AssetMark To Offer Philanthropic Services Through TIFIN Collaboration
AssetMark has begun to offer its advisors the ability to incorporate a number of philanthropic services as a result of a collaboration with AI wealth platform TIFIN.
With this new relationship, Concord, Calif.-based AssetMark can offer TIFIN Give to its advisors through its main platform. TIFIN Give, an AI-powered turnkey philanthropy platform, gives advisors access to education, a donor-advised-fund opening process, as well as a grant-making section.
AssetMark’s integration of TIFIN Give will give advisors seamless access to philanthropic services along with other tools. It will be easier for advisors to set up and manage charitable donations across generations, the firm said.
Dimensional Launches First-Ever Unified Managed Account
Austin, Texas-based Dimensional Fund Advisors has introduced its first-ever unified managed account (UMA) platform to grant financial advisors access to a variety of different investment vehicles, including its separately managed accounts and exchange-traded funds.
A unified managed account differs from a separately managed account in that the latter holds only securities while a UMA can hold different types of investment vehicles.
The Dimensional Fund Advisors unified managed account includes nine of the firm’s separately managed accounts as well as 38 Dimensional ETFs and more than 1,000 non-Dimensional ETFs. It will provide integrated, multifaceted tax management and operational efficiency and can help advisors build personalized asset allocations. It rebalances daily to return to the initial target allocation, the firm says.
Advisor360° Launches New Bulk Onboarding Capabilities
Wealth management fintech company Advisor360°, based in Weston, Mass., has introduced its newest digital onboarding service, Account Transitions. It will reduce the time it takes to repaper thousands of client accounts, helping advisors in transition.
Advisors repaper their clients when a significant change occurs, such as when the advisor switches firms or there is a major regulatory change.
Account Transitions speeds up the process it takes to collect and transfer client information during the onboarding process. It will help support the setup of up to 6,000 accounts in 90 seconds, according to the firm.
The new system collects and standardizes client and account data while detecting errors automatically. It also creates contacts for the customer relationship management program and drafts new account information.
Oasis Group Publishes AI Map For Advisors
The Oasis Group, a Monroe Township, N.J.-based consultant, has published an “AI WealthTech Map” that identifies 55 technology firms advisors can use throughout the life of a client relationship.
Interest in artificial intelligence is on the rise among advisors and many want to utilize it but don’t know how best to begin. The map highlights artificial intelligence solutions and AI-focused firms that work with the wealth management industry, the firm said.
It provides solutions for prospecting, note-taking, proposal generation, AI assistants, investment research and compliance solutions. It lays out the tools advisors need to convert leads into clients quickly.
The Oasis Group will regularly update the map to reflect the latest list of tech companies, the firm said.
Advyzon Partners With FINIAT To Help Advisors
Advyzon Investment Management, a Chicago-based turnkey asset management program, has forged a partnership with wealth management software provider FINIAT to provide advisors with turnkey trading for their client’s portfolios.
FINIAT will integrate its solutions with Advyzon’s trading abilities to offer advisors several benefits, including the ability to automate and personalize the portfolio management for each client, according to the firms.
Advisors will also have access to an intricate portfolio management solution that will consolidate the investment strategies and aim to improve the outcome for investors, the firms said.
The partnership is meant to help advisors scale their businesses, prioritizing client interactions while the system handles portfolio maintenance, the firms said.
Smarsh Launches Communication Capture Tool For ChatGPT Enterprise
Smarsh, a Portland, Ore.-based technology firm that captures and retains communications, has announced a partnership with OpenAI to bring its capture technology to ChatGPT Enterprise.
ChatGPT Enterprise is the business version of OpenAI’s ChatGPT, focusing on areas of interest to businesses. The communication between firms and ChatGPT Enterprise could be considered outside communication. Regulators do not require firms to monitor and maintain records of those conversations, but many believe they eventually will.
Advisors want to get ahead of that and put a system in place now to begin capturing and securing those communications, according to the firm. To accommodate them, Smarsh’s partnership with OpenAI will allow it to begin offering that communication technology service for those firms that use ChatGPT Enterprise.