Advisor360, the wealthtech software company spun off from Commonwealth Financial Network, named Richard Napolitano as chief executive officer on Tuesday.

Napolitano, who brings engineering  and sales experience from EMC and Dell, will focus on bringing Advisor360 to advisors. His 30-year career has included stints at Data Kinesis, acquired by Adaptec; BluePoint Technologies, acquired by Adobe; Plexxi, acquired by HP Enterprise; Pirus Networks, acquired by Sun Microsystems; and Napcon Asssociates.

Advisor360 was developed over two decades at Commonwealth before being spun off as a wholly independent entity in 2019. Today, it combines CRM, performance reporting, financial planning, trading, model management, rebalancing, operations, workflow analytics, document imaging and a client portal in one unified software-as-a-service offering that Advisor360 claims is the only one of its kind.

“Investors today have more advisory options than ever before, and competition for assets and share of wallet is fierce. Wealth management businesses of all sizes must put a focus on driving top-line revenue, and this starts at the individual advisor level,” said Napolitano in released comments. “Integrated, holistic technology tools play a direct role in profitability and improved financial outcomes. I’m excited to be bringing my background in enterprise development and go-to-market focus to Advisor360° and the wealthtech segment.”
 

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