AlphaTrAI, a San Diego-based provider of tech-enabled services for the wealth management industry, is rebranding as Praxis Solutions and reorganizing to set itself up for future growth, the firm announced.
The reorganization will enable Praxis to provide front-end technology services for wealth management firms that will build on financial firms’ existing technology and business practices, the firm said on Tuesday.
“Our company was born of the merger of vertical expertise and the application of advanced, customized technology solutions. Over the past two years, we've reorganized, built and brought on board additional resources to deliver a high-quality, all-inclusive framework that helps stakeholders identify areas of opportunity, develop tech-enabled programs and implement them,” Praxis CEO Bill Dwyer said in a statement.
The changes are designed to enable Praxis’ clients “to operate more efficiently and effectively within an increasingly competitive environment,” Dwyer said.
Part of the reorganization included the recent acquisition of Anchor Advisory Services, a scheduling, sales management and consulting solutions provider for the financial services industry.
The firm’s new name and direction culminate a two-year undertaking that built upon AlphaTrAI's roots in artificial intelligence to merge the creation and implementation processes, the company said. The name is rooted in Greek philosophy and means using a theory in a practical way.
“There has been an explosion of fintech software-as-a-service providers in the marketplace,” Dwyer added. “However, without the skills to customize and implement the solution for each business and the expertise to operationalize it, optimal solutions for our industry have been out of reach. We’re bringing together these elements into an integrated solution.”