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BNY Mellon Adds Natural Language Tech for Asset Managers, Clients: Tech Roundup

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The Bank of New York Mellon is collaborating with natural language generation technology company Arria NLG on an initiative designed to help asset managers and asset owners transform data into actionable analytics, the companies said Tuesday.

As part of a deal, BNY Mellon Data and Analytics Solutions clients can now “unlock better insights from their data through the power of natural language generation” provided by Arria, whose NLG capabilities have been integrated with the Eagle Performance and Data Management solutions suite, the companies said. Terms of the pact were not disclosed.

The initiative will “help clients to accelerate their data analysis and translate data into language and insights across investment data categories, including portfolio management, performance measurement and attribution analysis,” the firms said.

The integration of Arria’s NLG capabilities inside BNY Mellon’s platform will “help clients meet compliance needs while responding to constant market and regulatory changes,” according to Charles Teschner, global head of Data and Analytics Solutions at BNY Mellon. The collaboration will help BNY Mellon clients “generate consistent bias-free professional commentary, scale their data reporting operations and significantly reduce the time and effort in analyzing large volumes of data,” he said in the announcement.

Arria’s technology “helps generate automated, real-time insights and narratives in plain, easy-to-understand language directly from data,” Sharon Daniels, its CEO, said. The capabilities will provide “new potential sources of untapped alpha for BNY Mellon Data and Analytics Solutions’ clients to help them make better informed investment decisions and more effectively grow assets,” she said.

Addapar Introduces Marketplace

Addepar launched a Marketplace application within its wealth management technology platform that it said Monday enables clients to view and assess a variety of alternative investment offerings and digitally initiate transactions via trusted partners.

Marketplace, offered through Addepar’s subsidiary broker-dealer, Acervus Securities, is available to existing Addepar clients and features private equity and hedge funds, secondary market liquidity solutions, shares in private companies and cash programs, the Mountain View, California-based company said.

Marketplace clients can access and evaluate its financial products and solutions in a “modern, streamlined application and can transact seamlessly and securely on each partner’s execution platform,” Addepar said.

The ongoing “global pandemic and corresponding market volatility is our catalyst to launch this valuable offering,” according to CEO Eric Poirier. “Our clients are demanding longer-term investments that fuel lasting solutions, and the world now has a wide range of problems that we all must confront and solve together,” he said in the announcement, noting: “It’s time for market-driven forces to efficiently allocate capital and resources on a global basis as we collectively reach for a new normal — and one that’s better than the old one.”

Marketplace “unifies access to financial products like alternatives and private assets, which have historically been fragmented and opaque,” he said. Addepar clients manage and advise on almost $2 trillion in assets on its platform, with more than 35% held in alternatives and private assets, he said, adding: “Marketplace further empowers them to utilize the data and technology to make investments that deliver real results.”

At launch Monday, Marketplace has offerings for clients that include: hedge funds and private equity (made available via Artivest, with a partnership also coming with iCapital Network); liquidity solutions for fund interests (made available via Melting Point Solutions); private company securities (made available now via EquityZen and a partnership is also coming with Zanbato); and cash management (FICA For Advisors, a liquid extended FDIC insured cash deposit program with a competitive yield, and FICA For Impact, an impact cash solution that allocates deposits to hundreds of community banks across the U.S. that assist small businesses — both made available through StoneCastle Cash Management).

Addepar recently introduced the Addepar Assurance program, saying it was designed to make it easier for new RIA clients to gain access to its wealth management platform during challenging market conditions.

AdvisorPeak Partners With Shareholders Service Group

Independent RIAs that use the brokerage and custodial services of Shareholders Service Group now have access to AdvisorPeak’s online trading and rebalancing platform at a custom price.

“Advisors working with SSG look to us to provide them with the tools, technology and services they need to continue to efficiently and profitably grow their firms,” according to Dan Skiles, SSG president. “Our new relationship with AdvisorPeak fits perfectly with these goals, especially in this business environment where everyone works together to deliver excellent client service and results,” he said in a statement.

AdvisorPeak’s platform offers an intuitive user experience that allows advisors to “efficiently and accurately execute trades in a tax-efficient manner,” the companies said Friday in their joint announcement. The program monitors households and accounts, identifies tax-loss harvesting opportunities, provides real-time analysis and supports integrations with other software providers and custodians, the companies said.

The AdvisorPeak solution “offers intuitive trading and rebalancing technology that advisors can leverage to better serve their clients and position their practice for scalable growth over the long term,” Damon Deru, its CEO, said. Advisors that work with SSG are invited to attend one of AdvisorPeak’s scheduled webinars to see how the firm can streamline their back offices, he added.

CFRA Launches Research API Solution for Advisors

CFRA launched a new Research-as-a-Service application programming interface solution that it said enables improved research capabilities for financial advisors and their clients.

The RaaS API “allows for the seamless integration” of CFRA’s research and data into client portals, the investment research firm said Thursday.

Being able to leverage the firm’s research “can be a true differentiator when the content is integrated into user workflows, platforms and advisory solutions,” according to Eram Schlegel, CFRA chief technology and product officer. “Our clients have asked for access to atomized research content previously locked in a PDF to better serve their clients through a flexible, service-based approach,” he said in the announcement. Using the new API, advisory firms “can build innovative personalized user experiences for web and mobile applications, customized proposal generation, and tailored monthly reports for their advisors and clients,” he pointed out.

“By providing a completely dynamic Research-as-a Service delivery model, advisory firms can differentiate themselves and provide valuable resources to their clients, particularly in the challenging times in which we currently find ourselves,” he added. “Advisors will be able to spend less time mining for insights to share with their clients, and more time serving their clients with valuable interaction and guidance.”

CFRA’s API was the “result of an 18-month strategic investment in a new scalable cloud-based infrastructure designed for clients that want to deliver a personalized investment research experience,” the firm said.

The new suite of tools was designed to help clients deliver applications including an Idea Generation Hub that highlights timely topical research and is actionable based on emerging trends; a Screener to give tips on new investing ideas and risks to avoid; and personalized Research Dashboards for each advisor and client, it said.

Clients will be able to receive data and research directly in their applications or databases as it is published by CFRA’s analysts, it noted.