The Latest In Financial #AdvisorTech (March 2021)

The Latest In Financial #AdvisorTech (March 2021)

Happy New Year, and welcome to the March 2021 issue of the Latest News in Financial #AdvisorTech – 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!

This month’s edition kicks off with the big news that Apex Clearing is ‘going public’ via a SPAC that will value the company at $4.7B, built primarily on the back of its success with ‘direct-to-consumer’ robo-advisor and investment platforms like Wealthfront and Robinhood, SoFi and Stash, Ally Invest and Public… but with an eye on pivoting further into the world of RIAs by no longer just trying to partner with existing AdvisorTech platforms to reach RIAs and instead using its massive new $850M cash infusion to build out its service and support capabilities to compete more directly head-to-head with Schwabitrade, Fidelity, and Pershing instead?

From there, the latest highlights also feature a number of other interesting advisor technology announcements, including:

– RIA custodians increasingly look to gain basis points for custody services by pairing them with asset management as Betterment For Advisors and Altruist both expand into the paired services of model-management-plus-custody

– SEI launches its own Direct Indexing solution while OSAM’s Canvas crosses $1B in Custom Indexing AUM in just its first year

– InvestCloud is acquired for $1B and merged with Tegra118 to modernize enterprise wealth management

– Envestnet’s MoneyGuide announces a new MoneyGuideEngine offering that will allow enterprises to leverage MoneyGuide’s underlying financial planning engine via APIs to build their own financial planning interfaces

Read the analysis of these announcements in this month’s column, and a discussion of more trends in advisor technology, including:

– InCapital and 280CapMarkets merge to launch a new bond trading marketplace, with a particular eye on the growth of market-linked products as a bond alternative

– RBC launches a new “Business Compass” dashboard to help its advisors actually manage their practices

– 4U Engage expands its RIA platform as technology continues to disintermediate the traditional external wholesaler for new product discovery

– Microsoft launches a new Cloud for Financial Services to compete with Salesforce by unifying an advisory firm’s internal productivity tools

And be certain to read to the end, where we have provided an update to our popular “Financial AdvisorTech Solutions Map” as well!

*And for #AdvisorTech companies who want to submit their tech announcements for consideration in future issues, please submit to [email protected]!

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