The wealth management world thrummed with activity this week, and it wasn’t just because of the topsy-turvy markets. This time around in Advisor Tech Talk we have a lot of financial industry news to survey before we hit a rather extensive list of wealthtech headlines.
Let’s start with the merger and acquisition activity—market issues are not yet impacting wealth management M&A. Leading the pack over the past week were acquisitions like one by Dallas-based Prospera Financial Services, which bought $2 billion AUM St. Louis-based Cutter & Company, and by Aspen Standard Wealth, which bought $2.9 billion AUM New England Private Wealth Advisors.
Also landing last week were two acquisitions by Modern Wealth Management, MAI’s acquisition of Constellation Wealth Advisors’ practice advising athletes, and M&A activity from NorthRock Partners, Waverly Advisors, Osaic, and F.N.B. corporation. Two Manhattan-based advisors moved from Janney Montgomery Scott to Wells Fargo.
Significant hires, promotions and other additions were announced by Wedbush Securities, Crusonia Wealth Advisors, Mesirow, Bluespring Wealth Partners, Soltis Investment Advisors, Northern Trust, Oxford Financial Group, Endeavor, GoldBook Financial, Cambridge Investment Research, Perigon Wealth Management and Crescent Grove Advisors.
On the wealthtech side of things, we have a trickle of news below from Envestnet’s Elevate event, which took place last week in Las Vegas.
We should also mention some wealthtech sector analysis from market intelligence firm QKS Group, which says that digital wealth management platforms will become an $18.59 billion industry by 2030, with a 16.16% compound annual growth rate over the next six years. Here’s what Sriram S R, one of QKS Group’s analysts had to say about automated wealth managers:
“The accelerating adoption of Digital Wealth Management Platforms (DWMPs) is driven by the convergence of AI-powered financial analytics, real-time data integration, and the demand for hyper-personalized, regulatory-compliant client experiences. By unifying front-to-back-office functions, automating routine advisory tasks, and enabling seamless omnichannel engagement, DWMPs empower wealth managers to scale operations, enhance portfolio performance, and remain agile in an increasingly digital and client-centric financial ecosystem.”
One last item about AI before we move on—Bank of America has been periodically publishing updates on its use of artificial intelligence, particularly the adoption of its AI tools by clients and employees. In its latest update, it says more than 90% of its employees are using its internal AI virtual assistant, Erica for Employees. Erica, its client-facing AI financial assistant, has racked up more than 2.5 billion client interactions, with more than 20 million clients now actively using the tool.
The age of financial AI is here, folks, and if you build it (or buy it), your clients—and your employees—will use it.
Let’s get to your headlines.
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Apex Fintech Solutions
Apex Fintech Solutions Inc. (“Apex”), an innovation launchpad for the global investment ecosystem, is proud to announce the appointment of Andrew Glenn as its new Chief Technology Officer (CTO).
With a proven track record spanning over 20 years in engineering and fintech, Andrew has been instrumental in building and scaling transformative technology solutions across high-growth, industry-leading organizations. In his previous role as Head of Engineering at Stripe Capital, Andrew spearheaded engineering initiatives that drove over $1 billion in annual lending while achieving record-breaking customer satisfaction scores. His career also includes senior leadership roles at Capital One, Betterment, and Rent the Runway, where he led groundbreaking projects such as cloud migrations, launching new financial products, and optimizing operational efficiency.
Earlier in his career, Andrew co-founded an ecommerce startup and contributed to the development of large-scale technology systems at Google and DoubleClick. His diverse experience equips him with a unique perspective on innovation, scalability, and the rapidly advancing technology needs of fintech companies.
Charles Schwab
Charles Schwab today announced that Schwab Alternative Investments Select, its new alternative investments platform, is now available to all eligible retail clients with more than $5 million in household assets at Schwab.
