What you need to know
- Consultants using the Pershing X platform will now benefit from a customized experience delivered through a combination of artificial intelligence, analytics, and real-time client collaboration.
- Dynasty network RIAs will gain the ability to invest in venture capital funds on behalf of clients as part of a deal with Allocate.
- Envestnet has teamed up with Aite-Novarica Group to launch “The Intelligent Financial Life Advisor Practice Score.
BNY Mellon Pershing X Division. Collaborated with a technology startup The two companies said Thursday that Conquest Planning is integrating Conquest’s financial planning app into the Pershing X platform.
The companies said advisors using the Pershing X platform will benefit from a personalized experience delivered through a combination of artificial intelligence, analytics, and real-time client collaboration.
The Conquest solution will run on the Pershing X platform in 2023.
BNY Mellon also said it made an unspecified equity investment in Conquest, “reinforcing our commitment to customer service and innovation.”
Dynasty Partners with customization
As part of an agreement with digital platform Allocate, RIA’s Dynasty Financial Partners network will gain the ability to invest in venture capital funds on behalf of its clients, the companies said in joint announcement Wednesday.
The two companies said the allocation provides investors with a “simplified” way to access risk funds and co-investments.
“Dynasty believes that enterprising companies get high-quality deals, engage with their choice of founders, and help those founders work to build successful businesses,” said Carter Reum, co-founder of M13 Ventures and an Allocate investor. in the current situation.
“Unfortunately, access has been restricted at best to other non-institutional accredited investors,” he noted. “We believe the investment project market is overdue for innovation,” he said, predicting that the Dynasty-Allocate partnership “will expand access to project managers, while reducing the administrative burden on these capital-attracting general practitioners.”
Envestnet launches advisor assessment
Envestnet has teamed up with Aite-Novarica Group for financial services research and advisory to shoot What Envestnet has called “the industry’s premier financial advisor assessment,” is the hands-on assessment of the savvy financial life advisor.
The assessment assesses the extent to which an advisor helps clients “achieve peace of mind and financial security with regard to their ability to meet all of their financial needs and goals,” Investent said Tuesday.
The assessment results in insights into how the consultant can deliver more value and achieve higher levels of customer satisfaction to help grow practices.
For advisors, there is a significant correlation between achieving higher advisor practice scores and managing more client assets, according to Envestnet. Investnet said advisors with a score of 80 or higher manage $443 million in client assets on average, which is 69% more assets than their peers who scored in the bottom quartile of the survey.
The assessment stems from an online study conducted by Aite-Novarica on behalf of Envestnet in late 2021 that polled 483 advisors to examine how advisors help their clients achieve a concept developed by Envestnet called “Smart Financial Living.”
Integrates with Tamarac
Flourish Crypto, a ready-to-own direct-ownership cryptocurrency investment solution offered by Flourish financial products platform, announce Launching its integration with Envestnet | Tamarack.
Crypto boom and Envestnet | Tamarac has built in direct and descriptive integration, allowing RIA investment agencies to integrate Flourish Crypto data into their reports just like any other asset — from performance to billing — in a simple and secure way, Flourish said Tuesday,
Consultants can benefit from Envestnet | Tamarac to manage client portfolios, support reporting, planning, bill execution, and more.
Including cryptocurrency data in existing reporting systems is “crucial to RIA’s adoption of this emerging asset class,” according to Flourish.
A recent survey of high net worth investors showed that 91% of those under the age of 40 have investments in digital assets, according to Ben Cruikshank, president of Flourish.
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