Advisor Tech Talk (Week of 6/18/24)


It’s probably not happening in 2024, and thus, advisors should breathe a sigh of relief. 

As consumers continue to explore fintech and wealth tech for themselves, advisors up to this point have been safe from serious competition from technology. In fact, many wealth management mavens have come to reject the idea that technology poses a serious threat to traditional financial advice. 

The irony is that the rejection of competition from technology is generally coming from the same voices urging advisors to upgrade and revamp their client experience while automating many of the administrative and other daily functions of their practice through wealth tech. 

When robo-advisors emerged into the wealth management zeitgeist over a decade ago, there was some fear that these robos with their low-cost, simplified, direct-to-consumer offerings, would challenge advisors for consumer attention. That clearly didn’t happen in a significant way. 

Instead, most advisors adopted the robo-advisors for themselves, hence the growth of massive wealth tech turnkey asset management platforms, or TAMPs. According to Cerulli Associates, more than half of the Certified Financial Planners working today outsource their investment management to TAMPs. 

Many consumers who are still choosing human financial advisors over technology are unaware that they’re really signing up for the equivalent of a more expensive robo-advisor to manage their investments because they want a human relationship with a wealth management professional. That’s fine. 

But most of these consumers aren’t conducting a cost-benefit analysis of their wealth management services—yet. 

What happens when the average client wakes up and realizes that they’re paying 100 basis points for investment services they can receive elsewhere for 30 basis points—or less—via technology? 

Financial advisors will have some explaining to do! 

Let’s get to some wealth tech headlines… 


Aidentified, an AI-powered prospecting and relationship intelligence platform for financial services professionals, announced that it has raised $12.5 million in Series B funding from FactSet, a global financial digital platform and enterprise solutions provider. 

Aidentified provides financial advisors, marketing teams, and other sales professionals with tools to identify, qualify, and convert new client relationships. Aidentified will use the investment to fund further technological development and grow its team as client adoption accelerates. Aidentified currently serves clients at top financial services firms and independent registered investment advisors. 

Aidentified gives users the ability to search for specific identity markers such as income, wealth segment, location, and hobbies, along with verifiable contact information. Further, it employs AI and machine learning-based algorithms and models to visualize user connections with prospects and harness its clients’ networks for referrals. As of 2024, the company has mapped 16 billion 1st-degree connections and 800 billion 2nd-degree connections, making Aidentified a leading provider of relationship data. 


ATFX has announced a significant enhancement to its global trading infrastructure with the integration of PriceOn from TraderTools. ATFX is set to revolutionize how the firm manages trading flows from current institutional and retail clients, ultimately improving pricing and execution experiences, alongside attracting new clients with data and risk metrics driven confident, unique pricing. 

PriceOn will empower ATFX to manage trading flows more effectively and efficiently, ensuring clients benefit from superior execution and competitive pricing. The advanced technology underpinning PriceOn, which leverages artificial intelligence and sophisticated algorithms, is designed to handle complex client flows seamlessly. This capability will enable institutional clients flows to match with a broad range of retail client flows, (and vice-versa) even those with challenging characteristics, without compromising execution performance. 

PriceOn’s AI-based algorithms represent the cutting edge of trading technology, providing precise and strategic execution that maximizes profitability for clients. Unlike traditional models, this partnership focuses on delivering enhanced returns for ATFX’s global clients. 

Broadridge | COO 

Broadridge Financial Solutions announced the appointment of Roz Smith as Chief Operating Officer of Broadridge International, effective May 1, 2024. Smith, who is based in London, will work closely with Mike Sleightholme, President of Broadridge International, to further scale and grow Broadridge internationally and deliver an unparalleled customer service experience in the EMEA and Asia Pacific regions. 

In her role, Smith will focus on scaling and streamlining the Broadridge International business to drive transformational levels of operating efficiency and productivity. She will oversee implementation processes and program management and be responsible for ensuring a thriving country and regional level organizational structure. Combined with a cohesive approach to satisfying client needs through broader, segment-specific solutions, Smith will also help ensure best practices are further extended across functions, business units, and geographies. 

