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Redtail published the results from a survey entitled “Gen Tech” which tried to understand trends about technology usage across generations. Robinhood goes on filling key jobs as they prepare for a possible IPO next year. TD Ameritrade Institutional holds its first advisory-focused FinTech competition. BlackRock announced a strategic partnership with Envestnet. Nutmeg has launched a “socially responsible” investment theme for customers with general investment accounts and “individual savings accounts”.

Crypto assets are too risky for financial advisors to deal with, according to Joshua Brown, Ritholtz Wealth Management CEO.

Redtail

Redtail Technology (“Redtail”), a leading provider of client relationship management (CRM) solutions for financial services firms, published the results from a survey entitled “Gen Tech” which show that the majority (55%) of Gen-X and Baby Boomer financial advisory employees today use mobile devices and tablets to access their CRMs, at a percentage just ahead of Millennial employees. The survey polled more than 2,300 financial advisory professionals ranging from Millennials to Generation-Xers to Baby Boomers across the country in an effort to understand trends about technology usage across generations.

Find more here.

Robinhood

Robinhood made two big hires last week — key steps in its path to eventual IPO.

Robinhood just got one step closer to an initial public offering.

The stock-trading platform hired Amazon veteran Jason Warnick as its first-ever chief financial officer, Robinhood announced in a blog post. The company had been looking to fill the role as part of its long-term strategy to go public, Robinhood co-CEO Baiju Bhatt said in September. Find more here.

Robinhood Markets Inc. made its second big hire of the week on Thursday, naming CapitalG partner Gretchen Howard to lead operations. Find more here.

TD Ameritrade

TD Ameritrade Institutional to hold its first advisory-focused FinTech competition.

Three finalists have been chosen for TD Ameritrade Institutional’s first-ever competition for technology geared toward financial advisors and their clients. They are:

  • Emotomy submitted a risk assessment tool;
  • Derrick Wesley, the owner of iMar Learning Solutions, proposed a financial literacy application;
  • Dynamic Wealth Solutions seeks to use natural language processing to develop a voice-activated assistant.

Find more here.

BlackRock

BlackRock announced a strategic partnership with Envestnet which includes acquiring a $123 million equity stake and taking control of 4.9% of the company’s common stock, according to a statement. Envestnet also issued a warrant for BlackRock to purchase an additional 470,000 shares for up to four years.

Find more here.

nutmeg

Nutmeg has launched a “socially responsible” investment theme for customers with general investment accounts and “individual savings accounts”, or ISAs–an investment product that allows U.K. savers to sock money away tax-free. The theme primarily uses environmental, social, and governance screens to invest in stocks and ETFs. Investments are selected based on 10 different financial risk levels.

Find more here.

Crypto Assets

Josh Brown: Until custody risk is eliminated, crypto assets aren’t for wealth managers.

Joshua Brown, Ritholtz Wealth Management CEO, was back this year hosting a crypto and blockchain panel discussion. The big takeaway from the event: Until custody risk of crypto assets is virtually eliminated, the new asset class isn’t one financial advisors will ever deal in on behalf of retail investors. But advisors should nonetheless educate themselves about crypto assets because their broader relevance is a question of when, not if, according to some prominent wealth managers.

Find more here.

WealthTech Weekly April 15, 2019

WealthTech Weekly April 15, 2019

Broadridge launches Broadridge Securities Lending Board Insights. PIEtech launches MoneyGuideElite. Betterment partners with Goldman Sachs and BlackRock. YCharts partners WealthManagement.com. Finicity partners with Pulte Mortgage. iCapital Network was recognized in…

WealthTech Weekly April 8, 2019

WealthTech Weekly April 8, 2019

Additional Tamarac services to the users of PortfolioCenter after Envestnet | Tamarac® acquires it. LifeYield's asset location technology will be available to Mercer Advisors' 40 regional offices and centralized investment team. Vestwell Holdings raised…

WealthTech Weekly April 1, 2019

WealthTech Weekly April 1, 2019

SoFi collaborates with Delos to give homeowners access to Delos' home wellness solutions. Robinhood acquired MarketSnacks, a financial news podcast and newsletter. SigFig launched SigFig Atlas, a platform for banks and…

WealthTech Weekly March 25, 2019

WealthTech Weekly March 25, 2019

Interactive Brokers releases a new product. Morgan Stanley partners with iCapital. Wealthsimple partners with H&R Block. Empower Retirement will deliver advisory services to workers. Envestnet acquires PIEtech. Broadridge Financial Solutions…

WealthTech Weekly March 18, 2019

WealthTech Weekly March 18, 2019

Itiviti launches unified offering following merger with Ullink. Stash launches a rewards program to bridge banking and investing. Entreda launches Unify 360 Concierge Service for cybersecurity. Wealthsimple launched a commission-free stock-trading mobile app. Oranj…

WealthTech Weekly March 11, 2019

WealthTech Weekly March 11, 2019

Chalice Financial Network forms a strategic partnership with Orion Advisor Services. TS collaborates with BIDS Trading and releases the QUO platform for managing investments. Axos Securities acquired WiseBanyan Holding and its subsidiaries. AssetMark…

WealthTech Weekly March 4, 2019

WealthTech Weekly March 4, 2019

AdvisorBid launches public profiles for all registered investment advisors. Envestnet Insurance Exchange is entering its pilot phase with financial advisors. AssetMark integrates Redtail data with its platform to simplify the client onboarding…

WealthTech Weekly February 25, 2019

WealthTech Weekly February 25, 2019

Portfolio Pathway partners with Shareholders Service Group. Vestwell partnered with OnPay. United Capital’s FinLife Partners has now 85 firms nationwide. Broadridge Financial Solutions released a study about communications with advisors.…