Welcome to the October 2017 issue of the Latest News in Financial Advisor #FinTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors and wealth management!
This month’s edition kicks off with the big news that Envestnet is acquiring FolioDynamix, in a “mega-deal” that will bring Envestnet’s total platform assets to a whopping $2 trillion, with substantial growth opportunities to convert FolioDynamix’s largely-commission-based broker-dealer users into the fee-based world.
And continuing the theme of large-enterprise industry consolidation, also in the news this month is the announcement that iPipeline – a form-filling software platform in the life insurance and annuity channels – is acquiring Laser App (which provides form-filling tools to RIAs and broker-dealers) to form a mega-provider of digital forms with supporting e-signature and e-delivery capabilities for financial advisors across the entire range of financial services products.
From there, the latest highlights also include a number of major new product and feature rollouts this month, including:
- Fidelity launches its Automated Managed Platform (AMP) robo-advisor-for-advisors solution, which it is differentiating from other “robo” tools with its deep integrations to eMoney Advisor and a financial-planning-centric onboarding experience
- eMoney Advisor launches its own Advisor Branded Marketing (ABM) solution, which is starting with a library of 2,000+ pre-written articles that advisors can share via email and social media (but at a higher price point that similar competing services)
- YCharts launches a new YData service that will scour the internet for unique Corporate Events information which are distributed to YCharts users as a proprietary data feed
- FinFolio launches its FinFolio 2.0 software, providing its own interface to the underlying portfolio management tools it is also making available as REST APIs via Wealthlab.io
- Mineral Interactive launches the first “Prospect Portal” for financial advisors to use in the process of marketing to and onboarding prospects (unlike most portals that are built primarily for advisors to use with their existing clients).
You can view analysis of these announcements and more trends in advisor technology in this month’s column, including the launch of United Income and its next generation of retirement planning software tools (which will only be available to its own advisors!), the news that compliance technology and consulting provider RIA In A Box won the Orion Fuse Hackathon “Best In Show” award for the 3rd year in a row (a powerful reminder the advisor #RegTech still has substantial opportunities!), the announcement of a new Yodlee “FinCheck” app that may finally provide financial advisors a PFM solution that facilitates advice on spending and cash flow, and the pre-announcement of a new advisor integration hub from Advisor Innovation (AI) Labs that aims to finally solve the advisor woes of disparate software solutions with data that doesn’t flow effectively from one to the next!
I hope you’re continuing to find this new column on financial advisor technology to be helpful! Please share your comments at the end and let me know what you think!
*And for #AdvisorTech companies who want to submit their tech announcements for consideration in future issues, please submit to TechNews@kitces.com!
source https://www.kitces.com/blog/the-latest-in-financial-advisor-fintech-october-2017/?utm_source=rss&utm_medium=rss&utm_campaign=the-latest-in-financial-advisor-fintech-october-2017
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