Last week, we saw many announcements of partnerships and integrations. BITA Risk partners with First Rate. Apex HCM partners with Ubiquity Retirement+Savings. HSBC Global Private Bank Americas partners with iCapital Network. AdvicePay integrates with Orion. Envestnet’s Tamarac has integrated Private Client Resources.
TD Ameritrade introduced a new platform for financial investors. Robinhood launched its own trade-clearing system. Interactive Brokers now offers its PortfolioAnalyst tool for free.
RBC I&TS has been appointed custodian and fund administrator for Starlight Investment Capital. The eMoney Summit started. BlackRock changes names, indexes, and objectives of its funds.
BITA Risk, a leading provider of wealth management solutions to the financial services marketplace, announced a strategic partnership with First Rate to provide enhanced performance, ex-post and ex-ante risk and portfolio analysis, and portfolio modelling tools to the wealth management sector. The partnership will enable First Rate’s ex-post performance, risk and attribution data in addition to client reporting to be accessed through BITA Risk’s portfolio management solution, BITA Wealth, and for that application to be available to First Rate’s clients through their current channels.
You can read more here.
Apex HCM, the leader in payroll, timekeeping, and human capital management technology, announced another expansion of Apex’s HCM platform by partnering with Ubiquity Retirement + Savings, the leader in small business 401(k) plans. Ubiquity has served over 7,000 businesses and helped hundreds of thousands of employees nationwide save over $2 billion in 401(k) retirement funds.
You can read more here.
American brokerage firm TD Ameritrade introduced a new Content Intelligence Platform (CIP) for financial investors. The new platform is designed for investors who need a personal, fast and simple financial solution. Driven by artificial intelligence (AI), the new platform will offer customized learning experiences to clients. It can also organize all its educational content and recommend the appropriate one based on clients’ behavior.
You can read more here.
HSBC Global Private Bank Americas announced on Tuesday it has formed an agreement with financial technology firm iCapital Network to expand and streamline client access to alternative investments. HSBC reported that the partnership is part of its initiative to enhance investment management capabilities and expand its product offering for high-net-worth clients. HSBC also noted iCapital will allow its qualified clients and their investment counselors evaluate and allocate to a broad range of private equity, private credit, and hedge fund investments.
You can read more here.
RBC I&TS wins custody mandate for real estate-focused asset manager.
RBC Investor and Treasury Services (RBC I&TS) has been appointed custodian and fund administrator for Starlight Investment Capital, a newly launched asset management firm. Starlight Capital focuses on providing solutions around under-represented sectors in Canadian investors’ portfolios through its flagship real estate and infrastructure funds. It is also a wholly-owned subsidiary of Starlight Investments, a private real estate investment firm with $9 billion of capital.
You can read more here.
eMoney Advisor (eMoney), a leading provider of planning-led wealth management solutions, today announced initial findings from the FlexGen Research Study, co-developed with Fidelity. eMoney CEO Ed O’Brien shared highlights from the study during his keynote presentation titled “Rise of the FlexGen” to kick off Day 1 of the 2018 eMoney Summit, the industry’s premier event for planning-led financial advisory professionals.
You can read more here.
BlackRock (NYSE: BLK) will change the fund names, underlying indexes and investment objectives for the iShares North American Tech ETF (IGM) and the iShares North American Tech-Software ETF (IGV), effective on or around December 24, 2018.
These changes are designed to help IGM and IGV more closely maintain existing constituent exposure and mitigate turnover risk following the Global Industry Classification Standard (GICS) revisions to the Information Technology (IT) Sector. The new indices seek to effectively track the methodology of the current underlying indices and retain constituents that have been reclassified to ineligible sub-industries due to the 2018 GICS Reclassification.
You can read more here.
Robinhood launches its own trade-clearing system as customer growth surges.
Robinhood announced it has finished building its own clearing system, Clearing by Robinhood, and will be switching its customers over from Apex Clearing by the end of the year, according to the company. The project, led by former Google employee Christine Hall, took 2 years and nearly 100 extra personnel, and it involved obtaining licensing from the Financial Industry Regulatory Authority, Depository Trust & Clearing Corporation and the Options Clearing Corporation.
Clearing is a complex and scrutinized business, creating a space for companies like Apex Clearing, which helped Robinhood get its business footing.
You can read more here.
Interactive Brokers Group, Inc. (IEX:IBKR) an automated global electronic broker, is now offering its PortfolioAnalyst tool to the general public for free. This powerful online application provides consolidation, tracking, and analysis across financial accounts. First created in 2009, the tool has evolved to become one of the premier offerings in the industry and is widely used by IBKR’s individual clients, advisors, and brokers. Investors no longer need to have an IBKR brokerage account to enjoy the benefits of PortfolioAnalyst. The simple sign up for PortfolioAnalyst is available at ibkr.com/pa.
You can read more here.
AdvicePay announced a new billing integration with Orion Advisor Services, LLC (Orion), a leading portfolio accounting provider for registered investment advisors. With this integration, financial advisors using the Orion platform to bill their AUM fees will have one-click access to the AdvicePay advisor portal to bill their non-AUM financial planning and retainer fees as well.
You can read more here.
Tamarac pairs with Private Client Resources. Envestnet’s Tamarac adds data aggregation service used by private banks and wealthy families.
Envestnet’s Tamarac has integrated with wealth data aggregation service provider Private Client Resources, the company announced. PCR specializes in providing automated aggregation of alternative and illiquid assets, combining data from over 400 custodians and banks. Envestnet also owns account aggregation service Yodlee.
You can read more here.
