It was once again a busy week.
Oh, not just in wealthtech or wealth management, we just wrapped up spring break around here so in addition to following the industry happenings and working around a holiday, the parenting rodeo was going full blast all week. What fun! Now that the tykes are back in the classroom, we’re happy to wrangle and round up some advisor technology news.
And what a week it was.
A lot of publicly traded banks, brokers and other wealth management firms reported their first quarter financial results in the past week. Without going into too many of the gory details, the news was mostly good, but the impact of negative market volatility is definitely being felt in reports of assets under management, administration and custody. In most cases, wealth management revenues are down at least a couple of percentage points from Q4 2024, but up from Q1 2024.
The firms that grew revenues from increased AUM and AUA in the first quarter of this year, like Kestra Financial, seem to only have done so via mergers and acquisitions.
Wealthtech and fintech firms were also reporting results last week, led by very positive reports from the likes of Fiserv—perhaps the pain being experienced by wealth managers has yet to trickle down to advisor technology providers.
Elsewhere, we had a lot of wealth management news. For example, on the fundraising front, newly formed Fortage Capital Advisors, a Bloomfield Hills, Mich.-based wealth management firm, was staked by Elevation Point. Boston and San Francisco-based alternative investment advisor Cliffwater LLC received a minority investment from TPG and Temasek.
In mergers and acquisitions, Lido Advisors added $870 million AUM Menlo Park, Calif.-based BluePointe Capital Management. RFG added $500 million AUM Raleigh, N.C.-based TurnPoint Wealth. Arkadios Capital added $350 million AUM Chicago- and Florida-based KRM Investment Council. Cinncinnati-based DayMark Wealth Partners added $200 million AUM via a Chicago and Park City, Utah-based advisory team. SFA Partners added three different teams, totaling $200 million in AUM. Integrated Partners added $100 million AUM Creve Coeur, Mo.-based Albritton Financial Services, and Kestra Private Wealth Services added Worthington, Ohio-based Turas Wealth Partners.
There were also a number of notable hires and promotions. Independent Financial Group hired Realta and Advisor Group veteran Kevin M. Keefe as president and COO. Ft. Lauderdale, Fla.-based Sound Income Group hired Scott Clarke as Chief Experience Officer and Daniel Sheehan as Director of Life Insurance and Primary Advisor Coach. Newport Beach, Calif. Beacon Pointe Advisors added Michael Skillman as managing director of institutional consulting services. Sowell Management added Scott Dooley as managing director of investment management sales and Sabrina Freeman as director of finance and Trek Wealth Solutions. Also, this week UBS elevated advisor David Schachter to a managing director role.
Let’s move along to those wealthtech headlines.
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Altruist
Altruist, the modern custodian for RIAs, today announced $152 million in Series F funding led by GIC, a global institutional investor. Salesforce Ventures, Geodesic Capital, Baillie Gifford, Carson Family Office, ICONIQ Growth, and a select group of additional partners also participated. The round values the company at approximately $1.9 billion.
The funding follows a landmark year. In 2024, Altruist launched a suite of new products, including a high-yield cash account, automated and scalable tax management tools, and a fully digital native fixed-income trading experience. The company achieved triple-digit growth in key metrics like revenue, brokerage accounts, and advisors served.
Earlier this year, Altruist expanded its executive team by appointing Rich Rao as Chief Business Officer and Sumanth Sukumar as Chief Technology Officer, building on last year’s addition of Piret Loone as General Counsel. These leadership hires, together with third-party trading integration enhancements scheduled for later this year, reinforce Altruist’s strategic push into the enterprise market. The approach is already attracting larger, more sophisticated firms, driving average firm size up 43% year-over-year.
Broadridge
As retirement planning grows more complex and advisory firms seek scalable, enterprise-wide solutions, OneDigital Financial Services has selected Broadridge Financial Solutions, Inc. (NYSE: BR) to enhance advisor efficiency and support its expanding retirement business. The partnership brings Broadridge’s data aggregation, monitoring, reporting, and proprietary fund scoring capabilities to OneDigital’s national platform. Through this implementation, OneDigital’s advisors will gain more time to focus on helping plan sponsors run effective retirement programs, while the firm’s home office benefits from robust compliance oversight and business intelligence tools.
OneDigital will implement Broadridge’s suite of retirement solutions including; Retirement Data Aggregation, Business Intelligence services, Fiduciary Focus Toolkit, RFP director, Fee Benchmarker, and enterprise proprietary fund scoring solutions. OneDigital’s advisors will be able to take advantage of capabilities and benefits such as investment monitoring reports with integrated OneDigital proprietary fund scoring, improved fund evaluations; streamlined service provider searches; business management reporting; compliance oversight utilities; and access to aggregated data for held away plans across recordkeepers.
