Entreda announced the launch of its second generation Unify platform, that is designed to safeguard independent broker-dealers and RIA firms from digital threats. InvestEdge merges multiple investment strategies into a unified managed account (UMA).
Robinhood sells users’ data to high-frequency trading (HFT) firms at 10 times the rate of what other financial companies charge them.
Crypto-related projects from Fidelity Investments could be uncovered by the end of 2018.
Emotomy will provide the advisors and clients of Transatlantique Private Wealth LLC with a suite of cloud-based portfolio-management capabilities. RightCapital announced a strategic business partnership with Betterment for Advisors to help RIAs bridge the gap between advice and planning. TradingScreen launched a strategic partnership with Imagine Software to use its front-to-back-office portfolio risk and compliance management solutions. Envestnet | Tamarac integrates with TD Ameritrade and Schwab.
TradingScreen, a provider of electronic trading solutions, has launched a strategic partnership with Imagine Software, and will use its front-to-back-office portfolio risk and compliance management solutions. The accord will benefit TS’ clients by providing them with a checks and balances feature integrated into their execution workflow. It will alert them when a rule or limit is breached.
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Robinhood is making millions selling users’ data to financial companies
A Second Quarter SEC filing shows that Robinhood Financial (Robinhood) is actually making millions of dollars from selling users’ data to high-frequency trading (HFT) firms. Recall, this is the same company that espouses values of ethical trading practices that benefit the common man instead of fleecing customers to provide a quick buck for Wall Street traders.
While it should come as no surprise that an investment company would distribute information related to customer demographics and purchasing preferences, the company frequently touts its zero-commision trading options and markets itself as going against the grain of typical Wall Street brokerages. Turns out, Robinhood actually sells users’ order details at 10 times the rate of what other financial companies charge HFT firms. Meanwhile, competitors like Vanguard and Interactive Brokers (IBKR) do not sell users’ data and IBKR even allows customers to place their orders through a variety of exchanges.
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Entreda, an industry-leading developer of integrated cybersecurity software and solutions for the retail wealth management industry, announced the launch of its second generation Unify platform. The new platform, which was rolled out at the BNY Mellon Albridge Forum held Sept. 13-14 in Chicago, is designed to safeguard independent broker-dealers and registered investment adviser (RIA) firms from the widest possible spectrum of digital threats in today’s environment, including threats that originate from both outside and within financial firms.
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Emotomy, the cloud-based wealth-management platform, announced that it had signed an agreement with Transatlantique Private Wealth LLC, the US arm of a global private bank, to provide digital wealth-management capabilities to the firm’s private wealth managers. “We are delighted to serve the advisors and clients of Transatlantique Private Wealth with a modern suite of cloud-based portfolio-management capabilities,” said Patrick Beaudan, CEO of Emotomy.
Transatlantique Private Wealth specializes in servicing French expatriates, and is a subsidiary of Banque Transatlantique S.A., a wholly owned subsidiary of the Credit Mutuel CM11.
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RightCapital, a next-generation financial planning tool that provides advisors with the ability to create custom, comprehensive financial plans announced a strategic business partnership with Betterment for Advisors, a leading digital wealth management platform that provides advisors with the ability to combine robo-advisor technology with their personal touch. Both RightCapital and Betterment for Advisors believe deepening their partnership will create a more exceptional experience for RIA customers by bridging the gap between advice and planning.
The partnership, which includes a joint go-to-market strategy with cross-selling components compliments the integration that RightCapital and Betterment for Advisors rolled out last year. Both companies have been busy learning the details of the respective platforms in an effort to help identify right-fit advisors. RightCapital aims to help advisors who are currently using its industry-leading financial planning tool to engage with Betterment for Advisors in order to develop more efficient and streamlined investment and planning workflows. Betterment for Advisors offers paperless back office operations, automated and tax-efficient portfolio management, intuitive advisor and client dashboards, and branded client communications.
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InvestEdge, a leading provider of innovative financial advisory solutions, announced the release of its unified managed account (UMA) solution. InvestEdge UMA merges multiple investment strategies into a single account and gives advisors the ability to manage assets at the product level, offering improved efficiency and control in rebalancing and client reporting.
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Envestnet | Tamarac announced new integrated systems with two major custodians, TD Ameritrade and Schwab Advisor Services, that will enable advisors to streamline the client onboarding process by digitizing the account opening process. RIAs that manage accounts with TD Ameritrade or Schwab Advisor Services will now be able to auto-fill client information using the Tamarac platform to dramatically improve the account opening process.
The new integration will increase efficiencies for RIAs, allowing for an easier onboarding process and less time spent opening new accounts. Advisors and clients at all financial levels, from millennials to ultra-high net-worth individuals, will benefit from less paperwork and a smoother process.
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Fidelity Investments CEO Abigail Johnson disclosed that the renowned investment management and financial solutions provider has some crypto-related projects in progress and that could be uncovered by the end of 2018.
Fidelity Investments joins Citigroup, Goldman Sachs, and several other big players in the finance domain in getting ready to enter the cryptocurrency market with a bang.
The crypto sector is currently dominated by Coinbase, Gemini and handful of prominent players. These crypto-focused firms have principally offered their services to individual investors. However, of late, the crypto firms have started targeting fund managers with top notch product releases, with an aim to outperform traditional financial firms. Institutional investors – often described as the game-changer-are wary of joining the space given the risks and lack of familiarity involved with a budding technology and asset class.
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