AlphaTrAI, the Bill Dwyer-led provider of tech-enabled services and solutions for the wealth and asset management industries, has announced a rebrand to Praxis Solutions. While the new name comes in conjunction with a strategic shift in the firm’s value proposition, Praxis will continue to build upon AlphaTrAI’s roots in artificial intelligence.
Going forward, Praxis will leverage its vertical expertise to merge the often segregated components of the tech creation and implementation process – ideation and execution – to deliver a unified and customized client experience. The word “Praxis” has roots in Greek philosophy and is defined as the process of thinking, making and doing.
The newly re-named company’s approach will include business process experts on the front end, scientists to build algorithms and technology operations specialists to implement and integrate solutions with clients’ existing tech stacks.
Praxis CEO Bill Dwyer said, “Our company was born of the merger of vertical expertise and the application of advanced, customized technology solutions. Over the past two years, we’ve reorganized, built and brought on board additional resources to deliver a high-quality, all-inclusive framework that helps stakeholders identify areas of opportunity, develop tech-enabled programs and implement them. This allows our clients to operate more efficiently and effectively within an increasingly competitive environment. Praxis delivers the technologies and the critical application and support of those tools that enable asset and wealth managers to support their unique business needs.”
Over the past two years, Praxis has undertaken a number of internal actions to move forward with this realignment and rebrand. In addition to an expansion of the firm’s leadership team and board, including naming John Sweeney as president earlier in 2024, a broadening of core competencies and the elimination of unnecessary business lines, Praxis recently acquired Anchor Advisory Services, a scheduling, sales management and consulting solutions provider for the financial services industry, which provides Praxis unique feedback to inform its client support efforts.
Praxis board member and Distinguished Professor of computer science at the Department of Science and Engineering at UCSD, Dr. Henrik Christensen, said, “The past 30 years in technology were all about mass production, and the next 30 years will focus on mass customization. Praxis’s engineering and industry leaders have been deeply involved in these trends over the past three decades and position our team to take full advantage of this next wave to benefit the wealth and asset management industries.”
Dwyer, a veteran wealth management industry executive, added, “There has been an explosion of fintech SaaS providers in the marketplace. However, without the skills to customize and implement the solution for each business and the expertise to operationalize it, optimal solutions for our industry have been out of reach. We’re bringing together these elements into an integrated solution.”