Broadridge will also integrate with OneDigital’s existing capabilities, including allowing OneDigital to create sophisticated custom fund scoring capabilities to deliver investment research to the firm’s advisors, the ability to tailor clear and well-designed reports in OneDigital’s branding as well as deliver retirement plan data aggregation to support the business intelligence needs of management and compliance teams.
CapIntel
CapIntel Inc., a leading provider of financial technology solutions, and Richardson Wealth Limited (Richardson Wealth), a wholly owned subsidiary of RF Capital Group Inc. (TSX: RCG) and one of Canada’s premier independent wealth management firms, announce a strategic partnership giving Richardson Wealth’s Advisory teams access to tools that will elevate their brand and their client, and prospective client, experiences.
CapIntel’s platform produces dynamic and customized client-facing proposals, allowing Advisors to communicate their value and investment philosophy with an elegant presentation. This tool provides a turn-key solution to an often time-consuming and challenging, yet critically important task, for Advisory teams.
As a wealthtech provider, CapIntel will be integrated with Richardson Wealth’s Advisor desktop platform to help create a long-term innovative practice management solution.
Concurrent Asset Management
Concurrent Investment Advisors, LLC (“Concurrent”), a multi-custodial hybrid RIA, today announced the launch of WealthSelect, a new investment platform developed by Concurrent Asset Management (“CAM”) to help advisors build more tailored, efficient, and client-centric portfolios.
Built to meet the growing complexity of wealth management, WealthSelect combines intuitive technology, institutional-grade strategies, and dedicated consulting support—giving advisors the tools and flexibility to deliver highly personalized investment solutions at scale.
The platform is built around three core components: WealthBlox, a modular suite of investment building blocks developed with an institutional framework together with leading global asset managers which lets advisors build and adjust portfolios in real time—aligning with client goals, income needs, risk tolerance, tax considerations, or broader market themes; WealthCIO, a hands-on consulting team that partners with advisors on advanced investment needs such as concentrated stock strategies, tax optimization, liquidity management, and private markets; and integrated technology, a user-friendly interface that streamlines portfolio construction, modeling, and reporting. It offers the efficiency of a turnkey solution while supporting bespoke strategies.
Earned Wealth
Earned Wealth, a leading tech-enabled financial services firm created specifically for doctors, their families, and their practices, today announced the acquisition of Chahal & Associates, a premier tax and accounting firm based in Hercules, California with a strong client base of ~2,200 doctors, business owners and high-net-worth professionals. This strategic move strengthens Earned’s position as the preferred financial partner for healthcare professionals and preferred acquirer for accounting, tax, registered investment advisors (RIAs) and insurance firms looking to scale by joining the most comprehensive doctor-focused financial platform.
This transaction represents Earned’s second acquisition in the past year since its 2024 growth investment of $200M from Summit Partners and Silversmith Capital Partners, expanding its tax planning and accounting resources and reinforcing its position as the premier one-stop shop for doctors’ financial needs. Earned now works with over 5,500 doctors, practices and medical enterprises delivering wealth management, investments, retirement plans, tax compliance and planning, accounting, and payroll — all through a seamlessly integrated platform and manages over $2.3B in assets under management.
For Navjeet Chahal, Founder and CEO of Chahal & Associates, the decision to join Earned was clear. After years of successfully serving doctors’ tax and accounting needs, he recognized the opportunity to deliver even greater value to his clients through an integrated wealth management and tax approach.
Edward Jones
With trillions of dollars anticipated to change hands across generations and a shortage of financial advisors to serve investors seeking financial advice and guidance, Edward Jones has reached key milestones on its multi-year journey to serve tens of millions of clients more completely.
Since rolling out in 2024, Envestnet | MoneyGuide – paired with deep discovery and personalized relationships – has enhanced Edward Jones financial advisors’ ability to offer tailored advice that aligns with clients’ preferences, goals and aspirations. Edward Jones believes clients engaging with MoneyGuide as part of their appointments with their financial advisor have higher confidence and satisfaction (Edward Jones internal research).
Underpinning these achievements is a continued commitment to accelerating progress in its multi-year journey to serve clients and branch teams more completely. Edward Jones announced today it will evolve key roles of its enterprise leadership team, effective June 1, 2025, to guide the firm through this next chapter of its journey, including Andy Miedler, who will continue as Chief Financial Officer and take on responsibility for leading the Data and Digital teams. Frank LaQuinta, Head of Digital, Data and Operations, will retire at the end of 2025.
FICO
iA Financial Group, a leading Canadian insurance and wealth management provider, serves over five million clients and manages close to $260 billion in assets. The company made the strategic decision to deploy FICO® Platform to advance and accelerate the automation of its underwriting process. This shift allows a large number of underwriting decisions to be made in real-time by leveraging FICO Platform. This strategic move solidifies its leadership in the mass- and mid-market individual life insurance sector in Canada.
