Welcome to the January 2018 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 the Center for Research in Security Prices (CRSP) is working with Vanguard to put its Total Stock Market Index (along with several others) on a publicly available blockchain… which makes it feasible to instantly (and evenly) distribute updated index information to all market participants at once, and facilitate index implementation and maintenance at a far lower cost than today. For all the buzz of blockchain, this may be the start of an actual wave of new applications to put the cost-reducing technology to use in the advisory industry.
From there, the latest highlights also include a number of interesting advisor technology announcements, including:
- Quovo launches PFM modules to make it easier for financial institutions to quickly deploy client-facing account aggregation tools
- Risk tolerance assessment provider RiskPro is gaining traction with mid-sized broker-dealers by focusing on the compliance monitoring aspects of ensuring that client portfolios remain in line with client risk tolerance
- Fi360 launches an expanded version of its Fee Benchmarking tool for retirement plan advisors
- RetireUp announces that it is finalizing a patent on its real-time collaborative retirement projection tools… raising the question of whether the company is trying to patent a technique that is already in common use anyway, and the spectre of a years-old lawsuit between Wealthcare and MoneyGuidePro over a similar type of patent infringement case
This month’s Advisor FinTech news also includes a look at several new categories of emerging advisor technology, including industry-specific social media and digital marketing tools from Hyperchat Social, account-aggregated business intelligence tools from AdvisorClarity, and custom white-labeled chartbooks for advisors from Clearnomics.
And be certain to read to the end, where we take a retrospective look at just what a big year 2017 was for Financial Advisor FinTech from the perspective of new venture capital inflows, and what are likely to be some of the hot trends of 2018, including Direct Indexing 2.0 solutions, the rise of advisor technology as a product distribution channel, and the increasingly disparate demands of planning-centric versus investment-centric advisory firms when it comes to technology solutions.
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-january-2018/?utm_source=rss&utm_medium=rss&utm_campaign=the-latest-in-financial-advisor-fintech-january-2018
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