What the heck are we writing about, anyway?
Welcome to Advisor Tech Talk, everyone, where we have a nice summer set of wealth management technology happenings to report.
But first, let’s talk about… wealthtech. After all, it’s what we’re supposed to be talking about every week. Wealthtech, and to a lesser extent, fintech. But what is it?
In our Advisor Tech Talk columns, we’ve approached wealthtech as something targeted towards financial professionals to handle some or most of their day-to-day wealth management functions, but other financial technology writers bring many consumer and retail investor-facing technologies under the wealthtech umbrella.
Let’s be clear, then. When we talk about wealhtech in this column, we’re specifically referring to software and hardware that financial professionals use and that’s developed and targeted towards industry practitioners, some of which may be adopted and used by the greater public. When we talk about fintech here, we’re talking about financial and wealth management technologies for everyone else, some of which may be adopted and used by financial professionals.
But it is interesting that a more standard definition of wealthtech includes the technologies that are challenging traditional wealth management today and will continue to provide competition in the future, because in many ways this kind of fintech exceeds the capabilities and functions of what we call wealthtech, and will continue to do so with increasing intensity over generations.
To this point, however, more consumer-facing fintech has pivoted towards wealthtech than vice versa—likely because that’s where they can most easily grow their platform assets and quickly increase their revenue. Technology firms don’t have to wait for changing consumer preferences and generational wealth transfers if they focus on traditional wealth managers—the assets are already there, even if they’re not likely to stay there over the long term.
That’s because traditional wealth managers—and traditional financial services—continue to drop the ball on attracting next-generation clients, with marketing, services and service models that still largely targets Baby Boomers instead of the up-and-coming onslaught of late career Gen Xers who need retirement help now, and the next wave of millennials who are hitting their peak earning years. These subsequent generations are the clients of the wealth management providers of the future, and regardless of their level of wealth, they’re still largely accessing financial services through consumer-facing technology.
If fintechs choose to pivot towards becoming what we here call wealthtechs in the name of accumuilating platform assets now, they could be sacrificing their long-term future growth in the name of short-term survival.
Let’s get to your headlines.
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Cetera
Cetera today announced record-breaking attendance at its 2025 Connect2Peers event, held recently in Orlando. Nearly 2,000 attendees gathered to engage in immersive, peer-led sessions, strategic insights, and community-building. The event underscored Cetera’s commitment to advisor-first growth and marked a high point in a year of continued momentum.
Throughout the three-day experience, Cetera spotlighted key strategic imperatives, including financial professional adoption of the firm’s Growth360 business planning framework and expanded access to alternative investments, and trust capabilities. The event also previewed new developments in Cetera’s IntelligenceEngine platform, including expanded planning tools, AI-powered insights, and the latest features in AdviceWorks®, Cetera’s all-in-one, interactive workspace that helps simplify financial professionals’ operations while driving growth and facilitating deeper client collaboration.
Ellevate
Ellevate, an innovative managed services platform founded by industry veteran and former Black Diamond executive, Michelle Odom, announced today that it has surpassed $500 billion in assets being serviced across its platform. In less than two years, Ellevate has emerged as the go-to solution for large RIAs, aggregators, and enterprise wealth management firms seeking to scale operations, streamline technology, and drive sustainable growth.
At a time when wealth management is facing compounding operational challenges, from rising consolidation and platform complexity to a deepening talent shortage, Ellevate is delivering expert-driven, outsourced solutions that empower firms to grow with confidence.
Ellevate’s growing team of highly specialized professionals supports thousands of advisors across some of the largest firms in the industry. Top-performing RIA firms and aggregators have embraced Ellevate as a trusted partner in their evolution, choosing the firm to manage and future-proof the infrastructure that drives long-term success.
Empower
Empower, a leading innovator in retirement investment solutions, today announced that the Empower S&P 500® Index Separate Account has surpassed $2.5 billion in cumulative sales since its launch earlier this year. This milestone highlights strong demand from U.S. retirement investors seeking low-cost, transparent ways to grow their retirement savings. The fund is on track to achieve $5 billion in total sales by year-end 2025, underscoring its sustained momentum across key markets for retirement investments.
