AlphaTrAI has announced a new president to help drive growth in its AI consulting and solutions business for the wealth and asset management industry.
Fintech innovator John Sweeney has over three decades of business, leadership, investment management, and digital assets experience, most recently as founder and managing partner of Momentum Capital Partners, providing consulting and advisory services to global financial services firms, FinTech start-ups and private equity firms.
Sweeney was previously chief operating officer at Osprey Funds, known for its digital asset products, including NFTs. Before that he was with fintech unicorn Figure Technologies as head of wealth and asset management.
He started his career with more traditional investment products though, heading up various divisions of Fidelity Investments during a 19-year tenure, including a team that developed the firm’s first exchange-traded fund, separately managed accounts and unified managed accounts.
"John's deep expertise in technology, broad competencies in the wealth management space and understanding of the challenges and opportunities of entrepreneurship and consulting make him the perfect addition to our team," said AlphaTrAI CEO and chairman Bill Dwyer, who recently joined the firm after having been a key player in LPL Financial’s success. "As the wealth and asset management industry sees the expanding value that AI, blockchain and other technologies bring to the table, having a leader so well-versed in these areas is a true differentiator for us. John's a guy who has done it all and, frankly, he had his pick of options. That he chose to come work with us speaks to the value proposition we're offering, the team we're building and the results we're driving."
The firm’s strategic vision is to drive automation and efficiency into wealth and asset management, an attractive proposition for Sweeney.
"I've enjoyed a dynamic professional career that has incorporated emerging technologies to drive better customer experiences, operational efficiencies and investment outcomes," Sweeney said. “I’ve been watching Bill and his team at AlphaTrAI do extraordinary things at the intersection of AI and financial services. To find myself leading this team of brilliant scientists, innovative technicians and business visionaries is truly energizing. We're breaking ground, pushing barriers and embarking on a new frontier in the financial services space."
Survey reveals a majority consensus of just three reductions next year, even counting Trump's prospective tax and tariff policies, as progress on inflation slows.
The settlement, stemming from accusations of underperforming Wells Fargo target-date fund investments affecting some 300,000 plan participants, is considered among the largest of its kind.
Western International Securities was acquired by LPL this year.
David Fulton, the RIA giant's decade-long chief executive, is stepping down to be replaced by president Bradley Knapp on Jan. 1 as part of a planned transition.
The firms are extending their footprints with new recruitment moves in Arizona, Massachusetts, and Florida.
Financial advisors who come to the profession later in life have experiences that can help them connect with clients, said the founder of a group that trains career changers.
"The profitability of the CLO is going to be very attractive," said CIO at Flat Rock Global.
