AssetMark ended the month of May with $96.4 billion in assets on its turnkey asset management platform, up 10.9% year over year.
Its purchase of Oakbrook Solutions creates a combined firm that has more than 100 employees and serves clients representing a combined $2.5 trillion in AUM.
The fundraising was led by Motive Ventures, the venture capital arm of Motive Partners.
The technology is increasingly seen as table stakes for firms supporting financial advisors.
The Investment Adviser Association and SIFMA say a proposed 30-day requirement is too short. But Better Markets says it should be shortened to 14 days.
Wealthfront says its portfolio uses a mix of Treasury and corporate bond ETFs and can achieve an annual return of 5.48% after its 0.25% fee.
Marc Greenberg most recently worked at Blend, a white-label fintech that banks use to build consumer-facing digital products.
The multicustodial open architecture platform promises to connect the various applications advisors use to service clients.
BondGPT, which uses OpenAI technology to help power its bond analytics, will help traders find more liquid bonds at a better price.
Both CellTrust and ionLake provide compliant text messaging and archiving for advisors. CellTrust accused ionLake of violating its patents, but the jury disagreed.
Kristie Edling-Day will oversee digital experience for advisors, while Nitesah Ambastha will lead technology for investors.
Banks' interest is growing in the evolving technology of artificial intelligence and its likely impact on their business.
Protecting investors from fraudulent, misleading or otherwise problematic electronic communications seems to be of the utmost importance to regulators.
The acquisition is the latest in a string of deals for UK-based Smart, including its purchase last year of Stadion Money Management.
Fidelity's alts platform, which launched in 2013, has seen assets grow by 70% since 2020.
As interest in artificial intelligence grows, it's worth looking under the hood of sector ETFs.
Richard Lumb says that while InvestCloud is growing, a different set of skills are needed to take it to the next level.
Social Security and account numbers were compromised in a phishing attack, but accounts were not accessed, according to the firm.
The breach involved 'a systems intrusion' at R.R. Donnelley, a third-party vendor that Advisor Group uses for some of its client mailings.
'ESG funds are not the next great innovation,’ Tim Buckley said at an Investment Company Institute conference. 'They’re a client preference, and we need to treat it as such.'