Empower Executive Vice President and Head of Empower Investments Jonathan Kreider, CFA, added, “The Empower S&P 500® Index Separate Account has resonated with a broad spectrum of advisors and plan sponsors thanks to its simplicity, transparency, and cost-effectiveness. We remain dedicated to expanding access to retirement products that help drive improved retirement savings.”
Financial advisors serving retirement plans have given positive feedback, praising the product’s no-fee structure and ease of integration into client portfolios. Advisors note that the Empower S&P 500® Index Separate Account helps simplify retirement planning while maximizing value for their clients.
EncorEstate Plans
EncorEstate Plans (Encore) – the only estate planning software for advisors that ends procrastination, ensures good inputs and correct document execution, and gets trusts funded – today announced a groundbreaking partnership with eLegacy, integrating direct access to attorney-led document review and legal advice within Encore’s industry-leading platform.
Encore has already been dubbed “the standout leader” in estate document preparation according to the Kitces Advisor Productivity Survey, and an “All Star” in the estate planning software category in this year’s recognized T3/Inside Information survey. Now, with this new partnership with eLegacy, Encore is poised to make an even greater impact. This new partnership enables state-specific attorney review phone calls and estate document reviews, providing nearly complete coverage nationwide for Encore advisors.
Unlike other estate planning software for advisors that only offer outside attorney referral networks, Encore has created a fully integrated estate attorney experience directly within the software platform. This integration enables financial advisors to effortlessly facilitate state-specific attorney review and advice for their clients, offering an extra layer of review, legal guidance, and peace of mind on top of Encore’s robust 60-point estate plan review process.
FMG Suite
GTCR, a leading private equity firm, announced today that it has signed a definitive agreement to acquire FMG Suite (“FMG” or “the Company”), one of the largest providers of advisor-led marketing automation software used by financial advisors and insurance professionals, from Aurora Capital Partners (“Aurora”).
Founded in 2011, FMG provides marketing automation solutions to wealth advisory and insurance professionals, helping advisors and agents drive organic growth through omnichannel marketing solutions that maximize efficiency and ensure compliance. The Company’s purpose-built platform, robust content library and integrated compliance workflows create a mission critical “one stop shop” for advisors seeking enhanced client engagement. FMG currently serves over 50,000 financial professionals and, through its Agency Revolution brand, over 3,500 property and casualty insurance agencies.
Leveraging FMG’s history of customer-centric product innovation, under GTCR’s ownership the Company will continue to build out its product suite and technology capabilities to meet the evolving needs of its client base and expand its market reach. FMG represents the latest partnership in GTCR’s long history of investing in wealth, marketing and insurance services and technology, including current investments in AssetMark, AssuredPartners, CAPTRUST, Foundation Source, Simpli.fi and Winged Keel.
FNZ
In a dramatic escalation, the two directors who represent CDPQ and Generation on the Kiwi CayLP board, which are the largest shareholders in FNZ, have filed for an injunction in the Grand Court of the Cayman Islands aimed at blocking a trustee entity – Kiwi CayLP – from pursuing a USD $4.6 billion class action in the High Court of New Zealand.
Kiwi CayLP represents a significant portion of FNZ’s employee equity and is leading the legal challenge against FNZ Group and 17 of its current and former directors.
The claim alleges that employee shareholders were unfairly diluted through the issuance of preference shares and warrants on non-commercial terms, transferring over USD $1.5 billion in value to institutional investors.
GeoWealth
GeoWealth, a proprietary technology and turnkey asset management platform (TAMP), today announced that it has raised a $38 million Series C funding round led by Apollo (NYSE: APO). In tandem, GeoWealth and Apollo have formed a strategic partnership to expand access to customizable public-private model portfolios for registered investment advisors (RIAs).
The previously announced investment from BlackRock, J.P. Morgan Asset Management and Kayne Anderson Capital Advisors (sub-advised by Composition Capital) is included in the Series C funding total. The strategic partnership between GeoWealth and Apollo will combine GeoWealth’s unified managed account (UMA) technology, powered by its proprietary portfolio management software, with Apollo’s private markets building blocks to help clients construct more efficient and robust multi-asset portfolios.
