In this edition of the Wealthtech Roundup, we speak with our newest Wealthtech Leader of the Month, Arun Anur, Chief Operating Officer at Orion, who discusses how to use AI to improve the client experience.
Other entries include iCapital’s acquisition of Parallel Markets, Garuda Ventures’ investment in Archive Intel, Wealthtender’s marketing app, Savvy Advisors’ tripling of assets, wealth.com’s new marketing head, CapIntel’s partnership with Canada Life, AdvicePay’s rebranding and GReminders’ client milestone.
Larry’s Take
This month’s Wealthtech Roundup shows the continued infiltration of AI into client-facing processes offered by wealthtech firms. Orion’s new COO, Arun Anur, predicts that the next areas in which AI might prove useful are prospecting and account opening. News of AI applications by meeting and automation firm GReminders and Archive Intel, which uses AI in its compliance archiving solution, show that AI implementation is growing into diverse areas of the industry.
The payoff for clients is yet to be quantified industry wide. Almost every tech product these days – from portfolio analytics to plain old Microsoft Word – now boast AI functionality. In some cases and industries, such as software coding, it has proven a boon. In others, like human resources, it has encountered some controversy when involved in hiring and management decisions.
AI is well suited for wealth management. Small, repetitive and time-consuming tasks can be automated in an intelligent way, freeing up advisors to do what they do best – advise. The key is for advisors to not cede too much client-facing responsibility to AI. This could alienate some clients, especially if the AI’s intervention goes wrong – as it occasionally does in other industries. There will always be a premium on the human touch in the advisory business.
If you would like to discuss this Larry’s Take further, including how these trends might impact your business, please contact me at larry.roth@rlrstrategicpartners.com.
New Orion COO Discusses How To Use AI To Improve The Client Experience
Orion, a wealthtech solutions firm with a total of $4.7 trillion in assets under administration and wealth platforms managing $72.5 billion, appointed Arun Anur as Chief Operating Officer last month. Anur replaces Ryan Beach, who joined F2 Strategy as its Chief Executive Officer. As COO, Anur is responsible for Orion’s client experience, including service, operations, data reconciliation and onboarding.
Orion CEO Natalie Wolfsen told WSR, “Arun’s extensive industry background and deep operational expertise will help us forge even stronger relationships with our clients, ensuring that Orion continues to set the standard for powering advisor and investor success. We are delighted to have Arun join Orion and are confident that his expertise, strong leadership skills and strategic thinking will be instrumental in providing advisors with an exceptional service experience.”
And now for our Q&A with Arun Anur.
WSR: What are the key initiatives you’ll be developing in your new role to improve client experience delivery?
Anur: My focus is on delivering a consistently exceptional Orion service model by optimizing processes, services and onboarding to create raving fans. This will help Orion best serve our advisors, enhance efficiency throughout the company and better position us for future growth. We will begin to review several processes that impact our clients and start to automate them.
Our intention is to leverage AI where possible to automate, scale and invest back into the business. One such example is an interaction a client may have with a customer service representative – We will provide tools and automation to make that interaction much smoother and quicker.
WSR: How has your prior experience prepared you for this new role?
Anur: Having interacted with many large clients in the space gives me the ability to understand their pain points. Coming from a data company, I will use that experience to run our business in a KPI driven methodology and culture. Fundamentally, I will be continuing the mentality of client-first culture and making sure that this transcends into the Orion culture.
WSR: What are some lesser-known trends that you expect to emerge in wealthtech in 2025?
Anur: Embedding AI in several aspects of our business. While there is some AI being used in this space, there are several areas where it is extremely nascent. Two examples of this are prospecting advisors and account opening.
iCapital Buys Digital Identity Wealthtech Firm Parallel Markets
In its third acquisition of the past 12 months, iCapital agreed to acquire digital identity specialist firm Parallel Markets. Parallel Markets specializes in reusable financial identity and offers a scalable, end-to-end solution for financial services firms to conduct investor onboarding, verification and monitoring. The deal allows iCapital to roll out know your customer (KYC) and anti-money laundering (AML) passport technology for alternative investments designed to eliminate duplicative investor profiles and compliance checks, saving time and resources.
iCapital, which had $214 billion in global platform assets as of Dec. 31, will integrate its own onboarding and compliance monitoring processes with Parallel Market’s technology to offer turnkey onboarding for fund investors – institutional and wealth management – creating a universal reusable investor identity that the firm said can be used on iCapital Marketplace and the offerings on iCapital’s platform for global alternative asset managers.
