SkyView Partners launched the Advisory Practice Board of Exchange, a subscription-free turnkey solution for buying and selling wealth management practices.
The new online marketplace has several features designed to attract prospective buyers, including clear seller search results, site participation anonymity maintained by only allowing verified sellers to view buyer profiles, and a platform to compete for seller listings, according to the Wayzata, Minnesota-based correspondent lender.
To promote anonymity and productivity for sellers, APBOE requires that an M&A consultant is used for sell-side representation, the company said.
“From independent to registered investment advisors, APBOE is a platform for serious buyers and sellers looking to conduct M&A transactions and access bank financing,” according to Scott Wetzel, SkyView CEO. “Currently, we have approximately two buyers per every seller on APBOE,” he said in a statement.
Initial APBOE market participants include M&A consultants Echelon Partners, DeVoe & Co., Smart Concepts Group and Advisor Legacy, who are providing consulting services to support buyers and sellers, SkyView said.
Fidelity Enhances Automated Managed Platform
Fidelity Clearing & Custody Solutions added customized investment models to its Automated Managed Platform, which combines digital advice capabilities with human advice and goals-based financial planning.
With the new addition, advisors using Fidelity’s AMP can customize investment models that Fidelity is starting to roll out to a limited number of firms. Advisors will be able to create models based on end-investors’ risk tolerance and define asset allocations using a variety of funds from across the industry, Fidelity said.
State Street Introduces Direct Access Lending
State Street introduced Direct Access Lending, a securities finance product that enables direct, principal loans between its lending and borrowing clients.
The new managed peer-to-peer product will “leverage the size and strength of State Street’s Agency Lending and Enhanced Custody programs, and underscores a continued focus on aligning solutions and technology across State Street to help clients achieve their objectives,” it said.
Money in Motion Analytics Added to Pershing
BNY Mellon’s Pershing subsidiary has made Money in Motion analytics available to clients. The new digital solution enables financial professionals to measure organic growth by isolating the effects of market performance on their business.
The tool is one of several strategic initiatives announced at Pershing’s June Insite conference to help clients accelerate the digitization of business processes and is free of charge to clients on the NetX360 platform. It allows financial professionals to track net new asset flows, set growth benchmarks and measure progress against those benchmarks, “giving them control over the future of their business,” the company said.
Money in Motion tracks transactions related to checks, Automated Clearing House, wires, disbursements, rollovers, fees, Automated Customer Account Transfer Services transfers, non-ACAT transfers and tax withholding.
It can also break down net new asset flows in various ways, including by account or investment type, as well as by financial professional and geographical location, and offers historical data going back to Jan. 1, 2017. Financial professionals using the tool can also set their own net new assets criteria to focus on factors that matter most to their business,
Barclays Bank Launches No-Fee ETNs
The ETNs are its first no-fee exchange-traded products (ETPs) offering exposure to precious metals, the company said.
The iPath Gold ETN tracks the Barclays Gold 3-Month Index Total Return (BCC2GC3T), while the iPath Silver ETN track the Barclays Silver 3-Month Index Total Return (BCC2SI3T). Each index was designed to reflect: (1) the performance of specified gold or silver futures contracts, respectively, that will become the first liquid nearby futures contracts three months in the future in accordance with a specified schedule and (2) the return that corresponds to the weekly announced interest rate for specified 3-month U.S. Treasury bills, the company said.
OpenInvest Offers Personalized ESG Portfolios to BancWest
Separately managed account asset manager OpenInvest is now offering financial advisors at Bank of the West’s BancWest Investment Services access to customizable values-based portfolio generation tools.
OpenInvest’s technology will allow BancWest to generate customized investment portfolios tailored to each client’s values “at a granular level,” the companies said. Offering a prediction, Joshua Levin, OpenInvest chief strategy officer and its co-founder, said “mass customization is the future of wealth management.”
The OpenInvest platform integrates multi-sourced environmental, social and governance data that “consistently updates to stay best-in-class,” it said.
Scientific Beta, J.P. Morgan Launch New Portfolio Solutions
Scientific Beta and J.P. Morgan teamed up to provide a new set of solutions they said are designed for institutional investors to access single factor indices.