Looking to strengthen its underwriting process, iA focused on expanding automation, speeding up decision-making, and enhancing the onboarding experience to support faster and more precise underwriting. By leveraging FICO Platform, iA has gained greater control over underwriting workflows, accelerating product implementation and enabling more refined risk assessments.
This strategic investment has provided iA with deeper insights and greater visibility into policy submissions, enabling them to optimize the application process and improve policy conversion rates. Additionally, FICO® Platform has strengthened iA’s ability to manage risk exposure while adhering to strict regulatory standards, in order to provide its clients with the peace of mind and confidence of having invested in sound and secure insurance products. This shift supports iA’s broader strategy of combining advanced digital technology with human expertise, reinforcing its leadership in Canada’s life insurance industry.
Finhabits
Finhabits, the leading bilingual consumer fintech platform in the U.S., launches Emma, an AI-driven financial planner designed to empower investors with 24/7, bi-lingual and culturally-nuanced financial guidance. Built on eight years of proprietary data, Emma is designed to help investors develop better financial habits and long-term wealth.
Emma is more than a chatbot—it’s a bilingual financial planner that helps users manage paychecks, reduce debt, and invest with confidence. It also powers the Finhabits Financial Well-Being Score, based on CFPB standards, enabling Finhabits to build one of the largest datasets on financial wellness in underserved communities.
Emma will also support Finhabits’ expansion into insurance and loans, using scalable AI to guide users across key financial decisions.
Hometap
Hometap, the Boston-based financial technology company pioneering home equity financing solutions for American homeowners, announced a partnership with financial education company iGrad to offer its Enrich financial wellness platform to invested homeowners. This strategic partnership enhances Hometap’s commitment to homeowner success by providing essential financial education resources that support better decision-making throughout the entire home investment journey and beyond.
Through this partnership, invested homeowners will gain free access to Hometap’s Financial Health Hub, powered by Enrich. This new platform addresses the critical connection between financial education and long-term homeownership stability that Hometap has identified through years of working with homeowners. The platform includes practical tools that homeowners can immediately apply to their financial habits: nearly 3,000 articles on essential topics like budgeting and credit management, plus over 500 instructional videos, interactive tutorials, and financial calculators. The content is personalized to each homeowner’s unique situation and enables them to build confidence, whether they’re planning for a successful investment settlement or strengthening their overall financial well-being.
This initiative comes at an important time when financial stress is a widespread concern. In a recent April CNBC survey, more than 70% of Americans said they feel stressed about their finances. For homeowners juggling daily expenses and long-term goals, that stress can be especially challenging. The 2024 TIAA Institute-GFLEC Personal Finance Index shows that financial literacy can help ease this burden, as individuals with stronger financial knowledge spend less time focused on their finances. This partnership provides homeowners with the personalized resources and financial education they need to reduce stress and feel empowered to make informed decisions, build stronger financial foundations, and work toward sustainable financial security.
Lynq
Arca Labs, Tassat Group, Inc. (“Tassat”), and tZERO Group, Inc. (“tZERO”) today announced the launch of Lynq, a real-time, yield-bearing settlement network powered by a tokenized treasury fund custodied at a special purpose broker-dealer. This announcement comes after more than a year of market engagement, platform development and the creation of the Arca Institutional U.S. Treasury Fund “TFND”, a tokenized treasury fund that issues shares as digital asset securities.
Scheduled for go-live in Q2, 2025, Lynq was developed in collaboration with leading digital asset institutions to deliver an efficient, scalable, and inclusive settlement solution. Lynq’s launch partners, which include B2C2, Galaxy (TSX: GLXY), and Wintermute, will assist with counterparty onboarding to accelerate network adoption and drive initial liquidity. Additional partners include U.S. Bank, which will provide treasury management services to the Lynq ecosystem and serve as Lynq’s qualified cash custodian, and Avalanche, which will provide the open-source Layer 1 blockchain network on which TFND shares will be issued and rebalanced.
Lynq aims to address the unique challenges of digital asset settlement, including market fragmentation, counterparty risk, and evolving regulatory frameworks, while returning yield to institutional clients. Lynq operates within a legal framework that leverages tZERO’s Broker-Dealer and Special Purpose Broker-Dealer licenses as well as Arca’s Registered Investment Adviser and Delaware Trust. This innovative architecture, paired with Tassat’s widely adopted, real-time blockchain infrastructure, provides clients with segregated account security, transparent proof of reserves, and broad ecosystem connectivity, all on a familiar and trusted platform.
