What You Need to Know
- Blockchange integrated its digital asset TAMP with the Morningstar ByAllAccounts client account aggregation tool.
- AI-driven fintech platform Tifin closed on a $47 million Series C funding round that included Hamilton Lane.
- Envestnet invested in YieldX, while Addepar acquired AdvisorPeak.
Blockchange said Thursday that it has integrated its BITRIA Digital Asset turnkey asset management program with the Morningstar ByAllAccounts client account aggregation solution.
The integration “enables financial advisors to incorporate digital asset portfolio data into a comprehensive, holistic picture of their clients’ holdings, alongside the accounts held in traditional assets,” according to Blockchange, a digital asset investing solution provider for financial advisors and asset managers.
The integration also allows Blockchange’s separately managed account partners to better serve the needs of financial advisors and their clients, who will be able to access digital asset data within platforms they already use, it said.
Firms that will benefit from the integration include companies that use Addepar, Black Diamond Reporting, Envestnet Tamarac, Orion Advisor Services, Morningstar Office, eMoney Advisor, or any of the 22 portfolio accounting platforms that integrate with Morningstar ByAllAccounts for performance reporting, according to Blockchange.
Tifin Gets Hamilton Lane Investment
Artificial intelligence-driven fintech platform Tifin closed on a $47 million Series C funding round that included its first strategic investment from Hamilton Lane, the firms said in a joint announcement on Thursday.
The firms did not, however, say how much Hamilton Lane contributed of that $47 million and did not immediately respond to a request for comment.
The Tifin platform, which uses AI for wealth and asset management, uses data and investment-driven intelligence to “drive personalization for wealth management, and digital distribution for investment managers,” according to Tifin.
Cathie Wood, CEO and chief investment officer at Ark Investment Management, joined the Tifin board in July.
The latest investment round boosts Tifin’s valuation to $447 million, almost five times higher than its Series A round that it said was completed late last year.
Hamilton Lane joined J.P. Morgan Asset Management, Morningstar and Broadridge in the Series C round, after those other three firms made their initial investments in Tifin during its Series B round.
Tifin, which works closely with its strategic investors to facilitate innovation in the industry, will “partner with Hamilton Lane to explore adding alternatives to its suite of WealthTech capabilities,” according to the companies.
The additional capital, alongside existing funds from previous capital investments, will support Tifin’s “continued growth, additional acquisitions, as well as working with the strategic partners to help accelerate their fintech innovation initiatives,” it said.
Envestnet Partners With YieldX
Envestnet and YieldX announced they are entering into a strategic relationship under which Envestnet invested in YieldX and will distribute YieldX technology and products through the Envestnet platform.