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Technology > Investment Platforms

Onramp Invest Raises $6M: Tech Roundup

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What You Need to Know

  • STP Investment Services launched the BluePrint platform for wealth managers.
  • Broadridge Financial Solutions acquired Alpha Omega, a post-trade solutions provider for the investment management industry.
  • Envestnet MoneyGuide added My Plan Builder, a new category of six blocks, to its MyBlocks digital client engagement tool series.

Onramp Invest raised $6 million in seed fundraising, with major contributions from Ritholtz Wealth Management, WisdomTree, Coinbase Ventures, Eterna Capital, Fox Ventures, Galaxy Digital, Galaxy Fund Management and Gemini Frontier Fund.

Onramp plans to use the funds to expand its service offering to RIAs, explore broker-dealer registration and increase the size of its engineering team, the crypto-asset integration platform for financial advisors said.

Since the platform’s official launch in late May, it started providing direct access to cryptoassets for RIAs last month, easy advisor client onboarding via Gemini and Prime Trust, a simple advisor enrollment that allows users to quickly start buying bitcoin and ETH for their clients, links to 10 different sources so advisors can see held-away assets, and educational materials for all cryptoassets comfort levels through the Onramp Academy.

Onramp also appointed Akin Sawyerr its chief innovation officer, promoted Justin Castelli to chief of staff, promoted Torie Happe to head of business development, and promoted Caitlin Cook to vice president of operations at Onramp Academy.

Envestnet MoneyGuide Launches My Plan Builder

Envestnet MoneyGuide launched My Plan Builder, a new category of six blocks, to its MyBlocks digital client engagement tool series that can serve as an on-ramp to planning for advisors and their clients.

The new blocks within the category are Your Goals, Investment Assets, Loss Tolerance, Retirement Income, Other Assets and Play Zone.

Advisors who subscribe to MyBlocks can share the new offering with clients. Advisors can also use the data collected within these blocks to update existing financial plans in MoneyGuide for those clients who already have one.

Although there are six My Plan Builder blocks, clients only need to fill out the first three: Your Goals, Investment Assets and Loss Tolerance. Clients view their financial plan results in the Play Zone Block that focuses on the planning factors they can control to help ensure their financial future.

FMG Suite Introduces Mobile App

FMG Suite, a Software-as-a-Service (SaaS) company specializing in marketing software and services for financial advisors, launched an FMG Suite mobile app for Apple iOS and Google Android devices.

The app allows financial professionals to easily discover and share timely, relevant content from the FMG Suite Content Library with their prospects and clients from anywhere via their mobile phones, the company said.

With the new app, FMG Suite subscribers will receive timely mobile notifications about new content addressing current events, breaking news and holidays, choose their audience, schedule and review email sends, and select social media profiles to share to, it said.

The app comes at no additional cost for those who select the FMG Suite Connect, Attract or Elevate marketing packages.

Broadridge Acquires Alpha Omega

Broadridge Financial Solutions acquired Alpha Omega, a post-trade solutions provider for the investment management industry.

The purchase follows Broadridge’s recent acquisition of Itiviti. The acquisition, which includes the remaining 68% of Alpha Omega, “will enable Broadridge to fully consolidate Alpha Omega’s post-trade matching and consolidation solution into its existing NYFIX connectivity and FIX infrastructure to better automate buy-side and sell-side firms’ trade matching processes and further accelerates Broadridge’s product roadmap,” Broadridge said.

Broadridge didn’t say how much it paid for Alpha Omega and did not immediately respond to a request for comment.

“Alpha Omega brings invaluable expertise in advanced FIX-based technology for asset managers and broker-dealers in all areas covering automated allocation, confirmation and affirmation of trades for equities, fixed income securities, and derivatives,” Broadridge added.

Theder Tapped for Board Seat

Susan Theder, Advisor Group chief marketing officer, has joined the board of directors of regtech firm ComplySci.

Also joining the board was Stephen Marsh, chairman and founder of electronic communications archiving provider Smarsh, ComplySci said Thursday. The appointments follow the $120 million strategic investment in the company in June by K1 Investment Management.

Theder and Marsh “bring deep industry knowledge and expertise to the board and will help [ComplySci] execute its long-term growth strategy as it continues to build its employee compliance solutions for financial services enterprises and considers expansion through acquisitions,” the firm said.

Theder has served as Advisor Group CMO since 2016, following tenures at Cetera Financial Group, Pershing and Fidelity Investments. In addition to leading various strategic marketing initiatives at Advisor Group, she “spearheaded the development and launch of MyCMO, a turnkey digital marketing platform offered to the network’s 10,000-plus financial advisors,” ComplySci said.

BluePrint Wealth Platform Launches

STP Investment Services launched the BluePrint platform that it said Thursday was “designed to minimize wealth managers’ operational pain points.”

The end-to-end investment operations service provider services more than $330 billion in total assets, it says. The firm’s technology-enabled services platform addresses core financial services firms’ needs including investment operations outsourcing, data reconciliation, trading and settlements, fund services, performance reporting and measurement, compliance oversight and internal control management.

STP provides an outsourced service model for RIAs, family offices, hybrids, outsourced chief investment officers, and investment managers supported by technology and integrations, as well as machine learning that it said gives firms the ability to “accelerate and streamline consuming and tedious manual processes.”

BluePrint aggregates daily transactions, positions, and securities and account information. The platform uses a data agnostic architecture to support integrations with all types of vendors, STP said. The system also incorporates client fee billing and invoice capabilities with custom reporting built in.

BluePrint has already integrated with Redtail Technology’s web-based client relationship management tool and the Riskalyze risk alignment platform, STP said.

(Image: Shutterstock)


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