The new offer expands on Schwab’s comprehensive wealth management capabilities that serve high net worth (HNW) and ultra-high net worth (UHNW) clients who are increasingly seeking to supplement their investments with non-traditional approaches and access to private markets to meet their portfolio goals. The offer was initially rolled out to a smaller group of clients beginning in October 2024 and is now available to all eligible Schwab retail clients, including those enrolled in Schwab Wealth Advisory™, Schwab’s premier wealth management offer.
The new offer comes as demand for alternative investments continues. A recent survey1 of Schwab’s HNW clients shows that more than half expect to have at least 5% of their portfolio allocated to alternative investments over the next three years.
Daffy.org
Daffy.org, the modern platform for charitable giving, today announced a bold new suite of AI-enabled features, marking a major step toward a future where giving is simpler, smarter, and more accessible.
Despite Americans’ generosity—over $370 billion given by individuals last year—the experience of giving remains outdated. Most donors still encounter direct mail, clunky online forms, and minimal follow-up—friction that makes it harder to act on good intentions. In fact, 79% of donors who visit a donation page never complete their gift.
Daffy’s new Quick Donate leverages modern AI platforms to make personalized giving as simple as asking. Built on Groq’s unique AI inference engine, the feature allows members to type or speak naturally—requests like “Give $100 to my local school in September”—and have Daffy handle the rest. It identifies key details like amount, recipient, and timing, while also offering relevant suggestions—providing members with both assistance and total control of their giving. Additionally, Daffy incorporates contextual signals such as a user’s donation history, fund balance, and preferences to further personalize and optimize the experience.
Docupace
Docupace, a leading provider of software to streamline back-office operations of wealth management enterprises and financial advisors, today announced the appointment of J.T. Petrilli as head of mergers & acquisitions reporting to the CEO. Petrilli brings more than a decade of experience in financial strategy, corporate development, and post-merger integration, having led M&A efforts for some of the most respected names in the technology sector.
Strategic acquisitions have long been a part of the company’s plan to create the most comprehensive back-office platform in the industry. Docupace completed two acquisitions in 2021, just recently announced the acquisition of workflow platform Hubly in March 2025, and continues to enhance it’s industry-leading capabilities through a combination of product development, strategic partnership and selective, well-integrated acquisitions.
Petrilli was most recently at Mural, where he served as head of FP&A, overseeing financial reporting and companywide performance metrics for the $100 million in annual recurring revenue business. Prior to that, Petrilli spent over a decade at Salesforce in increasingly senior roles in the M&A Finance team. During his tenure at Salesforce, JT played a pivotal role in more than 20 closed acquisitions — leading due diligence, financial modeling, integration planning and stakeholder alignment.
E*Trade
E*TRADE from Morgan Stanley today announced the launch of five no commission, 0% expense ratio (0.00% management fee) Index Mutual Funds exclusively for E*TRADE clients with eligible brokerage accounts. The new funds will be managed by Morgan Stanley Investment Management (MSIM).
The announcement follows E*TRADE’s pioneering move to eliminate trade commissions and early redemption fees for all online mutual fund trades, adding to E*TRADE’s $0 online commission offering that includes US-listed stocks, ETFs, and options trades. Further, the platform offers over 5,000 mutual funds (nearly 300 of which are from MSIM) and clients can use the Fund Screener or best-in-class Bond Resource Center3 to find investments that match their goals.
E*TRADE serves as one of three core client channels within Morgan Stanley Wealth Management, spanning Advisor-led, workplace, and retail investing and trading, enabling the business to serve clients across all segments and life stages.
Envestnet
Envestnet, in collaboration with State Street Global Advisors, announced at its Elevate 2025 conference in Las Vegas today that it is expanding access to personalized investing with the launch of Direct Indexing portfolios available on the Envestnet Unified Managed Account (UMA) platform. This offering combines the powerful legacy of index investing from one of the world’s leading asset managers with Envestnet’s sophisticated technology to deliver customized, tax-aware portfolio solutions at scale.
