• WealthBar acquired Snap Projections to expand the advisor side of its business.
• eMoney Advisor concluded the 2019 eMoney Summit for planning-led financial advisory professionals.
• Human Interest announced the partnership with Zenefits to allow the latter to offer 401(k) or 403(b) to its clients.
• First Rate announced the relaunch of OnPoint, First Rate’s innovative reporting solution.
• Timelineapp Tech Limited announced the integration of its Timeline with SS&C’s Black Diamond Wealth Platform.
• InvestCloud has released Open CRM for use in the investment management industry.
• Schwab Advisor Services introduced the Schwab Alternative Investment Marketplace platform, which delivers a number of benefits for independent advisors.
• iCapital Network and Schwab Advisor Services announced an expanded relationship in which Schwab will provide shareholder servicing for funds serviced by iCapital.
• Aurora Private Wealth has joined Chalice Financial Network as a new enterprise member.
Snap Projections, a financial planning software startup, has been acquired by Vancouver-based wealth management company WealthBar Financial Services. Terms of the deal were not disclosed. Earlier this year, WealthBar, a fellow startup that was founded in 2012, was acquired by CI Financial, which offers global asset management and wealth management advisory services. Despite the acquisition, WealthBar continued to operate as a stand-alone business. The acquisition of Snap Projections is part of WealthBar’s plan to expand the advisor side of its business.
eMoney Advisor, a provider of technology solutions and services that help people talk about money, concluded the 2019 eMoney Summit, the industry’s premier event for planning-led financial advisory professionals, by showcasing product solution prototypes born out of the Summit’s Ideation Lab. Dedicated members of the eMoney product, development and design teams worked with a group of advisors to capture insights directly related to priority products and features already on eMoney’s roadmap, eventually presenting prototype solutions to all attendees to collect even more feedback
Human Interest, an online 401(k) and 403(b) provider, announced the partnership with Zenefits, one of the most innovative HR and payroll software and services providers. The company said this partnership will enable it to offer “no-touch” integration. That means businesses who use Zenefits’ payroll software will be able to offer a Human Interest 401(k) or 403(b) to their employees without any manual work that’s involved in managing a company’s retirement plan, such as updating contributions amounts, sending out compliance notifications, etc.
First Rate, a leading provider of wealth management solutions to the financial services marketplace, announced the relaunch of OnPoint, First Rate’s innovative reporting solution that enables firms to design unique client performance and analytical reports to tell your investor’s unique investment story. Originally launched in 2015, OnPoint was a finalist for the client reporting technology category in the WealthManagement.com awards for its flexible design, making it quick, easy, and cost effective to create branded, boardroom-quality statements that clearly communicate the value you add to your clients’ wealth management experience.
Timelineapp Tech Limited announced the integration of Timeline, its retirement income software, with SS&C’s Black Diamond Wealth Platform. The integration enables Timeline users to efficiently import client details and account holdings data from Black Diamond to create sustainable retirement plans. This integration empowers advisors using Black Diamond to assess the sustainability of withdrawal from drawdown portfolios, show clients how different scenarios may impact their portfolio, prepare clients for market volatility and highlight longevity risk. Once Black Diamond data is in Timeline, the retirement plan is 90% complete. Advisors can then work with their clients to decide on an appropriate withdrawal strategy and evaluate results.
InvestCloud, a platform for the development of financial digital solutions pre-integrated into the cloud, has released Open CRM, an enhanced customer relationship management system. Open CRM was created specifically for use in the investment management industry. The company also announced Integrated CRM, designed to overlay a client’s existing systems while leveraging the capabilities of the full version.
Schwab Advisor Services introduced the Schwab Alternative Investment Marketplace platform, which gives Schwab’s independent advisor clients access to third-party platform sponsors that offer menus of private funds. The new platform delivers a number of benefits for independent advisors, including removal of custodial fees, streamlined capital call processing, and access to third-party alternative investment funds.
iCapital Network, a financial technology platform for alternative investments, and Schwab Advisor Services announced an expanded relationship in which Schwab will provide shareholder servicing for funds serviced by iCapital. iCapital will be the first platform provider on the Schwab Alternative Investment Marketplace platform. The agreement will create an end-to-end, automated alternative investing process for advisors who utilize the Schwab platform.
Chalice Financial Network, an online member-based digital marketplace for independent, small- and mid-sized businesses that provides exclusive access to business, technology and client-service solutions, announced that wealth management enterprise firm Aurora Private Wealth has joined as a new enterprise member, giving their advisors access to Chalice’s array of resources and quality products.
Vasyl Soloshchuk is CEO and co-owner at INSART, a fintech and Java engineering company. Vasyl is also the author of WealthTech Club, which conducts research into Fortune 500 and start-up robo-advisor and wealth management companies.