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Raymond James Chooses New Data Partner: Tech Roundup

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Raymond James has chosen AxiomSL to provide broker-dealer and bank holding data aggregation and reporting solutions, the firm announced on Thursday.

AxiomSL’s platform will help with daily net capital and customer reserve calculations, as well as Treasury international capital and FOCUS reports. It will also integrate Federal Reserve FR Y-9C reports, Call reports and Basel risk-weighted asset calculations.  

“As part of our larger goal of data management transformation, Raymond James was looking for a strategic technology partner that could help with a significant portion of our critical reporting,” David Lesser, senior vice president of technology at Raymond James, said in a statement. “AxiomSL’s expertise working with complex, diversified institutions and ability to implement these solutions over a number of years was exactly what we were looking for.”

Zacks Advantage announced on Wednesday that it has launched an institutional robo-advisor in addition to its client-facing robo.

Zacks Advantage Institutional will help advisors give small to medium-sized clients active portfolio management on an automated platform. Zacks combines active and passive management by employing a team of managers who build ETF portfolios for clients.

“Our automated, actively managed wealth management service is an ideal solution for independent advisors who need fully transparent, low-cost ETF solutions for their small to mid-size clients to comply with the DOL Fiduciary rules come into effect on April 10,” Scott Schneider, president of Zacks, said in a statement.

Schneider believes the combination of active and passive management is ideal in transitional periods that could increase volatility, like the handing over of power from one president to another.

“This is why we see active management as a positive moving forward this year,” Schneider said in the statement. “Too often investors are left with a ‘set it and forget it’ investment strategy, which might be fine over the last eight years in a low-interest rate, slow growth economy. But when there is a once in a generational shift in the political landscape with the potential to have a large impact on the economy, it is foolish not to consider a re-positioning of your portfolio to reflect a new pro-business, pro-growth, Republican administration charged with enacting change.”

(Related: Zacks Rolls Out Actively Managed Robo-Advisor)

Also on Wednesday, Advicent announced that it is partnering with Janney Montgomery Scott to offer NaviPlan to Janney prospects and clients. Advisors will be able to offer account aggregation, comprehensive goal-based assessments, detailed cash-flow analysis programs and scenario simulation calculations, according to a statement.

Janney is also using NaviPlan to upgrade and reconstruct its Retirement Income Evaluator tool. The new version of the tool will let advisors offer clients updated reports, calculations and cash-flow projections.

“The ability to remain transparent with clients and prospects is key to any financial services business, especially given the future changes expected from the DOL. The NaviPlan technology capabilities will allow us to successfully navigate this environment, provide our employees with comprehensive technology-based tools, and empower clients with a flexible and easy-to-navigate digital platform,” Martin Schamis, vice president and head of wealth planning at Janney, said in the statement.

— Read Technology Is Your Firm’s Central Nervous System on ThinkAdvisor’s TechCenter. 


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