Direct indexing at Envestnet with State Street Global Advisors offers investors the ability to create truly personalized index portfolios, featuring over 100 points of customization and optional tax overlay services—all within a seamless UMA structure. Clients can now benefit from the institutional experience of State Street Global Advisors, creator of the world’s first ETFs1 and the fourth largest asset manager globally2 with $4.72 trillion in assets under management3.
With direct indexing, investors hold the individual securities that make up an index, rather than pooled vehicles like ETFs or mutual funds. This structure enables enhanced tax management, such as tax-loss harvesting, along with the flexibility to incorporate personal values or investment preferences. Historically reserved for high-net-worth clients due to complexity and cost, direct indexing is now broadly accessible thanks to advancements in automation, fractional share trading, and zero-commission platforms.
Envestnet
Envestnet announced at its Elevate conference in Las Vegas that it has gone live with BlackRock (NYSE: BLK) custom model portfolios for registered investment advisors (RIAs).
The new offering provides RIAs with streamlined access to BlackRock’s custom model capabilities, managed within a single account and powered by Envestnet’s UMA technology. In addition to traditional public markets ETFs and mutual funds, these portfolios are expected to include Separately Managed Accounts (SMAs), private markets and other alternative exposures in the near future. Combining BlackRock’s portfolio design and risk management experience with Envestnet’s industry-leading managed account platform will enable RIAs to seamlessly deliver more personalized, tax-efficient investment strategies that can align with clients’ specific goals, risk profiles and preferences.
This enhanced offering provides advisors and their clients with access to institutional-quality portfolios, enables more strategic and personalized advisor relationships and financial planning. For RIAs in particular, this solution will help them scale their practices more efficiently, reduce operational risk, and spend more time focusing on client relationships. According to Envestnet’s 2022 research, firms allocating over 75% of their practice to model portfolios consistently achieve higher valuations.
Envestnet
Arete Wealth, a leading broker-dealer and registered investment advisory firm, is pleased to announce the execution of a new long-term contract with Envestnet, a recognized leader in innovative wealth management technology.
By integrating Envestnet’s advanced capabilities, Arete Wealth continues to provide its corporate RIA and affiliated independent RIAs with advisory technology and enhanced tools to optimize portfolio management, client engagement, and operational efficiency.
Envestnet has been widely recognized for its industry-leading technology and is known as a pioneer in financial technology.
Financial Finesse
Financial Finesse, the nation’s largest independent provider of unbiased financial coaching as an employer-paid benefit, announces the appointment of Todd Lacey as President. Lacey, an accomplished business leader with nearly 30 years of experience leading high-growth companies, will play a critical role in driving the next phase of Financial Finesse’s expansion and meeting the growing demand for personalized financial coaching solutions.
Previously the Chief Revenue Officer at Stadion Money Management; EVP of Investments & Retirement Strategy & Corporate Development for Transamerica; and Founder and President of the (k)larity Group, Lacey brings extensive expertise in business development, scaling operations, and leading high performing teams. His leadership comes at a pivotal time, positioning Financial Finesse to accelerate its growth and further innovate its services that reach millions of employees.
With ten fintech and AI awards recognizing its virtual financial coach, Aimee, safe AI leadership, and other advancements in 2024 and 2025 alone, the company is uniquely positioned to meet the rising demand for personalized, unbiased financial guidance.
Masttro
Masttro, the leading wealth tech provider to wealth owners and the industries that serve them, today announced the appointment of Dan Kutner as Head of Sales, North America.
Kutner brings extensive experience in building and leading fintech sales teams and driving growth across all go-to-market functions. Most recently, he served as Executive Vice President of Sales at wealth tech company CircleBlack, where he played a pivotal role in shaping and executing their growth strategy.
