Advisor Tech Talk (6/23/21)


By: Gerelyn Terzo 

The summer doldrums may be upon us but not the wealthtech space, where activity is bustling. Advisor tech firms are busy building, strengthening their offerings and adapting to a changing financial advisor landscape. Let’s find out more. 

  • Envestnet | Yodlee: Data aggregator and analytics platform Envestnet | Yodlee has introduced a new Developer Portal to speed up the process for developers to build fintech apps. In the last 12-month period, Envestnet | Yodlee has experienced robust growth of 1,500% on its platform from financial service providers including fintechs. The new portal enhances customer onboarding, navigation, financial data access, all of which accelerates the time to market for new apps. 
  • Herbers & Company: Austin, Texas-based business consultancy firm Herbers & Company has introduced the Academy mobile app with a view to bolster the growth of financial advisory firms in countries around the world. The Herbers & Company Academy app is supported by desktop as well as the iOS and Google apps. Academy gives financial advisors access to training programs, tools and insights through desktop and mobile and allows them to engage with Herbers’ senior consulting team, among other features. The Academy app is accessible via a subscription fee.
  • KND Systems: Michigan-based computer software consulting firm to wealth managers KND Systems has teamed up with Sage, a business management software firm dedicated to the cloud, in a partnership designed to capture a bigger piece of the cloud-based solutions pie. For its part, KND will “sell, implement, support and develop enhancements for the Sage Intacct cloud financial management system,” according to the announcement. Clients will gain access to on demand financial management. 
  • Orion:  Omaha, Neb.-based Orion Advisor Solutions has introduced a 3D Risk Profile. The new feature paves the way for Orion’s risk-tolerance questionnaire (RTQ) to reflect a composure layer on top of the more traditional tolerance and capacity components. With the roll-out, Orion is harnessing academic research and behavioral psychology for financial advisors to use as part of their toolbox with the aim of providing better service and gaining greater insight into clients’ needs. The 3D Risk Profile will also help advisors to identify the “emotions and triggers” that can wreak havoc on an investment portfolio.
  • Riskalyze: Risk alignment and portfolio analytics firm Riskalyze and Right Capital, a financial planning tool, have strengthened their partnership to give financial advisors cross-platform access to their offerings. As a result of the bolstered integration, financial advisors will have access to a more streamlined workflow on their desktops, noted Riskalyze CEO Aaron Klein in the announcement. In particular, RightCapital users will gain access to the model portfolios on the Riskalyze platform boasting the Risk Number trademark. Advisors can also “import position-level account data into their RightCapital financial plans.” 
  • SEI: Oaks, Penn.-based SEI has overhauled its Independent Advisor Solutions with the aim to deliver long-term growth to advisers as well as the firm in the midst of a changing industry and an evolving investor landscape.  SEI has combined technology, investment nimbleness and practice management into one offering that is supported by its own members to help meet the needs of financial advisors. Along these lines, SEI grew its management team by half-a-dozen members.