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XY Planning Network Announces Fintech Finalists

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A competition for products to deliver financial planning services to Gen X and/or Gen Y clients has been winnowed down to the final six candidates in the 4th annual FinTech Competition from XY Planning Network.

The competition drew nearly 30 entries from startup advisory technology firms.

At XYPN’s annual conference, to be held Sept. 10, the finalists will introduce and promote their offerings before an audience and a panel of expert judges, the latter of which includes technology guru Bill Winterberg of FPPad and Michael Kitces, cofounder of XYPN. A winner will be selected at the conference.

The six finalists include Altruist, a digitally native RIA custodial platform allowing RIA firms to run their businesses entirely online. It enables advisors to open client accounts through its mobile app, as well as to build and trade model portfolios with no commissions or AUM fees. In addition, advisors can offer clients ETFs and equities with AI-powered tax sophistication, rebalancing, and fractional shares.

Next is Anvil, which converts document-based processes into online workflows that allow advisors to gather client information that then automatically prefills paperwork.

College Aid Pro helps advisors work with clients on planning for and managing current and future college tuition payments. It can model relevant information to forecast financial aid packages for all four years of schooling at more than 2.000 colleges in minutes, and was created by Capstone College Partners and College Funding Services.

Holistiplan can read a tax return and provide advisors with a two-page client-ready report including metrics and potential planning observations. In its initial iteration, it focuses on evaluating 2018 tax returns to generate planning ideas for clients. Future versions will read and analyze insurance documents, including P&C declaration pages.

Knudge is a shared to-do list platform for advisors and clients that provides information on which tasks have been completed by each party, then sends automated reminders for outstanding items. It ensures that clients tackle action items so the advisors’ advice can be implemented properly.

NEXA Insights is a client survey tool to enable advisors to obtain client insights in a nonthreatening, nonintimidating way. It guides advisors through the process of survey distribution and feedback gathering.

“The XYPN FinTech Competition is truly an embodiment of the Network’s core mission to support and encourage the innovation of new solutions to help our advisors better serve next gen clients,” Alan Moore, CEO and cofounder of XY Planning Network, said in a statement.

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