Welcome to the March 2023 issue of #AdvisorTech for the latest news in the financial industry. Here we cover the big news, announcements, underlying trends and developments emerging in the world of technology solutions for financial advisors.
This month’s issue brings news that Canadian financial planning software provider Conquest (founded by the former founder of NaviPlan) has raised $24 million (CAD) in private equity capital as it prepares to expand its reach into the United States. starts with . A technology-assisted capability that analyzes clients’ plans and suggests “next-best-decision” strategies that advisors recommend to clients hopes to enable them to tap into the crowded US market. Given the hassle of switching from one financial planning platform to another (and the fact that most advisors are generally happy with their current financial planning software from the start!).
From there, the latest highlights also include exciting advisor technology announcements such as:
- Asset-Map raises $6 million in Series B funding to expand its financial visualization tools for businesses amid growing demand for advisory engagement tools.
- Wells Fargo Advisors debuts LifeSync, an app-based tool that combines goal-based planning with the ability to monitor financial “vitals” as megafirms move further into large-scale proprietary advisory practices. increase
- Orion launches BeFi20. This is a behavioral financial assessment to support client conversations about money psychology (and identify financial attitudes of financially “matched” couples).
Read this month’s column for an analysis of these announcements and discussion of trends in advisor technology, including:
- Merrill Lynch rolls out a new turnkey video creation platform that enables advisors to record short videos that expedite compliance sign-offs (and, more impressively, centralize individual advisor content at scale). seems to have solved the problem of compliance approval on a regular basis).
- The popularity of ChatGPT has opened up a discussion about the potential role of artificial intelligence in the advisory world. And while some predict it may replace Advisor entirely, evidence of past technological advances suggests it will prove to be yet another tool for automating repeatable backs. suggesting. – and middle office tasks, allowing advisors to focus more Top notch project!
We also provided an update to our popular Financial AdvisorTech Solutions Map (and added changes to our AdvisorTech directory), so be sure to read all the way to the end.
*And if you are a #AdvisorTech company that would like to submit a technical announcement for consideration in a future issue, please send it to #AdvisorTech.TechNews@kitces.com!
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