating interactions than Twitter.

By Ryan W. Neal