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The latest in financial #AdviserTech — October 2021
FINTECH OCT 18, 2021
The latest in financial #AdviserTech — October 2021

This month’s #AdviserTech roundup includes Franklin Templeton’s purchase of O’Shaughnessy Asset Management and its Canvas direct index platform; Morningstar’s acquisition of Moorgate Benchmarks; Betterment for Advisors’ shift from TAMP to RIA custodian competitor; and the SEC’s inquiry into when fintech-driven nudges become bona fide investment advice.

RIAs should brace for technology disruption
RIAS OCT 15, 2021
RIAs should brace for technology disruption

Fintech experts say the next disruption could come from out of the blue, and that advisers should avoid embracing tech for tech's sake.

Do you have undisclosed crypto? If so, it's time to decide your future
OPINION OCT 15, 2021
Do you have undisclosed crypto? If so, it's time to decide your future

Claims that crypto is 'untraceable' and the 'perfect tax haven' have been exploded. Those who bought into this mythology have to decide what to do.

Merrill ramps up adviser training after record revenues in Q3
PRACTICE MANAGEMENT OCT 14, 2021
Merrill ramps up adviser training after record revenues in Q3

The new adviser development program is up and running with 750 advisers. Some of the new recruits could be already licensed to sell securities, but don't have a background in financial advice, according to the company.

3 keys to capturing Gen XYZ clients
PRACTICE MANAGEMENT OCT 14, 2021
3 keys to capturing Gen XYZ clients

Gen XYZ investors have been the most likely to drop their financial professionals during the pandemic, according to Fidelity Institutional research.

Head count down, Wells Fargo has 'underinvested' in independent advisers, CEO says
PRACTICE MANAGEMENT OCT 14, 2021
Head count down, Wells Fargo has 'underinvested' in independent advisers, CEO says

In July, Charlie Scharf said that indie brokers were 'underutilized.' In the latest quarter, the number of advisers declined 2.1%.

Pershing lures custody business with latest turnkey offering
RIAS OCT 14, 2021
Pershing lures custody business with latest turnkey offering

The new offering, called Pershing X, is headed by Ainslie Simmonds and will enable RIAs to outsource almost all of their practice management needs, like client relationship and investment management tools.

Former LPL adviser back in business after allegations of racism
RIAS OCT 13, 2021
Former LPL adviser back in business after allegations of racism

The broker-dealer cut ties with Eileen Cure in the wake of allegations of racism on social media. She is now part of a small RIA, Wealth Management of Kentucky.

First Republic recruiting slows in Q3
PRACTICE MANAGEMENT OCT 13, 2021
First Republic recruiting slows in Q3

After recruiting seven teams of advisers in the first half of the year, the bank added just one team over the summer, executives of the firm said on an earnings call.

Captrust takes a big bite out of Texas with latest deal
RIAS OCT 13, 2021
Captrust takes a big bite out of Texas with latest deal

The addition of Covenant Multifamily Offices expands Captrust's Texas footprint and adds $2.6 billion under management.

3 Questions to Ask to Power Up Your People Strategy
PRACTICE MANAGEMENT OCT 13, 2021
3 Questions to Ask to Power Up Your People Strategy

In 2020, many firms chose a steady-as-she-goes approach to compensation and staffing levels – but may face a major retention challenge as the “great resignation” wave engulfs America.

SEC to assess when 'psychological nudges' become recommendations
FINTECH OCT 12, 2021
SEC to assess when 'psychological nudges' become recommendations

Securities and Exchange Commission Chairman Gary Gensler said his agency will determine when digital engagement practices used by online platforms cross the line into investment advice.

A plan for yourself is a plan for the future of your firm
OPINION OCT 12, 2021
A plan for yourself is a plan for the future of your firm

The No. 1 reason given for the increase in advisory firm M&A is the desire to create a succession plan. Advisers nearing retirement should consider their alternatives.

Halo Investing raises $100 million
ALTERNATIVES OCT 12, 2021
Halo Investing raises $100 million

The platform, which provides structured notes, annuities and other investments, plans to use the funds to expand its product offerings.

Acorns to launch custom portfolios in push toward active investing
FINTECH OCT 12, 2021
Acorns to launch custom portfolios in push toward active investing

Active engagement is part of the fintech’s larger mission to incentivize healthy investing behaviors that align with customers' best interest, according to CEO Noah Kerner.

Vestwell names Rob Molchon CTO
RETIREMENT PLANNING OCT 12, 2021
Vestwell names Rob Molchon CTO

The digital record-keeping platform also promoted Ryan Anderson to chief product officer.

OneDigital hires CIO from Carson Group
RETIREMENT PLANNING OCT 12, 2021
OneDigital hires CIO from Carson Group

Saumen Chattopadhyay fills a role that had been vacant since former OneDigital CIO Jamie Battmer left the company in March.

Exposing clients to financial plans in unexpected places
OPINION OCT 11, 2021
Exposing clients to financial plans in unexpected places

American Express Co. believes a consumer may want to create a full financial plan, complete with toggles for job promotions and inflation as well as important life events. They're not the only company that thinks so.

The New Age of RIA Marketing
PRACTICE MANAGEMENT OCT 11, 2021
The New Age of RIA Marketing

A look at the evolving marketing landscape, and the five trends advisory firms must command to optimize growth in the next decade.

Morgan Stanley rep managing $200 million goes indie with LPL
BROKER DEALERS OCT 11, 2021
Morgan Stanley rep managing $200 million goes indie with LPL

The financial adviser Douglas Chin has affiliated with the independent broker-dealer through Gladstone Wealth Partners in Red Bank, New Jersey