Welcome to the July 2023 issue of Latest News from Financial #AdvisorTech. Here, we explore the big news, announcements, underlying trends and developments happening in the world of technology solutions for financial advisors.
This month’s issue begins with the news that Pershing X has announced the launch of its long-awaited (and newly renamed) “Wove” advisor technology platform. Despite claiming to be an open-architecture multi-custodian solution, the platform seamlessly integrates all the technologies advisors choose to implement, but in reality, Pershing’s It appears to be aimed at advisors who want to use a custodial and outsourced investment management solution and Wove’s suite of native or affiliated software tools…which may be particularly appealing as an “out” Pershing is probably trying to attract. “out of the box” solution for exit brokers, but the question is why parsing bothers to promote Wove’s open architecture features in the first place, given that they appear to differ from the platform? occurs. Do you actually do your best?
From there, the latest highlights also feature a number of other interesting advisor technology announcements, including:
- All-in-one software platform Blueleaf launches a new “Aggregation as a Service” solution, automating the process of weaving, promising better client data aggregation capabilities than existing solutions. many Consolidate sources to ensure cleaner data – however, given that they still rely on third-party aggregation providers that are prone to inaccuracies and account corruption, Blueleaf’s solution is ultimately what clients It remains to be seen if data aggregation will be the means to work.A long-unrealized possibility
- Nitrogen, a sales enablement and client success platform, has added a new set of enterprise-wide data analytics capabilities and a recent rebrand to help enterprise leaders compare the growth success and portfolio management of multiple advisors. Announced a new price range for midsize advisory firms to promote. It acts as a growth platform by providing more insights for companies to track and manage their growth (by multiple advisors).
- Vanilla, a real estate planning technology provider, pivoted from providing technology-enhanced documentation services to a standalone software solution for ‘property advisors’ that provides real estate visualization and forecasting tools for complex properties.However, fewer and fewer clients are subject to inheritance tax, and it remains to be seen how large the market is for advisors willing to pay for ongoing “property advisory” solutions, not just stand-alone estate planning. don’t know
Read this month’s column for an analysis of these announcements and a discussion of further trends in advisor technology, including:
- RIA firm Ritholtz Wealth Management is launching a new robo-advisor product that combines automated investment management with personalized financial planning (which integrates with the existing Liftoff robo-advisor solution to provide betterment for It may indicate an intention to move away from the Advisors platform (which would enhance its solution), highlighting how successfully Lytholtz has leveraged its media-driven marketing strategy to paying clients ( However, it is not clear whether Any Will other RIAs be able to implement their own robo-advisor solutions and replicate their success?)
- Of all the tools that have come out this year that incorporate artificial intelligence, the one that seems to get the most attention isn’t an advice recommendation engine or chatbot interface, but simply a “word calculator” that can generate text on a blank page. is. While we still can’t rely on AI to reliably answer our questions, this is useful for creating easily editable (and leveraging your own expertise) emails, social media posts, and other documents. The fact that it saves a significant amount of time for struggling advisors seeking help.
Please be sure to read to the end. We’re pleased to present an update to our popular Financial AdvisorTech Solution Map (and add changes to our AdvisorTech Directory).
*If you are a #AdvisorTech company wishing to submit a technical announcement for consideration in a future issue, please send it to TechNews@kitces.com.