What You Need to Know
- Meanwhile, AdvisorPeak becomes the first trading and rebalancing platform on the Invent cloud technology platform.
- Altruist raised $50 million in Series B funding for its all-in-one, paperless platform for advisors.
- TradePMR launches an enhanced digital account transfer tool for breakaway brokers and existing RIAs.
BlackRock entered into a strategic partnership with FlexTrade Systems, a provider of multi-asset execution management systems (EMS).
The partnership represents a commitment to further integrate FlexTrade’s capabilities with BlackRock’s Aladdin portfolio management platform and jointly create enhanced experiences for their common clients in the Aladdin community, the companies said in a joint announcement.
FlexTrade’s capabilities in the EMS space complement the Aladdin platform’s existing order execution management system (OEMS) capabilities, the firms said. The companies will offer a “tightly integrated, multi-asset solution to clients for the entire trading lifecycle,” they said.
By deepening the integration of FlexTRADER EMS’s capabilities with the Aladdin platform, the companies are making it easier for common clients to access trading functionalities of both platforms all in one place, “increasing interoperability, transparency, and productivity,” they said.
Clients will see enhancements to their trading experience via integrated workflows, shared data sources, increased end-to-end automation and premier support services, the companies said.
AdvisorPeak Added to Invent Platform
AdvisorPeak and Invent.us announced a strategic partnership on Thursday in which AdvisorPeak has become the first trading and rebalancing platform to be offered on the Invent cloud technology platform.
AdvisorPeak joins Invent’s ecosystem of prebuilt integrations and application programming interfaces (APIs) that are cloud agnostic and work seamlessly with the unique needs of wealth management firms, the companies said in a joint announcement.
AdvisorPeak’s trading solutions are now available to seamlessly integrate with more than 17,000 users on the Invent platform, they said.
Altruist Gets $50M in Funding
Altruist raised $50 million in Series B funding for its all-in-one, paperless platform for advisors that it said makes personalized financial advice “less expensive, more efficient, and more inclusive.”
The financing round was led by global venture capital and private equity firm Insight Partners, with follow-on participation from Series A investor Venrock, as well as Vanguard, Altruist said on Wednesday.
Altruist serves RIAs with an integrated digital platform that it said enables them to open accounts, invest, build models, report and bill, all in one place. “Automations across the platform save advisors time by eliminating mundane operational tasks,” it said.
The efficiencies enabled by the platform allow advisors to concentrate on better- serving their clients instead of spending time administering accounts, according to the company. Clients, meanwhile, reap the benefits of having a personal advisor, as well as the best parts of smart technology, it said.