Results for "Michael Kitces #FinTech"

Nov 12, 2018

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

By Michael Kitces

Welcome to the November 2018 issue of the Latest News in Financial Adviser #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 big news that Fidelity has rolled out a new open architecture marketplace aptly called Integration XChange, in what is both a major shift for the RIA custodian towards a more open architecture, a substantial potential threat to TD Ameritrade's marketplace differentiator, a huge new opportunity for FinTech upstarts to have a second go-to-market channel for RIAs besides Veo, and a creative way to feed Fidelity's new Consolidated Data initiative.From there, the latest highlights also include a number of interesting adviser technology announcements, including:• Riskalyze rolls out a new "GPA" scoring system to evaluate how... Read full post

Oct 3, 2018

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

By Michael Kitces

Welcome to the October 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 advisers and wealth management!This month's edition kicks off with the big news that private equity firm Warburg Pincus is investing a whopping $33M into Facet Wealth, a new advisory firm upstart that aims not to build "robo" tools to compete with advisory firms, but a tech-savvy adviser platform to service "smaller" mass affluent clientele that they buy from existing advisory firms who may want to sell a portion of their book of clients to free up space (and/or to generate additional capital) to grow further upmarket. At least, if the clients will actually be willing to convert from an in-person adviser to one of Facet's virtual CFP professionals, and from an industry-standard AUM fee to... Read full post

Sep 5, 2018

Michael Kitces: The Latest In Financial Adviser FinTech — September 2018

By Michael Kitces

Welcome to the September 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 from Schwab that, after years of promising that it is working on a next-generation multicustodial replacement to PortfolioCenter, the new PortfolioConnect solution will only work directly with the Schwab custodial platform… but will be more deeply integrated, and more importantly free to Schwab advisors, in what could become a major inducement to advisory firms to join or consolidate with Schwab given that portfolio accounting software is the most expensive line item in most RIAs' technology budgets. In the meantime, for those who want to remain multicustodial, Schwab noted that PortfolioCenter will also be... Read full post

Aug 7, 2018

Michael Kitces on the fate of robos, Yelp help and recent fintech competitions, products

By Michael Kitces

Welcome to the August 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 advisers and wealth management!This month's edition kicks off with the big news that, after years of warning that robo-adviser growth rates were slowing and seeing many high-profile robo-advisers pivot to become B2B solutions for advisers, some of them are beginning to outright shut down, with early robo-adviser Hedgeable (founded in 2009) withdrawing its investment adviser registration to manage portfolios as its founders move on to new blockchain endeavors, and WorthFM permanently terminating, as its related DailyWorth media site is sold (without the WorthFM robo-adviser attached) to personal finance media personality Jean Chatzky.From there, the latest highlights also include a number of... Read full post

Jul 2, 2018

Michael Kitces: The Latest In Financial Advisor FinTech — July 2018

By Michael Kitces

Welcome to the July 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 robo-advisor-turned-enterprise-digital-advice platform SigFig has raised a whopping new $50M round from famous VC firm General Atlantic, while U.S. Bank announced that it has (finally) deployed its "Automated Investor" robo solution via FutureAdvisor, and Fifth-Third Bank is rolling out its OptiFi digital advice offering (a white-labeled version of Fidelity's AMP). Which means, after years of buzz, the shift from B2B to B2B2C robo-advisor technology appears to finally be gaining traction, as the startups figure out how to attach next generation modern technology to prior-generation legacy software of the incumbents,... Read full post

Jun 12, 2018

Michael Kitces: The Latest In Financial Advisor FinTech — June 2018

By Michael Kitces

Welcome to the June 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 buzz from the Envestnet Advisor Summit… that Envestnet is shifting from a focus on investment management, financial planning, and wealth management, towards a new category it calls "Financial Wellness." Which is not meant to be the employer-delivered-financial-education version of a Financial Wellness program, but a more holistic adviser technology platform aiming to cover all of the relevant areas of a client's financial health, including not only planning, investments, and insurance (protection), but also credit/debt, and budgeting/cash flow as well. Which leaves Envestnet incredibly well positioned for the ongoing shift ... Read full post

May 18, 2018

The Latest in Financial Adviser #FinTech (May 2018)

By Michael Kitces

Welcome to the May 2018 issue of the Latest News in Financial Adviser #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 big news that private equity firm Hellman & Friedman is purchasing Financial Engines for a whopping $3 billion in cash, and intends to pair what many call the "original robo-adviser" together with (also-Hellman-owned) Edelman Financial, in an effort to expand Financial Engines' services to 401(k) plan participants to include human comprehensive financial planners. Which is notable both that major investors now see the upside of "robo" platforms as expanding them back into human advisers, and also because if it works it could dramatically alter the landscape for 401(k) rollovers by making those assets "advised" by a comprehensive... Read full post

Apr 4, 2018

The Latest In Financial Advisor #FinTech

By Michael Kitces

Welcome to the April 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 former Envestnet executive Lori Hardwick is joining Riskalyze's Board of Directors, almost 2 years to the day after she left Envestnet (and the end of a likely-2-year non-compete requirement!?), and just as Riskalyze increasingly pivots towards a more holistic advisor platform that puts it on competitive collision course with Envestnet itself… especially if Riskalyze is paired with the next generation advisor dashboard that Hardwick's own start-up AI (Advisor Innovation) Labs is reportedly creating?From there, the latest highlights also include a number of interesting advisor technology announcements,... Read full post

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