Beyond adoption: Wealthtech finally eyes innovation
Wealthtech has finally graduated from forcing adoption to focusing on innovative ways to bring financial advice into users pockets.
March 15, 2021 3 MINS
Innovations in technology are front and center after a year of pandemic-driven lockdowns have forced a rapid increase in wealthtech adoption by advisers. One year later, technology providers are, finally, able to innovate beyond pushing the adoption of Zoom video conferencing and eSignatures.
In 2021’s “New Normal,” wealthtech innovation is focused on bringing the entire universe of financial services into the pockets of everyday users not just the ultra-high-net-worth investor.
“The time is now to bring these changes forward to the industry and Covid-19 has accelerated that, as people have turned more to digital for obvious reasons,” said Tricia Rothschild, President of Apex Clearing, an API-driven alternative to traditional custodians
AssetMark Seeks To Compete On Broader Stage With Latest Moves The turnkey asset management platform is looking more like a diversified wealthtech provider, having added services for planners and RIAs.
The turnkey asset management platform AssetMark is looking more like a full-fledged wealthtech firm than a simple TAMP.
With $74.5 billion and more than 8,400 advisors on its platform, the firm is making a push to appeal to advisors looking for “new and different solutions,” according to the firm’s new CEO, Natalie Wolfsen.
Besides making a change in leadership, in less than two months AssetMark announced the pending launch of AssetMark Institutional, which is designed to provide RIA-focused products, Advisor Managed Portfolios and alternative investments; a client experience that better supports financial planning, account reporting and digital communication; and specific events and thought leadership materials for RIAs. It is scheduled to go live on March 10.�
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Fidelity hosts a Reddit AMA but Robinhood steals the show
More than 1,300 comments from Redditors flooded the discussion, yet trading education was largely outshined by comments comparing Fidelity’s mobile app interface to Robinhood s.
February 12, 2021 5 MINS
Fidelity Investments hosted an hour-long Reddit discussion on Wednesday to engage with customers and answer live questions regarding retail trading.
The discussion was hosted via an r/IAmA board, which is a subreddit for question-and-answer interactive interviews termed “AMA” or “Ask me Anything.” Prominent figures like Bill Gates will host these discussions to directly engage with consumers.
That was Fidelity’s intent, too, said a Fidelity Investments spokeswoman. “Fidelity regularly engages with customers where they are to answer questions and gather feedback,” the spokeswoman said in an email. “This AMA is an example of that approach as interest in our platform continues t
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