AssetMark Financial Holdings, Inc., agreed with Canandaigua National Corporation to acquire OBS Financial in early 2020. RIA in a Box expands the partnership with Riskalyze to launch the Client Suitability Tool. Refinitiv announced a strategic partnership with SigFig to deliver financial advice technology solutions. Rockfleet and ActiveAllocator agreed to deliver asset allocation and portfolio construction methods to mutual prospects and clients. LPL Financial LLC was named a finalist for the 2019 Money Management Institute (MMI) / Barron’s Industry Awards. Stash Invest announced Portfolio Builder, a new feature of its mobile application.
AssetMark Financial Holdings, Inc., announced that it has reached an agreement, through its subsidiary AssetMark Financial, with Canandaigua National Corporation to acquire OBS Financial, an established turnkey asset management platform delivering academically constructed, structured investment strategies to independent advisors, bank Trust officers and their clients, in an all-cash transaction. The transaction is expected to close in early 2020, subject to customary closing conditions.
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LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, announced the firm has been named a finalist for the 2019 Money Management Institute (MMI) / Barron’s Industry Awards. As a Sponsor Platform of the Year finalist, LPL Financial’s Model Wealth Portfolios is nominated for exemplifying innovation in delivering better outcomes for investors and financial advisors, according to MMI.
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RIA in a Box, a leading provider of compliance, cybersecurity, and registration software for the wealth management industry, announced an expanded partnership with Riskalyze to launch the Client Suitability Tool as an expansion of its MyRIACompliance software platform. Augmenting recurring Compliance Calendar reminders to prompt assessment of client suitability and performance review, the new tool provides a more seamless experience for advisors and firms to conduct, track, and document the client suitability and portfolio review process enabled by the two platforms.
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Refinitiv has announced a strategic partnership with SigFig to deliver financial advice technology solutions. Specifically the technology will be targeted at the institutional users of Refinitiv’s BETA platform and will enable the pair to deliver an integrated digital advice experience. Under the agreement, the clearing and custody platform will leverage SigFig’s direct-to-consumer platform technology to create an end-to-end robo advice solution, featuring account opening, automated investment management and money movement.
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Stash Invest announced Portfolio Builder, a new feature of its mobile application. The tool follows what has become a pretty standard format among other digital automated investment services, aka robo-advisors. It uses a digital risk tolerance questionnaire that takes a client through the process of determining their risk. Based on this, clients are placed into one of three risk levels: conservative, moderate and aggressive.
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Rockfleet and ActiveAllocator announced an agreement to deliver asset allocation and portfolio construction methods to mutual prospects and clients. Rockfleet serves as Placement Agent to ActiveAllocator, introducing potential qualified investors, preparing marketing materials, formulating a targeting strategy, organizing roadshows, and assisting in negotiations. This agreement gives Rockfleet access to new and assorted portfolio construction and computer science-based optimization capabilities.
Find details here.
