Advisor Tech Talk: 1/18/22


The wealthtech space is already hitting on some major themes in 2022 including crypto, digital client acquisition, expansions, and direct indexing partnerships. Also, a Swiss tech innovation firm has revealed what investors really want when it comes to financial advisors. 

  • Advisor Internet Marketing: “Advisor Internet Marketing (AIM), the first fully digital-based financial marketing organization, announced they have entered into a strategic partnership with Advisors Excel. AIM is the first in the industry that specializes in providing digital client acquisition services to help independent financial advisors grow a profitable location-independent business with just an internet connection and a cell phone. AIM enables advisors to operate ‘virtual’ businesses that completely bypass traditional client acquisition methods, thereby eliminating the need to have a brick-and-mortar office, large staff, or in-person meetings with prospects and clients.”  
  • Fieldpoint Private: “Fieldpoint Private’s Advisor Banking Services platform represents a new model that will enable independent advisors to deliver truly holistic wealth management services encompassing a full suite of private banking offerings. Made possible by a recent partnership between Fieldpoint Private, Summit Financial Holdings and Merchant Investment Management, the platform is unique in the industry…Summit and Merchant will acquire the assets of Fieldpoint’s investment advisory unit, and Fieldpoint Private’s banking services will be delivered through Summit’s advisor services platform, SummitVantage. When the transition completes, Fieldpoint’s wealth management business will boost Summit to approximately $12 billion in assets.” 
  • Gemini: “Gemini announced the acquisition of BITRIA, formerly Blockchange Inc., a digital asset portfolio management platform with a rich feature set designed for wealth and asset managers. The integration of BITRIA’s technology with Gemini’s custody and exchange capabilities provides advisors with access to the entire crypto ecosystem and the ability to manage their clients’ portfolios from one interface. BITRIA’s Digital Asset SMA and Digital TAMP will be fully integrated into Gemini’s platform. In addition to access to the more than 70 cryptocurrencies available on Gemini’s exchange, this integration will provide wealth managers with features including SMA construction and maintenance, portfolio rebalancing, tax-loss harvesting, fee collection and billing, account planning, and data connectivity.”  
  • Opal Wealth Advisors: “Opal Wealth Advisors, a registered investment advisor (RIA), is pleased to announce that Gino Carollo has joined the firm as a financial advisor. Carollo oversees approximately $230 million in total client assets and joins from Citigroup Global Markets Inc.” Carollo said, “After looking at many other firms, I joined Opal because in my opinion, they will provide me with the highest quality support and professional training. My greatest joy is empowering people to live their dreams. And I believe that Opal’s methodology, investment resources, and leading-edge technologies are the best way to help my clients reach financial freedom.” 
  • ti&M: Urs Bolt, product manager for digital banking at ti&m in Zurich, Switzerland, offers some insight on why investors might switch financial advisors, the chief reason of which being high costs followed by weak portfolio performance. Rounding out the top seven at 30% is a reluctance to “adopt new technologies.”  

Source: Urs Bolt on Twitter 

  • Veriti Management: “Veriti Management LLC, a direct indexing asset management and financial technology company, and Research Affiliates (RA), a global leader in smart beta and asset allocation, are excited to announce a new implementation partnership. Veriti will utilize its innovative direct indexing technology to implement certain index strategies, including those not currently available in an ETF or mutual fund, of RA’s affiliated entity, RAFI Indices.”