Prior to joining Broadridge, Smith spent eighteen years in management roles at HSBC, where she most recently served as Head of Strategy and Change Management in the Non Financial Risk team of the bank’s Markets & Securities Services business. 

Broadridge | Schroders 

Broadridge Financial Solutions announced a new agreement with leading global investment management firm, Schroders, to better protect consumers and prioritize their needs under the U.K. Financial Conduct Authority’s (FCA) Consumer Duty rules. 

Under the Consumer Duty, fund manufacturers such as Schroders are required to review their products on a regular basis by collecting information from distributors. Schroders is achieving this using Broadridge’s service that leverages the U.K. Joint Trade Association’s Distributor Feedback Template (DFT) in order to collect standardized and thus comparable data on their retail facing funds. A suite of analytics combined with custom dashboards enrich the feedback data and deliver meaningful insights while an online portal provides the capabilities for qualitative feedback. 

The Broadridge service is built on decades of experience gained from managing the flow of data between manufacturers and distributors and is capable of gathering and distributing both quantitative as well as qualitative data, collected in multiple formats and validated through an advanced end-to-end technology platform. Additionally, Broadridge is providing Schroders with in-depth analytics that deliver actionable observations that help them identify the strengths and weaknesses in their retail product sales channels and distributor sales patterns and supporting their Consumer Duty compliance. 

Broadridge | LTX 

Further building on its GenAI leadership in the fixed income market, LTX, an AI-powered corporate bond trading platform backed by global Fintech leader Broadridge Financial Solutions, announced GenAI-powered List Trading functionality. The new feature allows users to leverage GPT technology to generate and execute multi-asset class, multi-directional trade lists seamlessly via RFQ+. 

This new capability addresses the ongoing need to streamline workflows, as clients consistently seek to integrate GenAI into their pre-trade and trade execution processes. 

The introduction of this functionality coincides with the one-year anniversary of LTX’s GenAI application, BondGPT. Within the LTX platform, traders can use BondGPT to generate lists of bonds based on their specific criteria easily and quickly, then seamlessly construct and execute their list of trades. Traders can define rules for auto-execution, allowing greater workflow efficiency. BondGPT+ users can further enhance their portfolio management processes by using GenAI on their inventory and positions to inform portfolio construction decisions. 

Broadridge | TNS

To simplify market data management and reduce operational risk for clients, Broadridge Financial Solutions announced the integration of its global Futures and Options (F&O) Software-as-a-Service (SaaS) Platform with Transaction Network Services (TNS), a global leader in providing mission-critical infrastructure for financial markets. TNS will enhance the functionality of Broadridge’s F&O platform for the derivatives market by providing global exchange connectivity for order routing and market data access as the vendor of record. 

For more information about Broadridge’s F&O platform, please visit Futures & Options Trading Like Never Before. 

TNS offers a range of connectivity, colocation, cloud, market data and VPN solutions within its Infrastructure-as-a-Service (IaaS) portfolio. For further information visit  

Envestnet | Fidelity 

Fidelity Investments and Envestnet announced the expansion of their 20+ year relationship to deliver a comprehensive wealth and advisory solution that builds on the success of Fidelity Managed Account Xchange (FMAX), Fidelity’s wealth management platform, and the firms’ long-standing collaboration that has grown to more than $500 billion across managed accounts. 

Envestnet’s 2024 Market Intelligence Survey shows that while most advisors currently assemble their technology stacks with point solutions that address a single need (61%), an all-in-one technology platform that serves most or all their business needs is by far their preferred choice, versus a tech stack comprising multiple point solutionsii. Fidelity and Envestnet are combining industry-leading technology and service with proprietary institutional data management and investment solutions to help firms and their advisors embrace this industry shift. 

Fidelity and Envestnet are enabling new and enhanced FMAX capabilities to serve a full spectrum of wealth management firms and advisors. These capabilities, which will continue to be delivered through Fidelity’s industry-leading service model and improved workflows offered through Envestnet, are designed to offer more holistic wealth management solutions, produce better insights and reporting, and introduce a new FMAX Essentials offering. 


