Hamilton Lane is acquiring Denver-based long-short equity fund manager 361 Capital, with more than $600 million of assets. GGV Capital closed on a $2.52 billion in fresh capital commitments across four new funds. Advisor360° announced that Chris Ollendike has joined the team as SVP of Sales. Fidelity has launched an ESG tool. BGL Group announced a digital claims management model developed in conjunction with insurer partner, Markerstudy Group. Bank of America, JPMorgan Chase, PNC Bank, TD Bank, Truist, US Bank, and Wells Fargo have piloted a data sharing risk assessment service provided by TruSight. Hightower acquires stake in $830M RIA Siller & Cohen. Robinhood has hired two executives from the Financial Industry Regulatory Authority, the US regulator. Foreside Financial Group plans to acquire Capital Markets Compliance (CMC). FMG Suite announced the appointment of Samantha Russell as Chief Evangelist. MaxMyInterest announced an integration with Redtail Technology. GeoWealth announced that it has surpassed $13 billion in assets. Skience finalized an agreement to provide its industry-leading platform to the wealth management division of BankPlus. Orion Advisor Solutions and Focus Financial Partners Inc. announced the formation of an innovative joint venture. Capco announced a new partnership with Envizage.
Hamilton Lane is acquiring Denver-based long-short equity fund manager 361 Capital, with more than $600 million of assets.
Find details here.
GGV Capital, the now 20-year-old venture firm that has long invested primarily in the U.S. and China, just closed on a whopping $2.52 billion in fresh capital commitments across four new funds, it announced this morning.
Find details here.
Advisor360°, provider of an integrated suite of productivity tools for advisors, clients, and broker-dealers, announced that Chris Ollendike has joined the team as SVP of Sales. In collaboration with the leadership team, Mr. Ollendike will develop the partner ecosystem and acquire new broker-dealer clients.
Find details here.
Fidelity has launched an ESG tool, called Fidelity ESG Pro, for both Fidelity and non-Fidelity advisors. Designed to help advisors initiate and navigate ESG-focused conversations with their clients, while providing reporting and fund insights from Fidelity Institutional Wealth Adviser LLC (FIWA), the tool helps advisors create and deploy ESG models.
Find details here.
BGL Group announced a digital claims management model developed in conjunction with insurer partner, Markerstudy Group.
Find details here.
Bank of America, JPMorgan Chase, PNC Bank, TD Bank, Truist, US Bank, and Wells Fargo have piloted a data sharing risk assessment service that streamlines risk evaluations of data aggregators and financial apps. The new centralised service, provided by TruSight and KY3P by IHS Markit and incorporating work developed through The Clearing House’s Connected Banking initiative, can streamline this process, making it easier for banks to onboard customers into data aggregation services, such as Plaid and Finicity.
Find details here.
Hightower Acquires Stake in $830M RIA Siller & Cohen. Hightower’s investment in Westchester-based Siller & Cohen Family Wealth Advisors is its third transaction of 2021. Hightower CEO Bob Oros says the pandemic was a wake-up call for many RIA founders, and expects more deals to come.
Find details here.
Robinhood, the California-based stock trading app, has hired two executives from the Financial Industry Regulatory Authority (Finra), the US regulator.
Find details here.
Foreside Financial Group, LLC (“Foreside”), a provider of governance, risk management, and compliance service and technology offerings to clients in the global asset and wealth management industry, announced that it plans to acquire Capital Markets Compliance (CMC), a leading compliance, consulting, and FINOP practice.
Find details here.
FMG Suite, a SaaS company specializing in marketing software and services for financial advisors and insurance agents, announced the appointment of Samantha Russell as Chief Evangelist.
Find details here.
MaxMyInterest (“Max”), a provider of innovative cash management solutions for financial advisors and their clients, announced an integration with Redtail Technology (“Redtail”), a leader in client relationship management (CRM) solutions for the financial advice industry. The Max For Advisors integration will enable advisors to deliver above-market interest rates to their clients, free from any conflicts of interest.
Find details here.
GeoWealth, a financial technology and investment advisory firm, announced that it has surpassed $13 billion in assets on its advisor platform and substantially grew assets under management (AUM) through 2020 to hit a highwater mark of $4.5 billion in December 2020, representing more than 100 percent growth in AUM from December 2019. Serving financial advisors and the broader investment community with its next-generation turnkey asset management platform (TAMP), GeoWealth now has over 800 users on its platform and powers more than 80,000 client accounts.
Find details here.
Skience, a financial services solution and consulting provider, announced that it has finalized an agreement to provide its industry-leading platform to the wealth management division of BankPlus, a regional bank with 79 locations and more than $4.7 billion in total assets serving customers across Louisiana, Mississippi and Alabama.
Find details here.
Orion Advisor Solutions and Focus Financial Partners Inc. (NASDAQ:FOCS) announced the formation of an innovative joint venture that will add a competitive array of cash and credit solutions and related services developed by Focus Client Solutions (“FCS”) to Orion’s comprehensive WealthTech platform.
Find details here.
Capco, the global management and technology consultancy, and Envizage, the London-based analytics software provider, announced a new partnership that will see the two companies working together to deliver the benefits of Envizage’s simulation-based holistic advice engine for financial services.
Find details here.
