Welcome to the December 2019 issue of the Latest News in Financial Advisor #FinTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors and wealth management!
This month's edition kicks off with the blockbuster news that Charles Schwab will be acquiring TD Ameritrade in 2020, which sets off not only a seismic shift in the competitive landscape for retail brokerage and RIA custodial platforms but also raises substantial questions about the future of advisor FinTech innovation in a world where the majority of such startups in recent years have built first to TDA’s VEO platform as an initial go-to-market strategy… which may or may not remain viable if Schwab folds VEO into its own (much-harder-to-get-onto-the-integration-roadmap) OpenView Gateway platform.
From there, the latest highlights also include a number of other interesting advisor technology announcements, including:
- Newly Proposed Regulations to update SEC advertising rules and permit advisors to steer clients towards third-party review sites could spawn a slew of new Advisor Ratings platforms
- Envestnet’s Tamarac integrates with FIX Flyer as more and more large RIAs look for trading efficiencies in a multi-custodial world
- MaxMyInterest launches a 1.00% APY high-yield checking account (to couple with their even-higher-yielding savings account) for advisory firms to offer their clients
- Goldman announces that it is gearing up a new pricing strategy for United Capital’s FinLife CX technology to support the distribution of Goldman proprietary solutions
Read the analysis about these announcements in this month's column and a discussion of more trends in advisor technology, including the launch of BidMoni’s FiduciaryShield platform to help advisors support (and prospect for) 401(k) plans, LoanBuddy's launch of a new advisor dashboard and enterprise pricing as student loan planning as demand begins to rise for student loan planning tools, the launch of a new “AdvisorEpisodes” platform by three former Riskalyzers to provide advisory firms ready-made short videos to share on their social media channels, and JourneyGuide's launch of a new retirement planning software platform with the novel approach of illustrating, in the planning software itself, whether a particular annuity product actually improves the client’s long-term financial plan (or not)!
And be certain to read to the end, where we have provided an update to our popular new “Financial Advisor FinTech Solutions Map” as well.
I hope you're continuing to find this column on financial advisor technology to be helpful. Please share your comments at the end and let me know what you think!
*And for #AdvisorTech companies who want to submit their tech announcements for consideration in future issues, please submit to [email protected]!