WealthTech on Deck’s Post

News like this doesn’t happen every day. SEI® announced today that it has acquired LifeYield. Together, we’re developing real-time, unified managed household (UMH) capabilities in a cost-effective, fully bundled solution for advisors and firms. Read the announcement to find out what we plan for our future together — and what it could mean for you.

News like this doesn’t happen every day. SEI announced today that it has acquired LifeYield. Together, we’re developing real-time, unified managed household (UMH) capabilities in a cost-effective, fully bundled solution for advisors and firms. Read the announcement to find out what we plan for our future together and what it could mean for you.

BIG NEWS! SEI snaps up tax-efficient rebalancing software provider SEI LifeYield. (As you can see they already updated their LinkedIn profile. Very efficient!) They managed to squeeze in one more M&A deal before the end of 2024. This is a solid pickup by SEI. LifeYield has been one of the industry leaders in tax-efficient rebalancing, and was the first to optimize the decumulation process. Of course, we have been following LifeYield since just after they launched. It is a terrific product that initially filled a valuable gap in retirement planning and has since expanded into a robust product offering. Many of the RIAs we talk to are either using LifeYield already or investigating tax efficient withdrawal strategies. It's a critical component of long-term financial planning. Their largest and oldest client relationship, Morgan Stanley, demonstrates a commitment to improvement and a vote of confidence in their technology. MS certainly has the capability to build a similar product, yet they have rented software from LifeYield for over a decade. I thought their idea of the Taxficient Score was super smart. Creating a new measurement that competitors wouldn't have access to. Also a form of gamification for a complex part of planning that simplifies what could be a confusing concept for clients. Plus, it's a great marketing tool! I was recently talking about how it's about time someone launched a new portfolio rebalancing startup as the number of point solutions have been reduced by recent acquisitions (RedBlack and AdvisorPeak to name a few). Now there's one less! Check out my podcast interview with Mark Hoffman below. Congrats to the entire team at LifeYield and to SEI for a great addition to their product suite.

A common frustration we hear from advisers is having to turn away clients they could help but can't. They are looking for ways to service lower balance clients at a price point the client can afford while not harming their ability to make money. DASH CEO Andrew Whelan shares his experience: “Advisers who want to engage with those clients have been asking about digital advice journeys that offer simple advice. So, advisers are doing this themselves. It’s not just the industry funds and banks,” he said. He explained that through technology, advisers can “deliver a far more simple offering with a different style of technology stack, which reduces the price”, providing service to those who would be otherwise unable to afford it. He added that “it’s not the full service, because the client can’t afford that, but they can do something meaningful for the client”. Thanks Shy-ann Arkinstall and ifa (Independent Financial Adviser) for the interview, full article below.

Intelligent Money has entered administration, with #Quai stepping in to acquire its assets and ensure seamless service continuity for clients.📉 Tony Webb, CEO of Quai: “We’re committed to providing a stable and reliable service for account holders.” Julian Penniston-Hill, CEO of Intelligent Money: “This transition ensures continuity for clients and sets a new benchmark in the industry.” Read more about the acquisition: https://lnkd.in/e-YR3bEk #WealthTech #RegTech #Administration #Acquisition #FinancialServices 💼🔒🤝

Only put off until tomorrow what you are willing to die having left undone. ✨ BlackLine Named Most Innovative FinTech Solution at 2024 Tech Ascension Awards ✨ 🏆 BlackLine has emerged as the winner of the prestigious 2024 Tech Ascension Award for Most Innovative FinTech Solution. This recognition highlights BlackLine's unwavering commitment to financial transformation and showcases its advanced solutions that significantly enhance the efficiency of Finance and Accounting processes. 🚀 The award emphasizes BlackLine's dedication to pushing boundaries and revolutionizing the way businesses handle their financial operations. By offering innovative solutions, BlackLine is empowering organizations to streamline their financial workflows and unlock new opportunities for growth. 💼 As an investment advisor, I encourage you to embrace the power of FinTech solutions like BlackLine. By adopting cutting-edge technology, you can transform your own financial strategies and position yourself for success in an ever-evolving landscape. ⭐️ Don't let the Fear of Missing Out hold you back. Act now to explore how BlackLine's innovative FinTech solutions can optimize your financial management and elevate your business to new heights. Invest in your future today! #HSA #Investing #Healthcare #Health #Family #Wellness 💪📈🌟

