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.