The Latest In Financial #AdvisorTech (June 2022)

The Latest In Financial #AdvisorTech (June 2022)

Welcome to the June 2022 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 TIFIN has raised a new $109M Series D round at an eye-popping $842M valuation, with a vision that embedding investment recommendations and solutions directly into advisor technology can lead advisors to make purchases through TIFIN’s various applications, allowing TIFIN to get paid by asset managers for those asset flows.

Yet as was seen by the rise – and subsequent fall – of various robo-advisor-for-advisors solutions that attempted to offer similar kinds of model marketplaces for advisors, technology is not an “if you build it, they will come” solution in a world where the typical advisor changes a core system less than once per decade. Which means even if TIFIN is right about the long-term vision of “embedded finance”, it’s unclear whether their barely 3,000 current advisor users will even be able to gain material traction against Envestnet’s own embedded finance vision… and its 100,000 advisor head start.

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

  • Snappy Kraken acquires Advisor Websites to offer an even more unified advisor marketing solution that packages together the advisor’s website and the marketing funnels attached to it
  • Lumiant launches a new financial planning software solution that aims to supplement existing tools by providing a more engaging client portal specifically to better engage the non-financial spouse

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

  • Vanilla raises a $30M Series B round to power not just estate planning software for advisors but what appears to be a tech-enabled estate planning service that will help advisors implement advanced estate planning strategies with their ultra-HNW clients
  • FP Alpha launches a new ‘Estate Snapshot’ that, similar to Holistiplan’s Tax Summary, will scan a client’s estate planning documents uploaded by the advisor and provide an instant summary of the key details and potential planning opportunities

In the meantime, we’ve also made several updates to the beta version of our new Kitces AdvisorTech Directory, to make it even easier for financial advisors to look through the available advisor technology options to choose what’s right for them!

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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