Sherpas
Sherpas, an AI-native platform for financial advisors, today announced its public launch after operating in stealth. Founded by fintech leaders from LPL Financial and AllFunds, Sherpas is building the infrastructure layer for modern hybrid financial advice—where AI handles the heavy lifting, and human advisors bring the trust and expertise.
The platform automates the most time-consuming parts of the advisory workflow—turning financial data into personalized planning recommendations in minutes instead of hours. This allows advisors to scale advice delivery without sacrificing personalization or client connection.
Sherpas uses AI to automate the entire planning workflow—analyzing financial data, surfacing insights, and generating personalized proposals in real time. This automation cuts up to 80% of the work it takes to convert a prospect into a client—unlocking the ability to serve more households, including those that were previously too time- or cost-intensive to support.
Trua
Trua, a pioneer and leader in reusable, verified, digital trust credentials, today announced the launch of TruaBroker™, a cloud-based platform designed to automate regulatory compliance for financial institutions, broker-dealers and Registered Investment Advisors (RIA). Built on Trua’s patented Continuous Evaluation platform, TruaBroker offers real-time monitoring, identity verification and comprehensive compliance checks against authoritative sources, including Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC) and National Futures Association (NFA).
TruaBroker uses proprietary algorithms and AI to deliver continuous, automated verification of broker registrations, licenses, exam credentials, and disciplinary history. It enables secure onboarding into a centralized risk management system while providing real-time monitoring of authoritative sources to quickly identify potential compliance issues. Its risk detection tools help identify individuals who may pose a regulatory threat, while built-in analytics deliver actionable insights that allow firms to quickly verify alerts and respond to emerging issues.
TruaBroker integrates seamlessly with FINRA BrokerCheck, the SEC IAPD database and the NFA’s BASIC database, delivering automated alerts for noncompliance, civil actions and arbitration outcomes. It requires no software installation or IT integration, instead offering browser-based access with enterprise-grade encryption. Organizations can subscribe on a monthly basis and scale usage as needed.
Trust & Will
Trust & Will, the industry leader in digital estate planning, today announced a $4.5 million investment from Curql. The investment is part of Trust & Will’s Series C round and reinforces the company’s commitment to expanding access to estate planning for credit union members nationwide. With this addition, Trust & Will’s total Series C funding will exceed $32 million.
As an innovator in the financial services space, Trust & Will has helped more than one million Americans begin their legacy planning journey, and this strategic investment will enable even greater integration within the credit union ecosystem.
Trust & Will’s collaboration with credit unions began in 2018, evolving from a single partnership to working with more than 200 credit unions today. With this investment, the company is taking its commitment a step further by forming a Credit Union Service Organization (CUSO) – a structure widely embraced within the Curql ecosystem. Through this CUSO, credit unions will have the opportunity to invest in and offer specialized estate planning services tailored to their members’ unique financial wellness needs.
WiserAdvisor
WiserAdvisor, the original lead generation platform in the financial services industry, today announced the launch of WiserAdvisor Growth, a single marketing destination for verified digital leads and compliant client reviews for financial advisors and wealth management firms. Since the pandemic, WiserAdvisor has seen a 120% surge in lead volume, with 2024 marking its highest lead volume year yet. As consumer demand for financial advice increases and competition for digital leads intensifies, WiserAdvisor Growth provides a seamless way for advisors to attract, engage, and convert prospects through their network of high-quality leads, compliant reviews, and proven growth insights.
The launch includes key findings from WiserAdvisor’s 2025 State of Digital Leads Report, underscoring consumers’ growing preference for selecting an advisor based on their digital creditability and online presence. The report highlights that digital leads are often higher quality than most advisors expect, with the average lead being highly educated and retired or actively preparing for retirement.
As more firms turn to digital lead generation, competition has become fiercer, driving up costs and making differentiation more crucial than ever. The way advisors engage with digital prospects differs from traditional referrals, requiring tailored outreach strategies and a strong online reputation. WiserAdvisor Growth delivers the critical insights and tools advisors need to enhance conversion rates, optimize lead engagement, and prepare for seasonal lead spikes.
YCharts
YCharts, a leading investment research and client engagement platform trusted by financial professionals across North America, today announced the launch of Risk Profiles, a powerful new solution designed to bring clarity, consistency, and scale to portfolio recommendations.
The launch of Risk Profiles builds on ongoing momentum to enhance the proposal process for financial professionals. Recent updates from YCharts—focused on improving report customization and expanding access to proposal tools—have made it easier for advisors to create personalized, compliant proposals with greater efficiency.
Risk Profiles bring transparency and structure to proposal workflows by allowing advisors to assign model portfolios to defined risk levels—reducing manual effort and ensuring alignment with client preferences. The feature supports both firm-approved frameworks and advisor-defined profiles, giving practices the flexibility to customize their approach while maintaining consistency across reports.