Fi-Tek, a FinTech company specializing in financial and wealth management, announced the transformation and expanded service offering of their wholly owned subsidiary, Rockit Solutions LLC, now operating as Fi-Tek Wealth Solutions™(FWS). Acquired by Fi-Tek in 2016, Rockit Solutions is a premier provider of family office solutions. Its proprietary technology platform, Rockit® Command, was purpose-built by the Rockefellers to manage one of the world’s most complex multi-generational family offices.  

Fi-Tek has developed an integrated wealth solution leveraging Rockit® Command, and its two other leading technology platforms – Global WealthES® (GWES) for trust and wealth management, and HedgeTek® for alternative investments. The new, open architecture offering provides clients a seamless experience across all wealth segments and solves for the most complex operational challenges, enabling FWS to expand its range of solutions.  

The transformed FWS consolidates technology-enabled services (operations and administration) for all wealth segments (HNW, UHNW, Family Offices, Trusts, RIA’s and Funds) and further streamlines existing offerings (operations, fund administration, Cash/Tax/GAAP accounting, alternative asset servicing, performance and consolidated financial reporting). The consolidated technology is further augmented by USA and India-based professionals and subject matter experts, together with well-honed and documented processes. 


Asset-Map Holdings announced a new integration with Holistiplan, the industry-leading tax planning software for financial advisors. 

As a result of the new strategic partnership, Asset-Map and Holistiplan have introduced a seamless integration experience between both platforms, allowing mutual and prospective customers to efficiently leverage the core competencies of each company in their effort to provide a unique, comprehensive, and holistic planning experience to their clients. 

More specifically, the single sign-on environment will enable Asset-Map users to import existing Holistiplan tax-planning client data directly to the Asset-Map platform, streamlining the creation of new Asset-Map Reports™ and subsequent updates to household data. 

Investall Group 

Investall Group, behind the AI-powered wealth management platform AllocateRite, announced the addition of industry veteran Jonathan (Jon) Beyman to its board of advisors. Since its commercial debut six months ago, AllocateRite has rapidly emerged as a disruptive innovation in the portfolio management arena, recently being featured in Michael Kitces’ influential Fintech Map as a newcomer in the portfolio management space. 

Jon Beyman’s addition as an advisor underscores AllocateRite’s commitment to excellence and innovation. Beyman, a distinguished figure with more than 40 years of experience in institutional finance, operations, and technology leadership at prestigious firms including Citibank, Lehman Brothers, Credit Suisse and McKinsey and Co will play a pivotal role in steering AllocateRite’s market strategies. 

Backed by over a decade of meticulous research and development, AllocateRite unifies all client accounts into a single, cohesive platform, supporting a diverse array of asset classes, currencies, and entities. The platform’s standout feature is its integration of advanced AI capabilities via an intuitive AI Agent named Newt. This pioneering AI agent equips advisors, portfolio managers, and operations teams with unprecedented insights derived from portfolio and securities data, all within a fully compliant environment. 


Jump, AI software for financial advisors, announced that it has raised $4.6 million in funding led by Sorenson Capital with significant participation from Pelion Venture Partners and strategic angel investors. 

Jump enables advisors to concentrate on their core competencies-advising and building relationships with clients-by using AI to automate repetitive administrative tasks like notetaking, sifting through data from previous client calls and notes to prepare for meetings, writing follow-up emails, generating task lists, and syncing relevant data to CRM (including deep integration with Wealthbox, Redtail, and Salesforce). 

After its founding by Parker Ence, Tim Chaves, and Adam Kirk in 2022, Jump launched in January 2024, following over a year of intensive R&D, including a closed beta. After just a few months, hundreds of RIA and Broker-Dealer advisors are using Jump, which has grown almost entirely from organic word of mouth. 


Nitrogen, (formerly Riskalyze), a provider of growth and client engagement software for wealth management firms, announced a new partnership with Holistiplan, the award-winning tax planning software used by tens of thousands of financial advisors. The alliance offers firms and individual advisors special pricing on both companies’ pioneering software. The collaboration will also introduce the inaugural in-person Holistiplan Tax Summit, scheduled for October 23, alongside this year’s Fearless Investing Summit in Nashville. 

