Advisor Tech

The advisor-Tech segment has been bustling with deals, including new partnerships, mergers and more for the week of 6/9/21.

AdvisorTech-focused firms have been busy in the capital markets, doing M&A deals, raising equity and debt, pursuing bank licenses and jumping on the SPAC bandwagon.

Advisortech-focused firms have been busy in the last week raising capital, being crowned as unicorns and fueling consolidation in the space. Here is a roundup of the latest developments.

When Susan Theder of Advisor Group first launched MyCMO in 2017, it was the culmination of a clear vision: Creating a user friendly, integrated platform of digital marketing communications tools for independent financial advisors to adopt for the purposes of winning new clients while engaging with existing relationships.

After a year in which digital communications took center stage in enabling financial advisors to stay connected with clients and prospects, Advisor Group has announced new internal reporting on the results achieved by users of its MyCMO digital marketing platform.

Over the past decade, fintech has been shaped to a fair extent by two dueling forces: On the one hand, are those who believe the future is in the hands of DIY investors, empowered by advancements in robo-advice (think Betterment), online self-directed trading (think Robinhood), as well as consumer-facing financial planning tools like Personal Capital or Quicken.

The 10th Annual Smarsh Risk & Compliance Survey, which encompasses 450,000 professionals supporting more than $1.3 trillion in assets under management, emphasizes that the widespread and rapid shift to remote work models in response to the pandemic is unlikely to be fully reversed, with many wealth management firms likely to embrace large populations of remote employees going forward.

A fully integrated tech stack is the backbone of any financial services firm that wants to effectively communicate with clients and grow AUM. Unlike spreadsheets of the past, an integrated tech stack enables efficiencies, automate processes and eliminate duplication of efforts.

As the recruiting wars among independent wealth management firms continue to heat up, Digital Wealth News caught up with Jeff Nash, Founder and CEO of BridgeMark Strategies, to discuss the evolving role of technology in financial advisor transitions from one firm to the other.

Cybersecurity is a hot topic in the wealth management industry, but in all the conversation about major breaches and new security paradigms, one audience is usually left out: small broker-dealer firms and RIAs.