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Atria Wealth Solutions Teams With Riskalyze to Help BDs: Tech Roundup

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Atria Wealth Solutions and Riskalyze on Wednesday announced a new partnership that they said equips nearly 2,500 financial professionals registered through Atria owned broker-dealers with access to Riskalyze.

The partnership is the latest announcement in support of Atria’s “accelerating growth,” the companies said, noting Atria BDs have seen “strong financial professional recruitment and growth of existing financial professionals practices.”

That, in conjunction with its 2020 acquisition of independent BD Western International Securities and its recent announcement that it plans to acquire SCF Securities, are “driving this rapid expansion,” according to Atria. Atria’s subsidiaries combined support almost 2,500 financial professionals and $90 billion of assets under administration, it says.

By adding Riskalyze to the Atria network advisor platform, Unio, and client platform, Clear1, financial professionals will “have the option of capturing even more important data points to create comprehensive financial plans for the growing needs of their clients and prospects,” the companies said.

eMoney Advisor Expands Financial Wellness Efforts

Fidelity Investments’ eMoney Advisor has entered into a collaborative and consultative partnership with Mac Gardner, a certified financial planner, financial literacy advocate, author and founder of FinLit Tech, a company focused on building the bridge between financial literacy and financial technology.

The partnership is designed to further expand eMoney Advisor’s financial wellness efforts following the recent launch of Incentive, its new self-led financial planning and wellness app, it said Thursday.

Gardner will serve as both a consultant and brand ambassador for eMoney, “evangelizing the importance of financial wellness to the industry and beyond through events, panel discussions, eMoney’s Heart of Advice blog and more” as part of the pact, the company said.

The firm plans more financial wellness initiatives coming in 2021, starting with a financial wellness series in April as part of financial literacy month, it said, adding it plans to share more details in the weeks and months to come

The company on Thursday also shared findings from a recent study on how COVID-19 has impacted the overall well-being of Americans. The results show that nearly three-fourths (73%) of respondents felt their financial situations in 2020 had a negative or extremely negative impact on their mental health, indicating a deficiency in financial wellness, the company said.

According to the same eMoney study, 61% of respondents said COVID-19 made their financial situation worse, while nearly a third (32%) said that not being able to find reliable and sound financial advice, along with a lack of understanding or financial education, were their largest barriers to achieving financial wellness.

More Firms to Get Access to Morgan Stanley’s Shareworks

Morgan Stanley signed a deal with legal services provider Wilson Sonsini Goodrich & Rosati that the companies said will enable privately held companies using Wilson Sonsini’s proprietary capitalization management software to migrate to the Shareworks by Morgan Stanley capitalization and stock plan platform.

“Morgan Stanley intends to be the leader in capitalization management for private companies and early stage startups, helping them to manage the complexities of their equity and employee stock plans,” according to Jed Finn, head of Corporate and Institutional Solutions at Morgan Stanley Wealth Management.

This deal, combined with Morgan Stanley’s acquisitions of stock-plan administrator Solium Capital in 2019 and E-Trade last year, “are a part of our long-term strategy to be the premier provider of financial solutions to workplace employees,” he said in a statement.

Morgan Stanley has been building a comprehensive suite of digital and wealth management tools critical for the workplace, it noted. Morgan Stanley acquired Solium Capital Inc. in May 2019 and rebranded that firm Shareworks by Morgan Stanley.

Shareworks is now part of the Morgan Stanley at Work suite of financial solutions that encompasses Equity Compensation (including E-Trade Equity Edge Online), Retirement Solutions and Financial Wellness (including Gradifi by E-Trade).

Broadridge Launches Wealth Lending Network Marketplace

Broadridge Financial Solutions launched a Wealth Lending Network marketplace to connect wealth managers to banks and other financial services institutions.

The marketplace will enable wealth managers of all sizes to offer securities-based lending services to their clients using Broadridge’s end-to-end SBL technology platform. The Bancorp is joining the marketplace as the first funding partner via  its subsidiary, The Bancorp Bank.

“Demand for SBL credit continues to grow, proving attractive to both borrowers looking to access liquidity in their portfolios and to lenders as a low-cost, low-risk credit offering,” according to Broadridge.

The Broadridge Wealth Lending Network extends current lending models, enabling financial institutions, including financial advisors, RIAs and independent broker-dealers to offer SBL to clients on a turnkey basis, Broadridge said.

MSCI Teams With Microsoft

MSCI is developing an Investment Solutions as a Service offering for the global investment industry in collaboration with Microsoft.

The new service will enable institutional investors to use next-generation technologies, advanced analytics and big data to “help anticipate and address key strategic and investment challenges,” MSCI said.

The service is being built to “align long-term technology and data trends with the immediate needs of investors” and will combine Microsoft’s cloud and artificial intelligence technologies with MSCI’s data sets, analytical models and “expertise of the global investment industry to power next-generation investment decision making,” MSCI said.

Investment Solutions as a Service will launch this year, starting with: Environmental, Social and Governance (ESG) Solutions as a Service; Index Solutions as a Service; Data Management Solutions as a Service; and Investment Analytics Solutions as a Service.

The solutions are a part of a strategic alliance created between MSCI and Microsoft in 2020 to accelerate innovation in the global investment industry.


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