Welcome to the news highlights of the week.
What’s going on: Morgan Stanley puts to use impressive $460b to dominate wealth management, Upvest closes one of the biggest German Fintech funding rounds, The Lang Cat presents its MPS suitability tool, Dhan and smallcase unite to bring smallcases to investors, and Canadian Wealthsimple joins the layoff rush, all while wealth managers face new challenges. Let’s start in order.
Morgan Stanley plans to lure investors of all stripes to its new wealth management ecosystem. The company has unwrapped its ambitious Connected Client Journey just as a Cerulli report has revealed a relevant demand is out there. 60% of the surveyed significant wealth holders show interest in a kind of a consolidation opportunity similar to what Morgan Stanley prepares.
Read the full article here.
Upvest raises $42 million in the middle of prepping the basis for international expansion. Being one of the few lucky ones in Europe to hold all BaFin licenses for securities and crypto brokerage, plus custody, the financial institution closes one of the hugest German FinTech funding rounds in 2022.
Read the full article here.
The Lang Cat has introduced its managed portfolio service (MPS) suitability tool. With its help, advisors will be able to explore portfolio services and choose and showcase to their clients the most suitable ones.
Read the full article here.