#WealthTech / InvestCloud acquires cash flow firm Advicent to bridge advisor-client gap

Advicent, part of the Vista Equity Partners portfolio, provides financial planning technology for 140,000 financial professionals across nearly 3,000 firms worldwide. Through its NaviPlan platform, Advicent creates “scalable financial planning software”… It aims to help thousands of financial professionals and their clients “understand and impact their financial future”. InvestCloud specialises in digital platforms for theContinue reading “#WealthTech / InvestCloud acquires cash flow firm Advicent to bridge advisor-client gap”

#WealthTech / Fractional share trading platform Wombat raises £2 million

Founded in 2019, Wombat currently claims 62,000 users for its mobile-based trading platform, offering access to 31 popular stocks and 22 theme-based curated funds. Shares on offer include well known brands such as Apple, Tesla, Games Workshop, Ocado and Netflix. [Founder:]”A majority of people in the UK and Europe aren’t doing enough to save forContinue reading “#WealthTech / Fractional share trading platform Wombat raises £2 million”

#WealthTech / Nigerian wealthtech Cowrywise raises $3m

The digital wealth management and financial planning solutions platform aims to digitise investment management for Africans and enable access to savings and investment products securely. Cowrywise was co-founded by Ahmed Razaq CEO and Edward Popoola chief technology officer (CTO). The pair came up with the idea to found the fintech in 2017, after noticing thatContinue reading “#WealthTech / Nigerian wealthtech Cowrywise raises $3m”

#PFM / Inside personal finance app Albert’s ‘Genius Bar’

Personal finance apps like Albert tout a future where money management happens automatically with minimal human intervention. Bill payments, savings, investing, you name it – everything just happens in the background, while consumers focus on living their lives. [Albert] … makes team members called “geniuses” available to its 5 million customers 12 hours a day,Continue reading “#PFM / Inside personal finance app Albert’s ‘Genius Bar’”

#WealthTech / Wealthtechs lead the way with automated cash management

The marriage of day-to-day spending and long-term financial planning has been consummated in the wealthtech industry… existing relationships between short-term and long-term monetary matters are maturing… Wealthtech apps Betterment, Wealthfront and M1 Finance have rolled out features that automatically manage users’ cash beyond robo-advisor functionality, which invests money in stocks, bonds, mutual funds and ETFs.Continue reading “#WealthTech / Wealthtechs lead the way with automated cash management”

#WealthTech / Goldman Sachs, once reserved for the rich, is close to offering wealth management for the masses

Goldman Sachs has for decades set its sights on the global elite when it comes to wealth management. Now, it’s opening up to everyone else. The bank has begun internal testing of a new automated investment service ahead of a broader rollout early next year… Employees who sign on to the digital service, called MarcusContinue reading “#WealthTech / Goldman Sachs, once reserved for the rich, is close to offering wealth management for the masses”

#WealthTech / Trading analytics startup Tradefeedr raises $3 million

Tradefeedr allows clients to query and analyse their FX trading data from participating liquidity providers and ECNs via a standardised API, enabling them to improve the quality of their trade execution. Over the past year the startup has signed up 14 liquidity providers and a number of clients to use the platform, including Goldman Sachs,Continue reading “#WealthTech / Trading analytics startup Tradefeedr raises $3 million”

#PFM / MassMutual to acquire fintech Flourish to deliver ‘digitally-enabled’ financial planning

The acquisition will grow MassMutual’s product suite and will help the company to deliver “digitally-enabled financial planning”… Following the acquisition, Flourish will operate independently from MassMutual’s insurance and wealth management business but will leverage MassMutual’s resources and knowledge to expand the product offering. Flourish serves more than 350 RIAs that represent $600 billion of assetsContinue reading “#PFM / MassMutual to acquire fintech Flourish to deliver ‘digitally-enabled’ financial planning”

#WealthTech / Exclusive: ‘Power to the people’ – Adam Dodds, Freetrade in “The Fintech Magazine”

London-based Freetrade is a commission-free trading app that aims to get everyone investing. Founder and CEO Adam Dodds set up the company in 2015 after relocating from Canada as a manager with KPMG and discovering that the investment account options in the UK were archaic and clunky… … perhaps Freetrade’s most important innovative features areContinue reading “#WealthTech / Exclusive: ‘Power to the people’ – Adam Dodds, Freetrade in “The Fintech Magazine””

#WealthTech / JPMorgan is buying fintech start-up 55ip to help financial advisors offer tax-efficient portfolios

JPMorgan Chase said that its asset management division has agreed to buy a fintech start-up that helps financial advisors automate the construction of tax-efficient portfolios. [CEO of J.P. Morgan asset management:] “Advisors are increasingly seeking intelligent, automated tools to provide simplicity, scale and efficiency, and by acquiring 55ip we are accelerating our significant investments inContinue reading “#WealthTech / JPMorgan is buying fintech start-up 55ip to help financial advisors offer tax-efficient portfolios”