Riskalyze Fintech Report Card: December 2021


    Fidelity and Envestnet add structured notes

    What happened: Simon Markets, a structured bond platform, has partnered with both Fidelity Institutional and Envestnet to provide advisors with access to its stable investment products.

    Why it matters: Simon split from Goldman Sachs in 2018 and has been building structured debt capabilities for years, but these investment solutions are not easy to access. For one thing, they are constantly rolling and new ones are emerging. Second, each flavor of a structured note is slightly different from another and can bring very different risks and potential rewards. It’s great to see Simon and their competitors like Halo break through this suite of investment solutions.

    Disclosure: Envestnet and Fidelity are Riskalyze integration partners and Riskalyze provides analytics and access to structured debt products through its partnership with Halo.

    Skience announces integration with Redtail

    What happened: Skience, an emerging provider of account opening and back office solutions, announced an integration with Redtail CRM.

    Why it matters: An integration with Redtail is usually not earth-shattering news; after all, the CRM company has 171 integrations. But this move by Skience is interesting because the company typically delivered its solutions through the Salesforce platform. Will opening your platform to top CRM for consultants broaden your horizons? We will see.

    Disclosure: Redtail is an integration partner of Riskalyze.

    Ritholtz introduces crypto index

    What happened: Ritholtz Wealth Management and WisdomTree have teamed up to launch the RWM WisdomTree Crypto Index, which helps advisors provide their clients with easier access to crypto exposure. The index will also be accessible via the Onramp Invest platform.

    Why it matters: It’s easy to believe that crypto is stuck at first base advisor access, but when thugs like Ritholtz and WisdomTree come out on top, a home run is always possible. This index doesn’t make crypto any less risky, but it does make it a lot easier for advisors to meet client needs and explore the potential benefits of cross-correlation through alternative asset classes.

    Disclosure: Ritholtz Wealth Management was one of Riskalyze’s early customers; WisdomTree is a Riskalyze Asset Management Partner and Onramp Invest is an upcoming Riskalyze Integration Partner.

    RIA in a Box from Complysci. acquired

    What happened: Complysci acquired RIA in a Box, one of the leading providers of compliance technology in the RIA community, following a $ 120 million capital injection into the verticalized compliance software company.

    Why it matters: ComplySci’s deal for RIA in a Box is said to be another blockbuster with another big rating multiplier. RIA in a Box’s Will Bressman will become President of the combined company and will play a larger role in providing compliance tools for companies in a number of industries. It will be interesting to see where ComplySci leads next.

    MarketCounsel, Dynasty Invest in SmartRIA

    What happened: At the MarketCounsel Summit 2021, Dynasty Financial Partners and MarketCounsel announced that they are making a strategic investment in SmartRIA, a technology platform for compliance and regulation. The move accelerates the availability of SmartRIA for consultants in the networks of both companies.

    Why it matters: And the hits keep coming back. Compliance technology seems ready for its breakthrough. In addition to the aforementioned ComplySci / RIA-in-a-Box deal, Orion Advisor Solutions has also acquired BasisCode. What is it all about? Regulators don’t make things easy for advisors and businesses, and compliance technology is an important answer to the problems chief compliance officers seek to solve.

    Snappy Kraken offers free marketing reviews

    What happened: Snappy Kraken, a marketing automation platform for consultants, announced the release of a free marketing review designed to help consultants evaluate their current initiatives and identify areas for improvement.

    Why it matters: Success in marketing isn’t just about creating more content. In fact, without a sales strategy, content is a recipe for wasting time. But strategy isn’t easy for consultants who need to focus their time on clients, investments, and financial plans. And marketing consultants don’t come cheap. The latest solution from Snappy is designed to at least give consultants a head start so they can ask the right questions and know where to look when they’re ready to grow their business.

    Disclosure: I am a member of the Board of Directors of Snappy Kraken.

    The fintech certificate says goodbye

    What happened: December 2021 marks the end of an era – the last fintech reporting card. That’s right, you are reading the last few words of the final fintech report.

    Why it matters: The Fintech Report Card started in 2015 with a simple idea: Let’s keep consultants updated on the month’s consultant tech news. But this year is drawing to a close, as is the era of the Fintech Report Card. Fear not – we’re inventing something in the WealthManagement.com labs to give you even better insight into the advisor news you need to know. I can’t wait to debut it in January. So stay tuned and thanks for reading! It’s the work you do every single month in your job that gets the biggest A + and two thumbs up from me.

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