Following through from the private equity sale that led to its formation, Communify Fincentric has announced the release of its latest technology solutions for the wealth management sector.
The firm's new offering includes MIND, a set of data-driven applications that utilize deterministic artificial intelligence, and Digital Referrals, a tool designed to help advisors expand their client base through client-generated referrals.
MIND, which stands for Market Intelligent News Discovery, offers financial advisors personalized insights through a proprietary collection of smart applications. The platform relies on deterministic AI, which contrasts with probabilistic AI by providing precise and reliable insights. According to Communify Fincentric, MIND's tools help advisors strengthen client relationships and enhance workflow efficiency.
“The future of the wealth industry is personalization,” said John Wise, chairman and CEO of Communify Fincentric, said in a statement. “Communify Fincentric is bringing the future to life with a new era of digital communication solutions that can deliver truly engaging, customized personalization and do so with accuracy, at scale."
MIND offers over 140 real-time event triggers and more than 1,500 models, providing financial professionals with quick and relevant insights. The platform has already been adopted by several large wealth management platforms in North America, though it has largely operated behind the scenes until now.
Alongside MIND, Communify Fincentric is introducing Digital Referrals. This new tool simplifies the process of generating client referrals, utilizing behavioral science and personalization to automate referrals from existing clients. The company views this as a significant driver of growth for financial advisors, removing many of the traditional challenges associated with obtaining new client leads.
Communify Fincentric's new suite marks the company’s first public launch since its acquisition of Fincentric from S&P Global in August. At the time of that transaction, which also involved PE company Stellex Capital, the firm said it planned to expand both domestically and into international markets to "address the industry’s long-standing challenge of disjointed data sources and subpar digital user experiences."
Reflecting on the acquisition, Wise noted, “Our team realized early in 2024 that the potential of combining our expertise with that of Fincentric… would result in a substantial information gain for wealth managers.”
Wise was one of the founding executives at InvestCloud, which came to be controlled by private equity backers Motive Partners and Clearlake Capital with a combined 88 percent stake in 2021. The story at InvestCloud came to a head late last year, when a sudden shakeup in the company's leadership resulted in 12 executives including Wise walking out the door.
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
Streamline your outreach with Aidentified's AI-driven solutions
This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