“Onboarding and verifying digital investor identity and compliance is a major friction point in private markets investing,” said Lawrence Calcano, iCapital CEO and Chairman. “Parallel Markets has pioneered software that supports a reusable investor passport, streamlining these duplicative processes for advisors, investors, and fund managers. As we continue to evolve our tech stack, we will enhance automated entry for alternative investing and leverage AI and machine learning to offer a complete, intuitive end-to-end solution.”
Garuda Ventures Invests In AI Compliance Archiving Firm Archive Intel
San Francisco-based seed-stage venture firm Garuda Ventures has led a $1.5 million investment round for Archive Intel, the Atlanta-based developer of AI-based compliance archiving solutions for investment advisors. Existing investor Social Leverage of Scottsdale, Arizona, also participated in the round of financing.
Archive Intel had only been on the market for six months at year-end 2024 but already had accumulated 220 clients and over 2,000 users. It allows investment professionals and clients to communicate through multiple channels while providing for regulatory compliance.
“Archive Intel’s innovative platform and leadership team are well-positioned to shape the future of communication compliance,” said Rishi Taparia, Co-Founder and General Partner of Garuda Ventures. “We are excited to partner with Archive Intel as they redefine how financial institutions meet regulatory requirements.”
Wealthtender Launches Advisor Marketing App to Promote Client Testimonials
Austin, Texas-based financial advisor directory provider Wealthtender launched Testimonial Marketing Studio, a client review promotion app that allows advisors to use positive reviews in a regulatory compliant way. Wealthtender says it is visited by half a million consumers annually and that it is the industry’s first online reviews platform designed for regulatory compliance. The new system allows advisors to use positive reviews to convert prospects.
Testimonial Marketing Studio allows an advisor’s marketing staff to create compliant social media content quickly. This is far faster than the 15-40 minutes it could otherwise take, a Wealthtender client said. The time savings could translate into more posts and more potential conversions.
“Wealthtender pioneered the process and platform for advisors to compliantly collect and publish online reviews,” said Brian Thorpe, Founder and CEO of Wealthtender. “Today, we’re proud to introduce another industry-first with the launch of Testimonial Marketing Studio that lets advisors and their marketing colleagues compliantly promote client testimonials. By adding this innovative app to their tech stack, advisors gain a powerful new tool to increase their marketing initiatives’ effectiveness at a nominal cost.”
Savvy Advisors Triples AUM In 2024 Hitting $1 Billion
New York-based Savvy Advisors, the RIA subsidiary of Savvy Wealth, tripled its AUM in 2024 to hit $1 billion while hiring four new advisors to bring its advisor count to 40. The firm emphasizes human advisory relationships with clients while using AI powered tools.
Savvy’s platform offers high net worth investors personalized direct indexing, 401(k) account management, financial planning, tax preparation, alternative investments, estate planning, insurance and more. It includes an AI-based client relationship management system, digital client onboarding and lead generation.
“Savvy Advisors’ rapid growth is a testament to our belief in the value of human financial advice,” said Ritik Malhotra, Founder and CEO of Savvy Wealth. “As we onboard more advisors to the Savvy Wealth platform, we continue to learn more ways we can modernize wealth management. By providing innovative technology and solutions coveted by advisors, we help them deliver unforgettable client experiences.”
Wealth.com Appoints Bolton As Marketing Head To Lead 2025 Campaign
Tempe, Arizona-based estate planning solutions provider wealth.com named Dan Bolton, former Vice President of Corporate Marketing at Nitrogen, as Head of Marketing. Bolton will spearhead the firm’s marketing initiatives and brand evolution as the company enters its next phase of growth.
As part of this marketing push, wealth.com is launching an invite-only nationwide tour to show leading wealth management firms its estate planning solutions. It starts in San Francisco on February 27th at the GV (formerly Google Ventures) office and will provide hands-on training for wealth.com’s partners in the Bay Area. The event will also showcase wealth.com’s latest product advancements. Additional tour stops are scheduled for Chicago; Austin, Texas; and New York City.
