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Technology > Investment Platforms

Ex-Cetera CEO Larry Roth to Advise Cloud Tech Firm: Tech Roundup

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Industry veteran Larry Roth has been appointed strategic advisor at INVENT, a cloud technology firm that says it serves more than 14,000 users via broker-dealers and RIAs. Companies that have used its cloud technology include Cambridge Investment Research.

In this role, Roth will “align his expertise in investment banking and growth planning with his network of strategic relationships” with INVENT to “drive accelerated expansion” as the company starts its next growth stage, the firm said.

He will build out an advisory board of “seasoned wealth management industry leaders and influencers who will further support the company’s broader growth objectives,” it said. Additionally, “on a highly selective basis,” he will provide strategic guidance to the company’s INVENT Elite consulting team, it said.

Roth will continue to serve as managing partner of M&A advisory and private equity investment firm RLR Strategic Partners. He previously served as CEO of Cetera Financial Group (2014-2016) and CEO of Advisor Group (2006-2013).

Cetera Teams With Simon Annuities

Cetera Financial Group and Simon Annuities and Insurance Services have announced a new collaboration that delivers Simon’s insurtech platform for annuities to all Cetera financial professionals.

The annuities solution launch expands the relationship between the companies, following the launch of Simon’s end-to-end solution for structured investments to Cetera financial professionals in 2019.

Simon’s Insurtech solution is the latest launch at Cetera focused on enabling its advisors to deliver an “advice-centric experience” to clients and is aligned with a philosophy the firms share: “empowering financial professionals with the tools and resources they need to bring more to life for their clients,” the companies said in a joint announcement.

The Simon annuities platform streamlines product education, including National Association of Insurance Commissioners training, and offers product analytics and illustration capabilities in one centralized location.

Simon’s established relationships and “seamless integration” with many annuities carriers provide Cetera’s network of independent financial professionals “choice and efficiency in serving the portfolio needs of their clients,” the companies said.

Envestnet | Yodlee Partners With B2B Platform

Envestnet | Yodlee is partnering with Productfy, a developer-focused business-to-business fintech platform that provides embedded financial products, to offer a single platform for quicker development of financial products and solutions for fintech startups.

Through the partnership, fintech developers who use Productfy’s platform will have immediate access via a single interface to Envestnet | Yodlee’s data aggregation and account verification services, along with Automated Clearing House, “know-your-customer,” card issuance, credit data and other capabilities also offered through Productfy, the companies said in a joint announcement Tuesday.

Transamerica Selects Clearwater Analytics for Data

Software-as-a-service (SaaS) solutions provider Clearwater Analytics is implementing its cloud-based investment data management and reporting solution for Transamerica, the companies said.

Clearwater’s cloud-based, automated platform will help the financial services company manage investment data aggregation, reconciliation, accounting and reporting, they said in a joint announcement.

“Implementing the Clearwater platform is part of Transamerica’s efforts to drive innovation and efficiency while eliminating the need for in-house resource commitment to IT maintenance and support of portfolio data consolidation and reconciliation,” the companies said.

“The Clearwater solution will help streamline how we manage our data,” according to Michiel van Katwijk, Transamerica CFO.

Kalos Partners With AIX

Broker-dealer Kalos Financial has teamed with Alternative Investment Exchange (AIX), a platform making it easy to buy, own and sell alternative investments, to improve the alternative investing experience for advisors and their clients.

The pact has enabled Kalos to “greatly streamline its alternative investment transaction process by affording its advisors a point and click experience much the way mutual funds are traded,” the companies said in a joint announcement.

AIX provides a “fully paperless process, front-to-back, with no manual intervention that is transforming the way alternative investing is done,” according to the companies.


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