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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 November 26, 2018

WealthTech Weekly November 26, 2018

Morgan Stanley launches a new advisory technology platform to provide financial advisors with one dashboard for all services. DriveWealth has formed a strategic partnership with Trading Central to leverage common elements of…

WealthTech Weekly November 19, 2018

WealthTech Weekly November 19, 2018

New and expanded partnerships: BlackRock with CleanCapital, RightCapital with Commonwealth, Brinker Capital with AdvisoryWorld, SEI with Fusion Wealth. Addepar was honored by Morgan Stanley. Evestor is to launch a new brand ‘OpenMoney’. Betterment redesigns Advisor…

WealthTech Weekly November 12, 2018

WealthTech Weekly November 12, 2018

Empower Retirement plans to launch a new platform. GPS Wealth Management implemented Riskalyze. iCapital Network has got a strategic investment from JPMorgan Chase & Co.  AlphaCore Technologies releases a FinTech tool for intelligent investing.…

WealthTech Weekly November 5, 2018

WealthTech Weekly November 5, 2018

Australian IRESS launches a new client portal to improve client engagement. SigFig launches new advisor-focused platform with “coaching” tools. Marstone announced the launch of BlackRock Model Portfolio Solutions on its platform. eMoney Advisor…

WealthTech Weekly October 29, 2018

WealthTech Weekly October 29, 2018

DriveWealth partners with Verrency. Vestmark partners with Oranj. SS&C Technologies integrates ERS with its TRAC. SEI integrates with Advizr's financial planning tool. Advyzon integrates with Schwab OpenView Gateway. Riskalyze integrates with MyRepChat. Wealthfront offers retirement…

WealthTech Weekly October 22, 2018

WealthTech Weekly October 22, 2018

Fidelity launches a new company conceived to trade cryptos and a new digital marketplace to help advisors deepen existing integrations. Envestnet | Yodlee Risk Insight Solutions will be integrated with Freddie…

WealthTech Weekly October 15, 2018

WealthTech Weekly October 15, 2018

Last week, we saw many announcements of partnerships and integrations. TD Ameritrade introduced a new platform for financial investors. Robinhood launched its own trade-clearing system. Interactive Brokers now offers its PortfolioAnalyst tool…

WealthTech Weekly October 8, 2018

WealthTech Weekly October 8, 2018

DriveWealth has entered new business. Apex Clearing enables commission-free trading.  Finicity will share customer information with financial apps and services. The Wealthsimple Pension will help people to save for the future. Trustee Partners has rebranded…