With this capital infusion, GeoWealth plans to expand its public-private model capabilities, investing in product development and human capital to help advisors meet growing client demand for a broader range of asset types in a UMA. The funding will primarily accelerate innovation in GeoWealth’s UMA capabilities, while also strengthening the core technology foundation for its next phase of growth. As part of the use of proceeds in this round, GeoWealth has also completed the acquisition of the TAMP assets from Freedom Advisors.
InspereX
InspereX, the tech-driven fixed income and structured investments distribution and trading firm, today announced Ira Lehrman has been appointed Chief Technology Officer. Lehrman will report to Scott Mitchell, Chief Executive Officer of InspereX.
Mr. Lehrman will spearhead the unification of the firm’s technology operations and systems, including the proprietary Incapnet issuance platform and BondNav®, fixed income technology serving institutional investors, RIAs, banks, and broker-dealers.
Further, Mr. Lehrman will be responsible for shaping the firm’s overall technology roadmap, maintaining and enhancing existing platforms and systems, and identifying, developing, and implementing new technology to drive innovation and growth moving forward.
MyVest
MyVest, a leading provider of enterprise wealth management technology, today announced a strategic partnership with Alphathena, an innovator in AI-powered direct indexing. The integration of Alphathena’s personalized direct indexing platform with MyVest’s Strategic Portfolio System (SPS) delivers a powerful solution for firms seeking to scale tax-optimized, multi-account portfolios, while maintaining full control over their investment strategies.
This collaboration enables wealth managers to design and implement customized direct indexing strategies that reflect the unique goals and values of each investor. The combined offering makes it easier for firms to transition legacy portfolios in a tax-efficient manner, manage household-level portfolios, and offer white-labeled solutions that preserve the advisor’s brand.
Both companies share a commitment to democratizing access to sophisticated investment strategies. Through this partnership, firms can now bring the benefits of direct indexing, including tax-loss harvesting, values-based investing, and portfolio customization, beyond the high-net-worth segment, making it accessible to mass affluent investors.
Nitrogen
Nitrogen, the leading developer of integrated risk tolerance, proposal generation, investment research, and planning software for advisors, today announced a partnership with Indivisible Partners, a modern RIA platform dedicated to empowering advisors through an integrated, outcomes-driven technology platform. This partnership reflects a shared commitment to building intuitive, scalable, and deeply integrated technology solutions that support high-quality decision-making and personalized service.
Together, the deeply integrated Nitrogen and Advyzon technology form a core foundation for Indivisible Partners’ advisor software platform. These features, co-developed in response to Indivisible Partners’ vision for a more integrated advisor technology platform, are already shaping the daily workflows of advisors.
This collaboration lays the groundwork for future advancements in the advisor technology ecosystem and sets a precedent for how fintech providers can co-create with visionary wealth firms. As Nitrogen continues to evolve its platform, partnerships like Indivisible Partners will remain central to informing product direction and delivering meaningful impact across the advisor community.
Savvy Advisors
Savvy Advisors Inc. (“Savvy Advisors”), a federally registered investment advisor (RIA) affiliated with Savvy Wealth, Inc. (“Savvy”), today announced the addition of Perspective 6 Wealth Advisors (“Perspective 6”), a Minneapolis-based team with approximately $270 million in assets under management (AUM). In tandem, Savvy welcomed 12 additional advisors from across the United States, bringing its total advisor headcount to 68 since launching in 2022.
Perspective 6 serves clients nationwide, with strong concentrations in Minnesota, Wisconsin, California and Florida. Its team specializes in advising professionals in the medical technology and medical device industries, with services including equity compensation planning, complex benefits strategy, business owner succession planning and retirement planning. The firm is led by Matt Nelson CFP®, AIF®, ECA; Matthew J. Finley CFP®; and Jacob LaRue CFP®—each with extensive experience delivering holistic advice that integrates financial decision-making with life and career goals.
In addition to Perspective 6, Savvy has welcomed 12 more advisors across the country.