[Sent with Free Plan] HUB24's FY24 financial results have demonstrated remarkable growth and robust performance. The company achieved record net inflows of $15.8 billion, reflecting a 62% increase compared to the previous period. This surge propelled their total Funds Under Administration (FUA) to $104.7 billion, a 30% year-over-year increase. Notably, their Platform FUA grew to $84.4 billion, up 35%, while PARS FUA reached $20.3 billion, a 15% rise over the year. Breaking down the figures further: - **Platform FUA**: Increased from $62.71 billion in June 2023 to $84.41 billion in June 2024, showcasing a substantial 34.63% growth rate. - **PARS FUA**: Grew from $17.64 billion to $20.32 billion during the same period, marking a 15.17% increase. - **Market Share**: HUB24's platform market share rose from 6.1% in March 2023 to 7.3% in June 2024, reinforcing its leadership in the market. The company's net inflows as a percentage of initial FUA for FY24 stood at 19.66%, emphasizing the strength of their growth trajectory. Key drivers include new distribution agreements and a significant adviser uptake, with a 13% increase in advisers using the platform, totalling 4,525. HUB24's liquidity position remains solid, backed by stable cash holdings and substantial custodial assets even though there was a slight reduction in custody revenue margin in the second half of FY24. Overall, HUB24's FY24 results are underpinned by strong market leadership and strategic initiatives, setting a firm foundation for continued financial stability and growth in the upcoming year.

We have talked about the first company on this list before, but here are a few others that Forbes has highlighted as wealth management AI apps to watch in 2025. Whether helping to manage spending, optimise savings or improving access to advice and execution, all could help play a role in the management of finance. Take a look at the blog: https://lnkd.in/gQBzvXup #PersonalFinance #Investing #WealthBuilding #FinancialPlanning #MoneyManagement #FinancialGoals #2025Finance #SmartMoney #WealthTips

This is an interesting article that clearly lays out how robo advisors, as well as digital advice platforms, have changed the game in terms of financial advice access for the everyday investor (and for many who'd previously have never been an investor). Vanguard is a company that was founded partly on the proposition that given the right tools, simple and sound investing principles, and low-cost, quality products, the average person could DIY their portfolio without paying for expensive advice. This was true in the old-style financial advice landscape--when advisors would charge several % of your portfolio, and not even engage with someone who didn't have significant investable assets. Advice itself was never the problem--it was the fact that high costs, commissions, and lack of fiduciary standards ate away the benefit that the average person would gain. Now, technology has made professional advice cheap and available, no matter your asset level. Not only that, you don't need to gather your bank statements and set aside time for an in-person appointment--you can get advice at your fingertips through a few clicks on your phone. And while some people remain well-suited to DIY, the truth is, most people don't have the time to do it properly: not the time to learn investing principles and trade-offs, not the time, energy, or willingness to consistently rebalance, not the time to understand tax implications or learn (let alone calculate) tax strategies. And that's before you even get to what's often trickiest for investors--not what they do while they're saving, but what to do to prepare for spending from the portfolio. Plus there's also the large demographic of people (usually those starting out in the workforce) who find investing either too intimidating or too removed from their situation in life to start--despite being at a point in their lives where even starting small could make a big difference later. With modern tech-assisted, low-fee advice, the equation has flipped: studies show people would be better off long-term not managing their own portfolio. The trick now is in getting younger adults to realize investing isn't a "someday later" or "other people" thing, and older adults to objectively evaluate how well they actually DIY--and the quiet opportunity costs of only doing some of the work. #financialadvice #investing #advicetechnology #roboadvice #personalfinance #advice #portfoliomanagement #DIYinvesting

Filling advice gap needs an ‘industry-wide response': As many Australians continue to go without financial advice, the profession continues to explore digital advice solutions to help bridge the gap. https://bit.ly/3NgCYmJ