Amidst the tidal wave of new AI-powered apps and services available to advisors and the rest of the world, it may have come as a surprise that Nvidia became the world's largest company by market capitalization earlier this week.
As much of the country was voting in Tuesday's election, Nvidia surpassed Apple's market capitalization. Nvidia was worth $3.43 trillion at market close, with Apple worth $3.38 trillion. Nvidia has done this before, beating Apple for a single day in June.
AdviceTech.Live is next week
Asset-Map Holdings, a visual financial planning provider, is holding its fifth annual AdviceTech.LIVE virtual conference on advisor technology next week, November 12-13. Participation is free; you just need to register.
The event will feature speed demos from 20 technology consulting firms and host six keynote speakers.
Except featuring many advisory technologiesSponsorship proceeds raised during the two-day event will be contributed to Philly Financial Literacy Week Inc., an organization dedicated to expanding access to financial resources and education. Asset-Map has raised over $140,000 from the event over the past four years.
Pontera integrates with Envestnet BillFin
Pontera this week announced the availability of its integration with Envestnet's BillFin (cloud-based advisory billing software for RIAs that resulted from it acquisition of Redi2 Technologies in 2022).
Through the integration, advisors who use Pontera to manage their clients' 401(k) accounts can streamline their billing.
BillFin offers RIA firms a comprehensive billing solution, from the calculation of advisory fees (flat, tiered or banded AUM). It can be matched with most of the ways a firm already bills its customers – in advance or in arrears – based on some parameters such as the end of the period, with the flows or the average daily balance. There's also self-service on board, the ability to fully customize your invoices and set asset exclusions by family, account, asset class or individual security, among other features.
DriveWealth is expanding into Europe
US-based brokerage-as-a-service provider DriveWealth announced this week that it has been granted a brokerage license by the Bank of Lithuania (the European country's central bank).
This marks the expansion of the company in Europe; it already has regulatory status in the United States and Singapore.
The vision is that this will support DriveWealth's ability to expand its platform to offer European securities, as well as provide a 24/7 “follow the sun” service model continuously across time zones, according to its announcement.
DriveWealth provides brokerage services, including 24-hour trading and fractional share ownership, to an ecosystem of B2B partners that include, among others, direct-to-consumer personal finance app Revolut and, for a time, the initial custodian and clearing firm Altruist.
uMINT, a Tokenized Money Market Investment Fund, announced by UBS
UBS Asset Management recently announced the launch of its UBS USD Money Market Investment Fund Token (uMINT), built on Ethereum distributed ledger technology.
The giant international firm, with more than $5.7 trillion in assets under management, has expanded its digital asset capabilities by offering through UBS Tokenize, in-house. tokenization the service.
UBS joins BlackRock KKR, Hamilton Lane and many other firms in issuing tokenized funds this year.