What You Need to Know
- RBC Wealth will use the Broadridge Wealth Management Platform to power its growing U.S. business.
- Dynasty Financial Partners added two fintech executives to its team.
- SEI is integrating Wealthbox, a CRM software service designed specifically for financial advisors.
RBC Wealth Management will use the Broadridge Wealth Management Platform to power its growing U.S. business, the firms said Thursday in a joint announcement.
Broadridge’s platform enables wealth management firms and their advisors to “drive their business to the next level by creating a better client experience, improving advisor productivity, and digitizing the back-office,” the firms said.
As part of the multi-year deal, RBCWM will also be migrating to Broadridge’s next-generation Asset Servicing platform, they said.
The move is part of RBCWM’s “multi-year technology transformation” and “represents the latest in a series of investments in state-of-the-art, third-party” fintech tools and services, according to the announcement. The firm also integrated Salesforce and Addepar into the business to provide advisors with better client insights, performance reporting and portfolio management tools to serve a client’s needs more quickly and easily.
Separately, Broadridge said Wednesday it will work with data cloud company Snowflake to enhance its global asset management clients’ decision-making processes via data visualization and analysis.
Dynasty Hires Fintech Execs
Dynasty Financial Partners added two fintech executives: Frank Coates, named chief technology officer, and Taylor Howard, appointed to the new position of chief digital officer.
Both executives will be based in St. Petersburg, Florida, and report directly to Ed Swenson, Dynasty chief operating officer, it said Wednesday.
Coates was previously an executive managing director and co-group president at Envestnet Analytics. Prior to joining Dynasty, Howard led the artificial intelligence, application engineering, digital workplace and data analytics practices of global digital transformation and consulting firm AgileThought.
As CTO, Coates will be responsible for providing next-generation technology solutions to Dynasty’s client base and support Dynasty’s and Envestnet’s partnership with digital solutions through the Advisor Services Exchange (ASx), Dynasty said.
As CDO, Howard will focus on Dynasty digital architecture — digital enablement and key proprietary Dynasty products that include the advisor business solutions dashboard, benchmarking and integrations, it said.
Dynasty now has 46 network partner firms on its platform with over $60 billion in client assets combined, it noted. The company has hired 19 professionals since January and “plans to hire an additional 12 professionals this year in its St. Petersburg headquarters,” it added.
SEI Teams With Wealthbox
SEI announced a strategic partnership and technology integration with Wealthbox, a client relationship management (CRM) software service designed specifically for financial advisors.
Wealthbox joins the almost 50 technology integrations and strategic partnerships now available to independent advisors using the SEI Wealth Platform.
Via the integration, advisors can “seamlessly view client profiles, account details and investment positions in the SEI Wealth Platform through single sign-on via Wealthbox,” the firms said in a joint announcement.
Key features include: “Contact management with an easy-to-view layout and note-taking interface to track interactions and financial information; social profile inclusion to monitor and engage prospects and clients on priority social platforms; automated and customizable workflows to streamline client and prospect interactions”; and a mobile application that is “fully synced with a web-based account for on-the-go access to account information,” the companies said.
iCapital Network Raises $440 Million
iCapital Network raised $440 million in a new funding round, it said Tuesday.