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Betterment launched its own fee-free, high-yield savings account with one of the best rates on the market. Envestnet announces improvements to MoneyGuide’s MyBlocks. Moody’s Analytics won the award for Best Reporting System Provider in the 2019 Waters Rankings. MoneyLion announced $160 million in funding. FlexTrade Systems’ solution FlexTRADER EMS has been certified for integration with thinkFolio. DriveWealth partners Vested Finance to give Indian retail investors digital access to the US equity markets. Betterment and Wealthfront revive rivalry with high-yield cash accounts. Swell shuts down its retail impact investing platform.

Betterment

Betterment the online investing platform and virtual financial adviser Betterment debuted a high-yield savings account, rivaling those of its online competitors. Betterment just launched its own fee-free, high-yield savings account with one of the best rates on the market: 2.69%.

Find details here.

Moody's Analytics

Moody’s Analytics, a global provider of financial intelligence, has won the award for Best Reporting System Provider in the 2019 Waters Rankings. They earned this recognition for their regulatory reporting solution.

Find details here.

FlexTrade Systems

Broker-neutral technology firm FlexTrade Systems announced that its solution FlexTRADER EMS has been certified for integration with thinkFolio, the investment management platform provided by IHS Markit.

The certification means thinkFolio clients can access FlexTRADER’s functionality which offers a customizable execution management system (EMS) with pre-defined trading strategies and tactics for portfolio and single stock trading across all asset classes.

Find details here.

DriveWealth

DriveWealth has joined forces with Vested Finance to give Indian retail investors digital access to the US equity markets, reports Jane Connolly.

With its patent-pending real-time fractional share trading capabilities, DriveWealth aims to make the US stock market available to investors everywhere at an affordable cost.

Find details here.

Swell Investing

Retail impact investing platform Swell says it was “not able to achieve the scale needed to sustain operations in the current market,” and is ceasing operations Aug. 30.

Customer acquisition has been a challenge for new entrants in retail impact investing, despite market demand for accessible sustainable investing options.

Find details here.

Envestnet

Envestnet announces improvements to MoneyGuide’s MyBlocks.

Advisors interested in using MyBlocks to attract prospective clients can send custom links via email and social media, or include the link of their website, which will direct potential leads to the first portion of the a la carte financial planning application.

Find details here.

MoneyLion

Financial services company MoneyLion announced $160 million in funding, a combination of $60 million in previously unannounced funding and a $100 million Series C round, according to a company announcement. The round was co-led by Edison Partners and Greenspring Associates, with Capital One and MetaBank also making an investment.

Find details here.

Research

Betterment and Wealthfront revive rivalry with high-yield cash accounts.

The robo advice industry’s old school rivalry is back. The push for bigger client wallet share among digital advice players has seen almost every brand bolt on checking and savings accounts in the last few months.

Find details here.

WealthTech Weekly August 12, 2019

WealthTech Weekly August 12, 2019

Apex Clearing releases its inaugural Apex Millennial 100 report. Moody’s Analytics won Wholesale Modelling Software of the Year. DriveWealth partners Revolut. SPS Family will be deploying the XtivaCloud SPM platform. Envestnet is running…

WealthTech Weekly August 5, 2019

WealthTech Weekly August 5, 2019

Chalice launches the Reg-BI Readiness Platform. AdvicePay launches a fee calculator. Northern Trust Asset Management acquires Belvedere Advisors. Moody’s acquired RiskFirst. Wealthsimple selected Xignite to power its Wealthsimple Trade app. Interactive Brokers joins Tradesocio’s liquidity…

WealthTech Weekly July 22, 2019

WealthTech Weekly July 22, 2019

DriveWealth launches WealthSeed, an alternative platform to traditional employer-sponsored plans. TradingScreen's EMS has been certified for integration with thinkFolio. Birch Grove Capital selected ClearStructure's Sentry PM as its portfolio management solution. Advisor Group introduced…

WealthTech Weekly July 15, 2019

WealthTech Weekly July 15, 2019

Xtiva launches Xtiva Connect integration service. Voya Financial Advisors launches a new digital advice platform. Chalice Financial Network has launched Succession Link 2.0. Cetera Financial Group launched a retirement income-focused tool. DriveWealth with IPJukebox…

WealthTech Weekly July 8, 2019

WealthTech Weekly July 8, 2019

Xignite, Inc. joined the Snowflake Data Exchange data marketplace. DriveWealth is launching a new digital U.S. equities trading product for retail investors in Nigeria. Personal Capital surpassed $10 billion in AUM. Analytics: Advisors who…

WealthTech Weekly July 1, 2019

WealthTech Weekly July 1, 2019

Broadridge partners with Preqin. Shareholders Service Group (SSG) partners with Blueleaf. People’s United Bank has chosen Xtiva as its Incentive Compensation Management solution. Apex Clearing Corporation partners Apex Crypto. RightCapital integrates with the CircleBlack's…

WealthTech Weekly June 24, 2019

WealthTech Weekly June 24, 2019

CAIS is partnering with Private Client Resources (PCR). Addepar entered into a reseller partnership with Mirador, LLC. Insurance Technologies partners with Fiduciary Exchange (FIDx) to deliver annuity illustration and e-application sales capabilities within…

WealthTech Weekly June 17, 2019

WealthTech Weekly June 17, 2019

First Rate announced the launch of IPAAS, Investment Performance as a Service. Health savings account customers of Optum Bank can now use Betterment. Addepar launches its mobile app for iPhone. Orion Advisor Services announced progress in integrations with three…