The Holistiplan Tax Summit will feature a lineup of tax planning professionals who will share their expertise on tax planning strategy and Holistiplan’s product innovation. The event is hosted on the opening day of the Fearless Investing Summit, October 23, 2024, and is designed to equip financial advisors with the knowledge and tools necessary to navigate the complexities of tax planning, enhancing their ability to advise clients effectively. 


Orion, a provider of transformative wealthtech solutions for fiduciary advisors, announced the launch of its enhanced billing and reporting experience. Designed to boost advisor efficiency, this system significantly reduces the time spent on manual tasks like generating itemized bills and detailed transaction reports. As a result, advisors will have more time for client engagement and the pursuit of growth opportunities, all while effectively scaling their operations. 

To free advisors from a host of repetitive and non-revenue-generating duties, the new billing and reporting experience comprises the following digital tools: a bill generation wizard, organized fee schedules, cash flow automation, a billing compare tool and a redesigned reporting platform. 

Advisor feedback is core to developing technological advancements at Orion. In the coming months, the billing and reporting experience will include even more requested features, including a modern visual dashboard; audit history tracking; and post payments. 


Oscilar, a provider of cutting-edge risk technology solutions to fintechs and financial institutions, today announced the release of its state-of-the-art AI-powered ACH Fraud Detection product. The solution identifies and prevents fraudulent transactions with unparalleled speed and accuracy by leveraging advanced machine learning algorithms, generative AI techniques, and real-time data analysis and explainability. 

This innovative solution is critical as the ACH Network – the backbone of the modern financial ecosystem – experiences unprecedented growth, with 8.2 billion payments handled in the first quarter of 2024 alone, including a staggering 47% increase in Same-Day ACH volume. ACH facilitates critical transactions such as payroll, bill payments, internet purchases, person-to-person transfers, and business-to-business settlements. 

ACH credit fraud increased by 6% between 2021 and 2023, and more than half of organizations with revenue less than $1B were unable to recover funds lost from fraud attacks. 

State Street 

Charles River Development, a State Street Company, announced the launch of its two-way interface with Octaura LL Trading Co., LLC. The interface allows Charles River and Octaura customers to streamline their syndicated loan trading workflows, promoting greater efficiency and transparency. 

Octaura offers an electronic syndicated loan trading solution that delivers trading protocols, real-time data and analytics on a single platform. Charles River’s Investment Management Solution provides a technology platform to help automate and simplify the investment process across asset classes, from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout. 

Through the two-way interface with Octaura, Charles River clients can submit orders from within Charles River IMS to the Octaura system and receive real-time updates via the Charles River FIX Network. This streamlined process is designed to eliminate cumbersome workflows and supports efficacious order placement and management. 


TradeStation Securities announced its integration with Option Circle. As a U.S. multi-asset class broker-dealer, TradeStation Securities’ integration with the Option Circle platform provides Option Circle users with market access and trading within Option Circle’s suite of tools without the need for a separate brokerage platform. 

TradeStation Securities’ clients who are Option Circle subscribers gain access to Option Circle’s offerings, which include automated trading bots, detailed analytics, algorithmic trading strategies, no-code trading algorithms, and a Round Table message board to actively engage and share their insights. Option Circle subscribers also may be able to generate income by licensing their trading bots and strategies through Option Circle’s platform. 


Vestmark and PureFacts Financial Solutions announced a strategic partnership that will enhance billing solutions and enable nimbler, faster operations for leaders in the wealth management space. 

Vestmark, renowned for its core platform encompassing portfolio management, trading, and client reporting, has identified billing as a crucial component of its comprehensive offering. The partnership with PureFacts provides an integrated billing platform that supports various billing models, including AUM-based, account-based, hourly, retainers, and more. PureFacts Financial Solutions has established itself as a global leader in revenue management and billing, offering an AI-enriched, end-to-end revenue lifecycle process through its innovative PureFees platform. 

PureFacts’ enterprise billing platform is designed to scale, accommodating the diverse needs of different types of wealth and asset management firms. As part of a comprehensive suite of solutions available to financial advisors who leverage Vestmark’s customized investment solutions, PureFacts’ platform provides Vestmark clients the ability to track, measure, and optimize every dollar, bringing flexibility to support a wide range of business models, from small independent practices to regional broker-dealers and wealth managers and large national clients.