The best providers are identified and the app creates a customized due diligence document that includes broker-dealers’ required compliance language and disclosures. Advisors can select a provider for their client from within the app.
SigFig Platform Expands Advisor Platform Offering
The financial technology firm SigFig recently announced the launch of CoPilot, a digital wealth platform. SigFig partnered with Citizens Bank Wealth Management to create the platform, which automatically streamlines back-office administrative tasks for financial advisors.
CoPilot offers paperless account opening and on-boarding processes with enhanced client personalization features. The platform automates compliance processes including annual reviews and changes to a client’s risk profile and suitability.
Envestnet’s Tamarac Integrates With Wealth Access
Wealth Access, a data aggregator and client portal provider, recently announced an integration with Envestnet’s Tamarac, offering a platform that allows financial advisors a seamless experience moving between the two platforms.
The integration will allow Wealth Access’s financial advisor customers to use Tamarac’s portfolio management capabilities. Tamarac’s open application programming interface has been integrated into the Wealth Access client portal platform.
This allows RIAs to create a customized client experience for clients, while taking advantage of Tamarac’s portfolio management tools. Wealth Access aggregates information from over 20,000 financial services institutions and specializes in collaborative tools for advisors serving high-net-worth clients, according to the report.