Results for "Michael Kitces #FinTech"

Sep 13, 2019

The latest in financial adviser fintech — September 2019

By Michael Kitces

Welcome to the September 2019 issue of the Latest News in Financial Advisor #FinTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors and wealth management!This month's edition kicks off with the news that Wealthfront is acquiring financial planning monthly subscription startup Grove… but as part of the deal, is selling off all of Grove's clients to Facet Wealth, leaving the industry wondering whether Wealthfront is about to pivot into the monthly subscription model to mimic their competitor Schwab Intelligent Portfolios, wanted Grove's financial planning technology to expand Wealthfront's own Path financial planning software, or simply wanted to "acquihire" the Grove technology and product talent to advance Wealthfront's own mission. And raising concerns about why Grove, which just last year raised an $8M... Read full post

Aug 13, 2019

The latest in financial adviser fintech — August 2019

By Michael Kitces

Welcome to the August 2019 issue of the Latest News in Financial Advisor #FinTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors and wealth management!This month's edition kicks off with the announcement that Orion Advisor Services is acquiring newcomer financial planning software maker Advizr for a whopping $50M (on a revenue base of only $3M), and will almost immediately begin offering it for free to Orion users as a way to make the Orion client experience more financial planning centric … but in the process, creating potential client experience and workflow conflicts for planning-centric advisory firms already using other third-party financial planning software tools.From there, the latest highlights also include a number of other interesting advisor technology announcements, including:• Independent... Read full post

Jul 12, 2019

Michael Kitces: The latest in financial adviser fintech — July 2019

By Michael Kitces

Welcome to the July 2019 issue of the Latest News in Financial Advisor #FinTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors and wealth management!This month's edition kicks off with the announcement that Fidelity is launching a new Managed Account XChange (FMAX), in what appears to be a shift in the Fidelity business model to capture the ongoing advisor shift from internal portfolio construction to outsourced third-party managers and models, and also a re-positioning of Fidelity itself to compete more directly with Envestnet's own manager marketplace in the future.From there, the latest highlights also include a number of other interesting advisor technology announcements, including:• Envestnet putting its own Insurance Exchange into full production, with the potential to finally catalyze growth of fee-... Read full post

Jun 10, 2019

Michael Kitces: The latest in financial adviser fintech — June 2019

By Michael Kitces

Welcome to the June 2019 issue of the Latest News in Financial Advisor #FinTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors and wealth management!This month's edition kicks off with the news that Vanguard is apparently working on a new "technology" platform for advisors – adapted from its own Personal Advisor Services solution – that, at a minimum, appears to be a form of robo-advisor-for-advisors offering, and may even be an entire RIA custodial platform to compete with the likes of Schwab, Fidelity, TD Ameritrade, and Pershing… and potentially force the other custodians to stop charging more for Vanguard (and DFA) trades and instead reconfigure their own custodial business models to be better aligned with the advisors they serve?From there, the latest highlights also include a number of... Read full post

May 24, 2019

Michael Kitces: The latest in financial adviser fintech — May 2019

By Michael Kitces

Welcome to the May 2019 issue of the Latest News in Financial Advisor #FinTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors and wealth management!This month's edition kicks off with the news that Schwab's PortfolioConnect is now available – for free – to all RIAs on its platform. Thus far, PortfolioConnect is a downscale portfolio performance reporting system that is meant to appeal to "smaller" RIAs, with less than $100M of AUM, for whom the other performance reporting tools may be too costly and who may be attracted to the Schwab platform for the potential cost savings of a free alternative. But the real question is what happens if and when Schwab adds more features to PortfolioConnect and it becomes a more head-to-head competitive offering to the likes of Orion and Black Diamond … but... Read full post

Apr 18, 2019

Michael Kitces: The latest in financial adviser fintech — April 2019

By Michael Kitces

Welcome to the April 2019 issue of the Latest News in Financial Advisor #FinTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors and wealth management!This month's edition kicks off with the blockbuster deal of the decade in advisor technology: Envestnet acquiring MoneyGuidePro for a whopping half a billion dollars, or nearly 10X its forward revenues… though ultimately, the purchase may not merely be a testament to Envestnet's expectations for growing MoneyGuidePro's software revenue, but the potential to link its new Insurance Exchange to MGP as a means to facilitate the distribution of fee-based insurance and annuity products to independent advisors through the software as well.From there, the latest highlights also include a number of interesting advisor technology announcements, including:• Schwab... Read full post

Mar 7, 2019

Michael Kitces: The latest in financial adviser fintech — March 2019

By Michael Kitces

Welcome to the March 2019 issue of the Latest News in Financial Advisor #FinTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisers and wealth management!This month's edition kicks off with the mega-news that Envestnet has acquired PortfolioCenter from Schwab, and in the process, has stirred up a feeding frenzy of what may be once-in-a-lifetime deals as all the major portfolio performance reporting solutions compete for the nearly 2,000 legacy PortfolioCenter users that are now in transition.From there, the latest highlights also include a number of interesting adviser technology announcements, including:• Commonwealth spins off its proprietary broker-dealer operating system and adviser tools into a standalone entity, Advisor360, and then promptly licenses it out to MassMutual's 9,000 brokers• Cetera stakes... Read full post

3:18 pm EST

Michael Kitces: The latest in financial adviser fintech — February 2019

By Michael Kitces

Welcome to the February 2019 issue of the Latest News in Financial Advisor #FinTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors and wealth management!This month's edition kicks off with the big news that eMoney Advisor founder Edmond Walters is back, with a new financial planning software competitor… but one targeting an entirely different (ultra-high-net-worth) clientele than traditional financial planning tools, such that MoneyGuidePro and Envestnet (owner of FinanceLogix) have actually partnered with Walters' new Apprise Labs to develop the solution (aptly named "MoneyLogixPro").From there, the latest highlights also include a number of interesting advisor technology announcements, including:• RightCapital raises a $3.7M Series A round to scale its competition with MoneyGuidePro, eMoney Advisor,... Read full post

Jan 16, 2019

Michael Kitces: The latest in financial adviser fintech — January 2019

By Michael Kitces

Welcome to the January 2019 issue of the Latest News in Financial Advisor #FinTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors and wealth management!This month's edition kicks off with the big news that Blackrock is partnering with Microsoft as it doubles down (or triples down as taking $100M+ stakes in both FutureAdvisor and Envestnet!?) on its strategy of using technology as a distribution channel for its iShares ETFs (and possibly a new next-generation fee-based annuity as well)?From there, the latest highlights also include a number of interesting advisor technology announcements, including:• TD Ameritrade rolls out a new account-opening API as RIA custodians slowly but steadily try to match the capabilities of retail robo-advisors.• LPL acquires AdvisoryWorld for $28M to be its ClientWorks core... Read full post

Dec 7, 2018

Michael Kitces: The latest in financial adviser fintech — December 2018

By Michael Kitces

Welcome to the December 2018 issue of the Latest News in Financial Advisor #FinTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors and wealth management!This month's edition kicks off with the big news that Blackrock is taking a whopping $123M stake in Envestnet as the company doubles down on the strategy of using technology as a distribution channel after its $150M acquisition of FutureAdvisor just 3 years ago … and raising the question of both what other asset managers may acquire FinTech companies for distribution in the coming years, and what Envestnet itself may invest into and acquire with its newfound cash.From there, the latest highlights also include a number of interesting advisor technology announcements, including:• E*Trade ramps up its competitive push into the (large) RIA custodial space... Read full post

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