Dispatch on Thursday announced the launch of Advisor Transitions, a software solution that the wealthtech firm said was designed to help transition advisors, client accounts and client assets between firms.
With the launch, Advisor Transitions becomes the fourth core workflow on the firm’s data platform, following account opening, client onboarding and real-time data synchronization, the firm said.
Dispatch provided “select transitions capabilities” – but no pilot programs – “over the past couple of years, but now that we’ve fully built the comprehensive suite, we’re launching it more broadly,” Madalyn Armijo, COO and Co-Founder of Dispatch, told Wealth Solutions Report by email.
Those transactions included full re-paper transitions; protocol and non-protocol transitions; Fidelity, Pershing and Schwab accounts; and firm forms, she noted.
She added, “As we’ve rolled out the various pieces, we’ve made them available to select firms in our client base. Today, we have about 10 firms (each with $25B+ AUM) using some aspect of Transitions, and we plan to roll it out to the rest of the client base in the coming weeks/months.”
The launch comes as the wealth management sector undergoes what Diamond Consultants recently called a significant, “accelerated” surge in advisor movement that was seen last year as 11,172 advisors with over three years of service changed firms or platforms. That was a 16.2% increase from 2024, Diamond Consultants said in its fourth annual Advisor Transition Report.
RIAs, broker-dealers and aggregator platforms are onboarding advisors and client assets at an “unprecedented pace, increasing demand for infrastructure that can support faster, more scalable transitions without disrupting operations or the client experience,” Dispatch said, citing the findings of Diamond Consultants.
“Transitions are among the most operationally complex workflows in wealth management, and until now, the industry hasn’t had purpose-built software to manage them on,” Rob Nance, CEO and Co-Founder of Dispatch, said in a news release.
He added, “Firms have been forced to choose between a custodial program they may not qualify for and a manual process built on spreadsheets and people. We built Transitions to give them a third option.”
Advisor Transitions takes, standardizes and cleans unstructured client data from source systems and documents, applying proprietary AI to merge, match and reconcile records across custodians, CRMs and financial planning tools, according to Dispatch.
The firm added that Advisor Transitions lets teams generate firm and custodial forms for client signatures, open parallel accounts with multiple custodians and keep data synchronized across the firm’s tech stack. It said that the solution reduced transition times to a quarter of what was previously needed, reduced not-in-good-order (NIGO) rates by 90% and decreased onboarding time from five hours to 30 minutes for complex household onboarding.
“Dispatch allows us to accomplish more with the same people,” according to Rob Gaudio, Head of Operations at Sanctuary Wealth. “In a recent protocol transition, we moved more than $200 million in client assets onto the Sanctuary platform in less than two weeks.”
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
