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Portfolio > Portfolio Construction

MaxMyInterest Integrates With Morningstar: Tech Roundup

By Jeff Berman

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MaxMyInterest’s cash management platform has become integrated with the Morningstar ByAllAccounts aggregation service for advisors.

The initial integration includes the ability to deliver client balance information into 40 platforms used by advisors for their client reporting, MaxMyInterest said.

The integration will enable MaxMyInterest to “reach a wider group of financial advisors and enable them to better serve their clients,” Michael Halloran, head of Partnerships and Business Development at Max, said in the announcement.

Currently, MaxMyInterest and the Max For Advisors program allow advisors from more than 1,000 wealth management firms and their clients better manage portfolio cash and held-away cash while earning preferred rates at some banks, with “top rates that currently deliver more than five times the yield of a typical money market fund or 80 to 100 basis points more than a traditional bank or brokerage firm, all while remaining same-day liquid and FDIC-insured,” he added.

Morningstar ByAllAccounts uses artificial intelligence to collect, consolidate and enhance financial data that can be delivered into any platform, providing clients with a unified view of their investment holdings.

E-Trade Launches API Developer Platform

E-Trade Financial Corporate Services launched the application programming interface-based E*TRADE Equity Edge Online (EEO) Developer Platform.

The new platform enables stock plan administrators and their technology teams to create APIs that “leverage the extensive capabilities” of E-Trade’s Equity Edge Online platform, including submitting participant, grant, payroll and transactional data, the firm said.

Additional Developer Platform functionality includes the ability to: Move data in and out of EEO in a more customizable, configurable and efficient format; automate workflows that were historically manual processes, ultimately streamlining key tasks including onboarding; integrate applications and payroll directly into EEO; and monitor, manage and govern participant transactions more easily, the company said.

“Especially in this remote-work environment, stock plan administrators depend on efficient and easy-to-use technology to keep their day-to-day operations running smoothly,” according to Scott Whatley, president of E-Trade Corporate Services.

Envestnet Rolls Out New Advisor Playbook

Envestnet introduced The Advisor’s Playbook for Leading Your Clients Forward that outlines the COVID-19 pandemic’s “far-reaching impact on the wealth management industry — and the steps financial advisors can take to adapt,” it said.

The Advisor’s Playbook for Leading Your Clients Forward can be downloaded at https://www.envestnet.com/leading-clients-forward.

Envestnet will hold a webinar, “Leading Clients Forward In Uncertain Times,”  discussing The Advisor’s Playbook on July 23 at 4 p.m. ET.

Envestnet Teams With Swan

Envestnet partnered with asset management firm Swan Global Investments to make Swan’s suite of investment products available to thousands of financial advisors and their clients, Swan announced.

The Swan Defined Risk Strategy, launched in 1997, is intended to help investors navigate and capitalize on bear markets. The partnership with Envestnet “comes at a time when advisors will need to consider identifying redefined strategies for their clients that effectively manage risk and market uncertainty,” Swan said in the announcement.

As part of the pact, all of Swan’s strategies in open-end mutual fund and separately managed account structures, in addition to its Global Hedged Equity Models, are immediately available on the Envestnet platform for use by enterprises and advisors, Swan said.

Swan also provides customized Option-Overlay Strategies that advisors can apply to their own equity portfolios to help clients achieve their investment objectives, it noted.

Apex Clearing, Marstone Launch Digital Wealth Solution

The Marstone digital wealth management platform and Apex Clearing custody and clearing engine have become integrated as part of a strategic partnership that the companies said will enable advisors to “deliver superior client and advisory services via wealthtech solutions by tapping into the strengths of both firms.”

The companies plan to bring new, “tech-forward solutions to market together in the coming months, and this launch serves as just the beginning of our joint mission to modernize investing in the digital wealth space,” according to Bill Capuzzi, CEO of Apex Clearing.

The new partnership “will benefit investment management firms, insurance companies, and organizations with large financial services practices — or others that are expanding their businesses into financial services — that face high demand for digital experiences and capabilities,” the firms said in a joint announcement.

“In the future, innovations could come to include advisor tools and more,” it added.

— Check out New Risk Tool Launched: Tech Roundup on ThinkAdvisor.

Jeff Berman

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