Advisor Tech Talk: 2/1/22

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The wealthtech space is increasingly embracing AI and ML. Major banks are making fintech a priority in the new year. Advisors are looking to tech to help investors grow their wealth in the current market environment. 

  • JIFFY.ai & Docupace:  “Docupace, the leader in cloud-based fintech digital operations software for the wealth management industry, and JIFFY.ai, the innovative provider of true end-to-end intelligent automation applications, announced the companies are jointly developing the wealth management industry’s most powerful suite of automation solutions; deploying leading-edge capabilities such as intelligent document processing, artificial intelligence (AI), robotic process automation (RPA), as well as machine learning and advanced analytics to deliver benefits at scale across enterprise operations.” Michael Pinsker, founder and president at Docupace, stated, “Docupace and JIFFY.ai are leveraging our collective wisdom to take the most advanced technologies and pointing them directly at our clients and the wealth management industry’s biggest pain points and most common issues of operational inefficiencies.”  
  • RISE Financial: “RISE Financial, a subsidiary of Siebert Financial Corp., a provider of financial services, announced that it has completed the acquisition of a 20% equity stake in Hedge Connection, the only woman-owned fintech company offering a patented enterprise capital introduction SaaS solution through its product Fintroz. As part of the transaction, RISE Financial acquired the right to purchase up to the remaining 80% of Hedge Connection. Hedge Connection’s powerful Fintroz platform allows hedge fund managers to connect with a global pool of institutional investors and retain control over how their information is shared while helping allocators to streamline due diligence. The Fintroz platform provides RISE Financial and its division, RISE Prime, with a technology solution to efficiently scale a comprehensive capital introduction program for clients.”
  • Riskalyze: “Riskalyze, the industry-leading risk-centric wealth management platform serving tens of thousands of financial advisors, and Liberty Wealth Advisors announced an enterprise agreement to deliver its team of financial advisors access to Riskalyze’s risk alignment and portfolio analytics platform. Leveraging Riskalyze across its advisory team provides Liberty Wealth with a unified solution to manage and measure risk in client portfolios and, using the Risk Number, enables the firm to better communicate the concept of risk to stay better aligned on clients’ financial futures. Leading with a conservative, long-term investment approach, Liberty Wealth will lean on Riskalyze to demonstrate to both clients and prospects how its portfolio management strategies protect and grow their wealth.” 
  • Wealthfront: “UBS and Wealthfront, an industry-leading, automated wealth management provider serving the next generation of investors, signed an agreement whereby UBS would acquire Wealthfront in an all-cash transaction valued at $1.4 billion. Through this acquisition, UBS will accelerate its growth ambitions in the US, broaden the firm’s reach among affluent investors and expand its distribution and capabilities.” UBS CEO Ralph Hamers stated, “Wealthfront complements our core business in the US providing wealth management to high net worth and ultra-high net worth investors through trusted relationships with financial advisors, and will enhance our long-term ambition to deliver a scalable, digital-led wealth management solution to affluent investors.”  
  • Welt Editor Holger Zschaepitz illustrates just how punishing January was for stocks, which fell more than 5% in the month. 

Source: Twitter