Wealthtech is dominated by algorithms and analytics, and the 2024 MMI/Barron’s Industry Awards have spotlighted the firms revolutionizing wealth management through technology. They are being recognized for actively shaping the future, and how financial advisors and their clients think about money, investment, and long-term planning.
The Money Management Institute (MMI) and Barron’s announced the winners of this year’s awards on Wednesday at MMI’s Annual Conference in Charlotte, North Carolina, highlighting firms that have introduced cutting-edge technologies in a sector increasingly driven by digital transformation. As wealth management pivots to prioritize the user experience and data-driven decision-making, the innovation recognized this year demonstrates the future-facing approach necessary to meet investor demands.
One of the biggest tech winners was Bank of America Merrill Lynch, which secured the Digital Innovation award for its Merrill Digital Presence. More than just a sleek interface, this platform is a rethinking of how investors engage with financial services. The Merrill Digital Presence offers clients a modernized ecosystem.
On the asset management side, Cohen & Steers emerged victorious with its Real Assets Compass. This interactive tool is more than just a calculator – it’s a full-fledged strategy guide for financial advisors looking to enhance their portfolio’s risk-return profile using real estate investments. By combining advanced analytics with an intuitive interface, Real Assets Compass empowers advisors to make smarter, data-backed decisions that can keep up with the market’s rapid shifts.
Tech Meets Wealth: Platforms for the Future
The transformation of wealth management isn’t just happening at the surface level, it’s being rebuilt from the ground up with advanced platforms. Adhesion Wealth Advisor Solutions was recognized for its Adhesion Model Marketplace, a comprehensive hub that gives financial advisors access to over 4,000 investment models from nearly 500 institutional asset managers. The platform’s design focuses on user flexibility, allowing advisors to customize their clients’ strategies.
Meanwhile, SMArtX Advisory Solutions took home the Technology/Solutions Provider of the Year award for its SMArtY platform. Unlike traditional models, SMArtY eliminates platform fees, offering a no-cost, manager-sponsored strategist platform.
Reinventing Financial Advisory Through Technology
From AI-powered insights to marketplaces that give advisors more control over their strategies, these technologies signal a move toward a more transparent, efficient, and customizable wealth and asset management ecosystem. Firms are not just building tools, they’re crafting the future of how we interact with our finances, making sure that in an increasingly complex world, technology becomes the key to clarity and control.