Previously at Human Interest, a leading 401k provider, Kutner was instrumental in scaling the company’s revenue to more than $100m. Earlier at Windham Capital, he helped establish and expand market distribution for broker-dealers and RIAs, scaling the firm from startup to $1.2b in AUM. He began his career at Eaton Vance managing client service and sales support teams.
Merit Financial Advisors
Merit Financial Advisors (“Merit”), a Georgia-based financial advisory firm that specializes in financial planning and wealth management solutions for high-net-worth individuals and families and those navigating life transitions, announced today it has joined Fidelity’s Wealth Advisor Solutions® (“WAS”) program.
Through WAS, Fidelity will introduce high-quality prospective clients who are looking for personalized services to Merit advisors. Merit has custodied with Fidelity since 2016.
Earlier this month, Merit completed its second-largest acquisition to date when it partnered with Sanctuary Wealth Management. The acquisition established the firm’s presence in Idaho and increased its assets by $1.6 billion. This is Merit’s thirty-fourth acquisition since taking a minority investment in December 2020 from Wealth Partners Capital Group (“WPCG”) and a group of strategic investors led by HGGC’s Aspire Holdings platform.
OneVest
OneVest is pushing the limits of modular wealth infrastructure with its white-labeled mobile app, deployed and transforming the way customers and advisors operate today. Designed with simplicity, the mobile app enables businesses to deliver a modern, fully branded wealth management experience, driving engagement and innovation. A trusted platform for tracking investments and easily accessing key documents, all at your fingertips.
Available natively on both Android and iOS, the mobile app is designed to meet the expectations of today’s investors and the demands of growing firms. Enterprises gain an enhanced mobile experience without the time and cost of building it from the ground up. The app offers no-code personalization, allowing enterprises to design and deploy custom user journeys, UI, and data visualizations that align with their client service practice. It’s the next-gen mobile platform that shortens time to market and puts firms in full control.
Empowered clients lead to more efficient advisors. By providing clients with full access to account details, documents, and market insights, they are better equipped to manage their own needs and stay engaged—allowing advisors to dedicate more time to strategic planning and advice. This dynamic creates a savvier technology relationship, where the advisor-client interaction aligns with today’s seamless integration of a digital lifestyle.
Rain
Rain, the employer-integrated earned wage access (EWA) and financial wellness app, announced today it has raised $75 million in Series B equity funding. The round was led by Prosus with additional participation from Nextalia Ventures, Spark Growth Ventures, and existing investors including QED, Invus Opportunities, and others.
Following consistently high growth since its founding in 2019, this funding will help Rain scale its go-to-market machine and build new employee financial wellness solutions and new employer solutions.
Over 70% of American households live paycheck to paycheck, with many living week to week or day to day. Traditional pay cycles often leave workers waiting for their wages while facing immediate financial obligations, increasing reliance on predatory products such as overdraft fees, payday loans, and high-interest credit cards.
SEI
SEI® (NASDAQ:SEIC) today announced that SEI Investments (Europe) Limited (SIEL) will partner with Ctrl Alt, a leading tokenization platform, and participate in the Bank of England’s Digital Securities Sandbox (DSS). The DSS aims to facilitate innovation in market infrastructure and protect financial stability and market integrity by evaluating blockchain and distributed ledger technology in a non-live environment. In collaboration with the Financial Conduct Authority (FCA), the DSS will provide a regulatory framework to explore the application of digital securities in a traditional financial infrastructure.
With 10% of global GDP expected to be tokenized and stored on the blockchain by 2027,1 numerous organizations have recognized the impact that tokenization could have on the financial services industry. Established to explore blockchain’s potential to improve the efficiency of post-trade processes, the DSS will evaluate how these technologies can be used by firms to issue and trade securities. As part of the collaboration, SEI will provide the underlying assets for tokenization in the initiative’s second phase, and if successful, SEI may manage custody and crypto-asset activity during that phase.
