Big moves
Morningstar has brought competing model portfolios onto its proprietary platform, expanding its investment choices for clients. This move is part of the firm's ongoing effort to provide a more extensive range of investment products and services to its clients. With the new feature, Morningstar expects to compete more effectively with other industry heavyweights.
Read more here.
Allworth Financial has snapped Kansas-based firm McDaniel Knutson Financial. Alongside the recent addition of two teams, this acquisition is part of Allworth Financial's ongoing strategy to expand in wealth management. More specifically, the new partnership promises significant growth to the company’s assets under management, among other things.
Read more here.
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Wealthtech First Rate has acquired InvestEdge's wealth platform assets to power up its wealth management solution. After the transaction, InvestEdge will exclusively offer its regulatory compliance software suite ComplianceEdge. The partnership will expand InvestEdge's reach in regulatory compliance and enhance First Rate's wealthtech platform capabilities.
Read more here.
Real estate investing platform Plotify has raised $12.5m in a series A funding round led by StageDotO Ventures. Plotify, providing ownership of residential properties in the US and UK with full-service management, will use the funds in several strategic directions. The company will increase its inventory of properties, expand the roll-out of its platform to a larger pool of investors on its waitlist, and build out its analytics and insights capabilities. The Series A round brings the total capital raised by the firm to $15.5m.
Read more here.
Bird’s eye view
The Objectway User Conference took place last week, highlighting some key trends in the Wealthtech industry. Among the main topics were the importance of collaboration and innovation in the industry. The conference showcased several cutting-edge technologies, demonstrating the growing importance of digital tools in wealth management.
Read more here.
Recent statistics from The Economic Times shows how wealth technology helps bridge the gap between retail investors and wealth managers. It’s no secret that Wealthtech solutions, such as robo-advisors, can offer cost-effective and accessible investment options to retail investors. But there’s more.
Read the full article here.
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