All-in-one technology platform provider Advyzon this week announced an integration with alternative investment platform iCapital. This will initially involve integrating iCapital's fund data and activity into Advyzon's portfolio reporting platform (along with single sign-on from Advyzon to iCapital). In the next roadmap will be access to iCapital's document center from within Advyzon's document vault, which…

A former adviser has chosen to trade, favoring personal accounts held by him and his wife to the detriment of clients, according to the Securities and Exchange Commission. Commission accused Spartanburg, SC-based Eric Cobb with clients he allegedly defrauded while he was a representative at SeaCrest Wealth Management, located in Purchase, NY. The SEC also…

Since its launch in 2016, Sallie Krawcheck's automated investing service has largely faced the challenge of slow growth. Often referred to as a robo-advisor, Ellevest has struggled to grow to $2.4 billion in assets under management since its inception. Related: Ten to watch in 2025: Eden Ovadia Now she must also face the challenge of…

With two weeks to go in 2024, the FTSE Nareit All Equity REITs Index is on pace to end the year posting double-digit growth in total returns. This is roughly in line with the 25-year average of nearly 10%. Looking ahead to 2025, a combination of factors, including the prospect of a soft economic downturn,…

A new report from market research firm Cerulli Associates predicts that advisors will eventually use ETFs to access a wider range of alternative investment productsincluding private credit ETFs that have not yet been approved by US regulators. Just five years ago, funds focused on commodities and real estate made up the largest share of the…

Registered investment advisory firms are increasingly turning to mergers and acquisitions as a strategy for inorganic growth. This year is expected to break new records for M&A activity in the wealth management industry. And with about 40 to 45 private equity-backed serial buyers out there, M&A can seem like the shiny new object for many…

FINNY AI, a next-generation startup for financial advisors, announced this week that it has raised $4.2 million in seed funding. Maple VC and HNVR co-led the round, which also included Crossbeam Ventures, Liquid 2, Y Combinator, Morningstar CEO Kunal Kapoor, Gusto Chief Product Officer Tomer London and Deel COO Dan Westgarth. Related: Finny and Accelerating…

LPL Financial has added another firm as part of its latest series of spin-off practice acquisitions from Osaic. The latest addition is Franklin Lakes, NJ- and Westchester, Pa.-based Prestige Wealth Group, which manages approximately $540 million in advisory, brokerage and retirement plan assets. Prestige, led by managing partners Rich Galgano and Matt Geraci, has joined…

Hightower has taken a stake in Denver-based Dechtman Wealth Management, a financial planning firm with $800 million in client assets. This is Hightower's sixth strategic investment this year. Dechtman Wealth is a team of eight led by three partners/wealth managers, including founder Jordan Dechtman and his sons Sam and Adam Dechtman. The firm focuses on…

Many feel that the spinoff movement is driven primarily by advisors—that is, those who serve clients and manage books of business, but are drawn to the premise of being an entrepreneur and the prospect of building equity over the long term. No doubt that's true, but there's also a trend of some of the biggest…