In addition to this initiative, SEI Ventures Inc. made an early-stage investment in Ctrl Alt. SEI Ventures is SEI’s venture capital program based in the U.S., focused on creating new, sustainable growth engines by exploring the emerging frontiers of wealth and its impact. Ctrl Alt is an infrastructure platform that makes structuring and investing in tokenized asset classes cost-effective, secure, and accessible. The strategic investment is immaterial to SEI’s financial results.
SMArtX Advisory Solutions
SMArtX Advisory Solutions (“SMArtX”), a leading innovator in managed accounts technology, has announced the addition of 5 new strategies from two leading asset management firms to its Manager Marketplace. SMArtX’s continuously growing platform now offers 1,537 strategies from 320 distinguished asset management firms.
Newcomer Jennison Associates added international equity and large cap growth strategies. Flexible Plan Investments also expanded their current offerings to include trend-following, managed futures, and intermediate-term tactical strategies.
TIFIN
TIFIN, a leading AI platform for the asset, wealth, and insurance sectors, announces the appointment of Harshendu Bindal to its executive team. Bindal will serve as CEO of TIFIN’s Magnifi, which leverages conversational AI to build consumer facing investment platforms as the firm expands its enterprise offerings. He will also serve as the firm’s Chief Global Officer, overseeing international expansion and partnerships including TIFIN India. He brings decades of fintech and digital wealth experience across Asia, Europe, and the Middle East.
Bindal most recently led Franklin Templeton Strategic Ventures, overseeing venture investments, partnerships, and strategic platforms advancing Franklin Templeton’s advisor technology capabilities. He previously served as Global Head of Digital Strategy and Wealth Management, Head of Retail, and President of Franklin Templeton Asset Management (India), where he helped build one of the country’s most respected asset managers.
TIFIN
TIFIN AG, a leading provider of artificial intelligence (AI) and growth science solutions for the wealth management industry, today announced a strategic partnership with SteelPeak Wealth (SteelPeak), an independent registered investment advisor with $3.4 billion in assets under management. Through this collaboration, SteelPeak will leverage TIFIN AG’s AI-powered asset consolidation package to enhance client engagement, foster holistic financial advisory, and drive better wealth outcomes for investors.
SteelPeak joins a growing list of forward-thinking RIAs choosing to work with TIFIN AG to expand existing client relationships and drive organic growth at scale. The partnership underscores the increasing demand across the RIA channel for solutions that empower advisors with actionable intelligence while staying true to their mission of delivering sophisticated yet simple wealth management solutions.
With the partnership, SteelPeak advisors and leadership will gain access to TIFIN AG’s advisor and home office portal, enabling seamless access to insights and growth opportunities.
Wealth.com
Wealth.com, the leading digital estate planning platform for financial advisors, today announced a strategic integration with eMoney Advisor, a leading provider of technology solutions and services that help people talk about money. This integration will empower financial advisors on the Wealth.com platform to deliver more efficient, accurate and holistic estate and financial planning solutions to their clients. Upon launch, advisors will be able to eliminate manual data entry and ensure real-time synchronization of financial data for a more fully integrated, AI-powered wealth management experience.
With recent market volatility, firms are increasingly turning to holistic planning as a safe haven to deliver value beyond portfolio performance. Legacy and estate planning have become essential pillars for building client trust and driving long-term retention. This strategic integration between Wealth.com and eMoney empowers firms to offer a unified estate and financial planning experience that helps advisors provide stability, clarity and enduring value in any market environment.
Wealth.com is the preferred estate planning platform for more than 800 wealth management firms, continuously increasing its capabilities to further enhance the advisor-client experience. In addition to this strategic integration, Wealth.com recently launched its Scenario Builder tool, the first all-in-one estate planning modeling tool designed to give advisors, wealth planners and estate attorneys insights into the potential impacts of various strategies on a client’s estate. With this partnership and recent innovations, Wealth.com continues to meet the increasing demand for premier estate planning services.