“Under Dan’s leadership, we are excited to bring fresh, innovative ideas to our marketing efforts, delivering unparalleled opportunities to engage firms and advanced planning teams across the country,” said Rafael Lourerio, CEO and Co-Founder of wealth.com. “Dan’s proven track record in driving creative campaigns and building brand momentum will be instrumental as we continue to grow and transform the estate planning landscape. His leadership will help us craft extraordinary experiences that resonate with our clients, partners, and the broader wealth management community.”
CapIntel Partners With Canada Life On Portfolio Management Tool
Toronto-based CapIntel has partnered with Canada Life to offer the insurance, wealth management and benefits provider’s clients CapIntel’s interactive comparison and proposal tool, which allows clients to better understand their investment portfolios.
CapIntel’s system is designed to enhance client engagement, streamline workflows and improve portfolio analysis. CapIntel has been working with Quadrus since 2021 and has recently started working with Investment Planning Counsel (IPC), a subsidiary of Canada Life. IPC has experienced an adoption rate of 75% among its advisor network since 2024. Since 2021, the companies have used CapIntel tools to generate more than 107,000 client proposals.
“Through our work with Canada Life, we reaffirm our commitment to innovation and enhancing client-advisor experiences for individuals across North America,” said James Rockwood, Founder and CEO of CapIntel. “Through advanced technology and collaborative solutions, we aim to empower advisors and meet clients wherever they are on their financial life journeys.”
FP Alpha Unbundles FP Alpha TAX Product
New York City-based based FP Alpha, a wealthtech firm offering an AI-based wealth management planning system, has unbundled one part of the system, FP Alpha TAX, as a standalone product. The move is similar to its Estate Planning offering. Both are designed to allow advisors to tailor the technology to their specific needs. The company says its tax offering will be priced lower than its competitors.
FP Alpha TAX is meant to simplify tax planning, increase efficiency and deliver actionable insights. It can project, compare and optimize tax strategies.
“Unbundling our tax offering to create FP Alpha TAX is a game-changer for financial advisors who want to focus on delivering unparalleled value in tax planning,” said Andrew Altfest, Founder and CEO of FP Alpha and President of Altfest Personal Wealth Management. “Our tax planning tools empower advisors to efficiently tackle complex tax scenarios, saving time while enhancing the client experience. We’re thrilled to offer this flexibility and help advisors elevate their services in a meaningful way.”
AdvicePay Rebrands To Reflect Shift In Strategy
Bozeman, Montana-based AdvicePay, a platform for managing billing, payments and compliance for fee-for-service financial planners, changed its branding to reflect its evolution into a comprehensive platform for managing client relationships for broker-dealers, RIAs and solo practices.
The company’s branding now emphasizes its expanded suite of capabilities, including eSignature, billing and payments, engagement workflow, approvals and deliverables tracking. It includes a new logo, refined color palette and updated messaging. The company’s website and social media channels have also been updated to reflect the rebranding.
“Over the past eight years, AdvicePay has helped to transform fee-for-service planning into a mainstream segment of the industry, making it simple and straightforward for advisors to get paid for the value they provide,” said AdvicePay CEO and Founder Alan Moore. “I am proud of the work we’ve done to advance this critical part of the industry and wanted our brand to fully reflect the broader scope of our mission.”
GReminders Surpasses 2,000-User Milestone For Its AI Meeting And Automation Platform
Los Angeles-based GReminders, an end-to-end meeting and automation management platform for financial advisors, hit the milestone of 2,000 advisors using its AI-based solution to help improve workflows and daily firmwide operations. GReminders has over 450 RIAs using the software.
GReminders streamlines scheduling, automating processes with the goal of reducing workloads so advisors can focus on clients. It features automated scheduling, SMS reminders, an AI notetaker and embedded compliance.
“Our mission since day one has been to revolutionize advisors’ client interactions, streamlining lengthy processes and unlocking new efficiencies,” said Arnulf Hsu, Founder and CEO of GReminders. “Our solution allows them to focus on their most meaningful work: guiding clients to achieve their financial goals. The rapid adoption we’re seeing underscores the demand for tools that help advisors automate time-consuming tasks and improve their overall efficiency. We’ve also seen a retention rate upwards of 90 percent, which affirms the positive impact of our solution within firms.”
Julius Buchanan, Editor in Chief at Wealth Solutions Report, can be reached at julius.buchanan@wealthsolutionsreport.com.
