Technology is undeniably making our work easier and more productive across the wealth management industry, but at the same time, there’s always hype and unrealistic expectations about the cutting edge. To distinguish reality from fiction in the rapidly evolving intersection of AI and regtech, we bring you the views of experts from Essential Edge, CogniCor and Docupace.
This week, we also have our Deals & Recruiting Roundup; a Dynasty executive and affiliates on serving women clients; Practifi on enhancing CRMs; PureFacts’ new president; a collaboration on alts among BlackRock, iCapital and GeoWealth; Vestmark’s moves in the advisor space; Kestra’s $1.4 billion recruit; and TradingBlock’s custom trading algorithms.
Deals & Recruiting Roundup: This edition covers Hightower investing in Financial Planning and Information Services, Neuberger Berman taking a large minority stake in Mariner, Lido Advisors acquiring Platte River Wealth Advisors, MAI Capital Management acquiring Hyperion Partners, Cerity Partners merging with Paladini Financial Management, Kestra Financial recruiting Wealth Empowerment Financial Strategies, Compound Planning adding five advisors, Homrich Berg bringing on a Florida-based family office advisory team, Cresset appointing Jessica Malkin as Chief Growth Officer and RBC Wealth Management recruiting two teams from Morgan Stanley.
Serving women: To gain a better understanding of how to serve female clients, we spoke with Casey Jorgensen, Head of the Dynasty Institute of Adaptive Leadership at Dynasty Financial Partners, and three women professionals at affiliates of Dynasty Financial Partners: Adrianna Stasiuk, Partner and Investment Advisor at Aaron Wealth Advisors; Michelle Smith, CEO of Source Financial Advisors; and Maggie Bilby, Vice President at Cyndeo Wealth Partners.
New president appointed: PureFacts Financial Solutions appointed industry veteran Pete Hess as President. Robert Madej, the firm’s Founder and CEO, previously held the position of President.
Maximizing your CRM: Tim Highland, Head of Product Strategy at Practifi, discusses specific steps advisory firms need to take to maintain and enhance their CRM platforms to get the most out of them.
Is AI in regtech for real? We ask three leaders in compliance and AI whether enthusiasm for AI in the regtech space has come to fruition or been overblown: Sindhu Joseph, CEO and Co-Founder of CogniCor; Sander Ressler, Co-Owner and Managing Director of Essential Edge; and Michael Zebrowski, Chief Operating Officer of Docupace.
Alts in UMAs: A collaboration announced by BlackRock, GeoWealth and iCapital uses iCapital’s technology to provide a custom platform for RIAs, enabling firms using GeoWealth to more easily include private assets within UMAs. Colin Falls, CEO of GeoWealth; Jaime Magyera, Co-Head of U.S Wealth Advisory for BlackRock; and Lawrence Calcano, Chairman and CEO of iCapital, provide comments.
Targeting the advisor space: At the recent MMI conference, we sat down with Vestmark’s CEO Karl Roessner and Chief Revenue Officer Ananya Balaram to discuss the firm’s buildout of functionality and services for financial advisors, as well as its investments in AI and its leadership team.
Florida recruit: Kestra Financial announced that it added Boca Raton, Florida-based Wealth Empowerment Financial Strategies, overseeing $1.4 billion in AUM, to its network of independent wealth management firms. Formerly with B. Riley Wealth Management, WEFS is led by Eric Lyon, Senior Managing Director and Founder, and Tom Holly, Senior Managing Director. Lyon and Daniel Schwamb, Executive Vice President of Business Development at Kestra Financial, provide comments.
Custom trading algos: TradingBlock announced that it added customizable order-routing algorithms to its platform, which will maintain confidentiality of the trader-designed algorithms and provide order routing redundancy. Gino Stella, Institutional Trading Manager at TradingBlock, provides comments.
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