SMArtX
SMArtX Advisory Solutions, a leader in enterprise managed account technology, seamlessly integrates semi-liquid alternative investments, including interval and tender offer funds, directly into Unified Managed Accounts (UMAs) using its fully proprietary, end-to-end platform.
First introduced to clients in 2024, this milestone marks a new era in private market access. SMArtX’s platform enables live, scalable management of semi-liquid strategies like private credit, private equity, and real estate, seamlessly embedded alongside traditional investments such as ETFs, mutual funds, SMAs, and direct indexing. All of this is executed within a single tax-aware custodial account, creating a fully unified, operationally efficient investment experience.
SMArtX client firms, including Concurrent Asset Management and One Seven, are actively implementing interval and tender offer funds across rep-directed sleeves, firm-level models, and third-party portfolios, without custodial or operational friction. Unlike other platforms that rely on partner dependencies, SMArtX delivers this capability entirely in-house, offering real-time automation that eliminates the manual complexity typically associated with accessing semi-liquid funds.
SS&C Technologies
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced a long-term agreement with Wesleyan Assurance Society (“Wesleyan”), a financial services mutual, to deliver life and pensions administration services to its members and customers.
This announcement builds on Wesleyan’s selection of SS&C earlier this year. Following a competitive tender process, the firm will implement SS&C Hubwise as the foundation of WesInvest, the mutual’s new digital-first wealth management platform. The platform is designed to broaden the range of investment and retirement products available to Wesleyan’s specialist financial advisers and their clients, while offering an enhanced, modern user experience.
As part of the new agreement, Wesleyan will transition life and pensions administration to SS&C, creating a single, modern ecosystem across investment, retirement, and protection services. More than 200 Wesleyan team members will transfer to SS&C, preserving deep expertise and ensuring continuity of service.
Tax Status
Tax Status, Inc., a leader in tax data intelligence solutions, today announced the launch of TaxStatus LeadGen, a groundbreaking turnkey lead generation platform that delivers fully verified prospect data directly from IRS records. The platform enables financial services firms to receive pre-qualified leads with complete demographic information and comprehensive income, asset, and tax data in under five minutes, revolutionizing how wealth management firms identify and convert high-net-worth clients.
Unlike traditional lead generation services that rely on self-reported data or publicly available data, TaxStatus LeadGen provides financial advisors with permission-based, comprehensive, IRS-verified prospect profiles including full demographics (name, spouse name, date of birth, address, email, phone), income sources, business ownership, investment accounts, real estate holdings, and tax standing. This unprecedented level of data accuracy and depth enables firms to focus their resources on genuinely qualified prospects while dramatically reducing the time spent in discovery meetings.
Vestmark
Vestmark, Inc., a leading provider of wealth management software and services, announced today a strategic relationship with Fidelity Investments to provide eligible advisors of RIAs and broker-dealers access to an open-architecture custom model portfolio platform.
The Vestmark platform will enable eligible RIAs and broker-dealers to access open-architecture, custom model portfolios that can include semi-liquid interval funds, SMAs, ETFs, and mutual funds, within a single portfolio and custodial account. The Vestmark platform will be offered through Fidelity at no cost to certain participating firms.1
Vestmark delivers intelligent tax and overlay management across the entire unified managed account (UMA), optimizing and rebalancing across both public and private holdings. Advisors can direct personalized capital gains budgets and seamlessly transition accounts with embedded gains, bringing sophisticated, integrated tax management to a broader range of clients.
Vise
Vise, the AI-powered technology platform that delivers personalized portfolios at scale, today announced the launch of fully customizable options overlay strategies. This new capability expands Vise’s existing direct indexing offering, enabling advisors to deliver outcome-based investing through a single, seamlessly integrated account.
In an environment where clients increasingly demand more control, clarity, and confidence in their portfolios, Vise’s options overlays are designed to bring greater predictability to investment outcomes. These strategies allow advisors to define precise parameters around protection levels, income generation, and risk tolerance—providing clients with a transparent view of potential portfolio performance across various market conditions.
Unlike ETF-based options strategies that require portfolio rebalancing or liquidation—often triggering tax consequences—Vise overlays integrate directly with existing holdings, enabling advisors to layer in downside protection or income strategies without disrupting core allocations.
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