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RIA in a Box Bought by ComplySci: Tech Roundup

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What You Need to Know

  • Riskalyze has added Pulse 360 to its advisor productivity suite.
  • Broadridge appoints Dipti Kachru to the role of global chief marketing officer, effective Jan. 18.
  • Dayton, Ohio-based RIA Dover Partners implemented intelliflo’s RedBlack rebalancing and trading software.

ComplySci, a provider of regulatory technology and compliance solutions for the financial services sector, has acquired RIA in a Box, which will continue operating under its existing brand and leadership, the companies said Thursday.

Terms of the transaction, which already closed, were not disclosed.

“The combination accelerates innovation across ComplySci and RIA in a Box and will deliver superior software, service, data, and consulting to an even broader audience of financial services organizations, including hedge funds, private equity firms,” broker-dealers, RIAs and other wealth management firms, they said in a joint news release.

The acquisition was ComplySci’s third in the fourth quarter of 2021, following its purchases of illumis Inc., a data aggregator and tech provider for financial services firms (announced last month), and National Regulatory Services, a provider of compliance consulting services and tech solutions for advisors, BDs and other financial services firms (announced in October).

ComplySci’s growth surge this quarter follows a strategic investment from private equity firm K1 Investment Management.

The combined organization has more than 300 employees innovating the compliance process and bringing efficiency to more than 7,000 customers, the firms said.

RIA in a Box will continue to be led by Will Bressman, its CEO for the past 10 years, who will serve as president of the combined organizations and work directly with ComplySci CEO Amy Kadomatsu to execute the merged company’s growth strategy. RIA in a Box customers will continue to use its MyRIACompliance platform.

Riskalyze Adds Pulse360

Riskalyze and Pulse360 announced an integration of their platforms they said will “give financial advisors more efficient workflows” and also “enhance advisors’ meeting prep, note-taking and follow-up capabilities.”

Pulse360 uses automated technology software to fix remote and in-person workflow issues by “converging all aspects of the meeting documentation process — from the preparation process to any follow-ups that may be needed,” the companies said in a joint announcement on Monday.

The integration will make it more efficient for Riskalyze users to seamlessly click and send a risk questionnaire link to clients without wasting time looking for a file, they said. The Pulse360 software can be quickly integrated into Riskalyze users’ workflow in just a few minutes, according to the companies.

“For far too long, financial advisors have wasted countless hours sending detailed agendas, meeting notes, and reports to clients; this integration will help advisors increase their productivity and ultimately improve client communication,” according to Aaron Klein, Riskalyze CEO.

Broadridge Appoints Global CMO

Broadridge Financial Solutions appointed Dipti Kachru to the role of global chief marketing officer, effective Jan. 18. She replaces Deborah Bussiere, who left the firm to join Grayscale Investments as chief marketing officer.

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Kachru will be responsible for leading all aspects of Broadridge’s global marketing organization: brand and digital strategy, product positioning, lead generation and thought leadership, the company said. “She will focus on driving measurable growth, building Broadridge’s global brand reputation, expanding client relationships, and supporting the organization’s revenue growth ambitions,” it added.

She will be a member of Broadridge’s executive leadership team, reporting to Chris Perry, Broadridge president, and will be based in New York.

Kachru joins Broadridge from JPMorgan, where she most recently served as chief marketing officer for the Wealth Management division.

Ohio RIA Selects intelliflo’s RedBlack

Dayton, Ohio-based RIA Dover Partners implemented intelliflo’s RedBlack rebalancing and trading software, intelliflo said Thursday.

RedBlack provides the RIA with account and household level rebalancing, multi-tier portfolio models and integration with Clearwater Analytics’ investment accounting system.

Dover Partners was “looking for an alternative to its former rebalancing and trading software after experiencing inefficiencies using the system and felt RedBlack would be a better fit for its rebalancing needs,” according to intelliflo.

“Integration with Clearwater Analytics was a key requirement to enhance current workflows, reduce unnecessary manual work, and ensure continuity between systems,” intelliflo said.

THOR Integrates With ETF Action

THOR Financial Technologies announced an integration with ETF Action, an independent technology and research firm focused on helping advisors build better portfolios and navigate the exchange-traded fund landscape and RIA model marketplace.

THOR’s intelligence is now embedded into ETF Action’s dashboard, allowing advisors to differentiate themselves with technology-driven investment portfolios, the companies said Wednesday.

With the click of a button in the ETF Action dashboard, advisors can see how THOR instantly makes a portfolio dynamic, “providing the autonomy to choose their own investments while creating technology-driven models that improve risk adjusted returns over time,” they said.

Entreda Launches Credential Theft Monitoring

Entreda, a developer of integrated cybersecurity software and solutions for financial advisors and other regulated industries, launched Credential Theft Monitoring.

The proprietary solution “automatically and continuously scans the dark web for client firms’ compromised logins and passwords, then alerts users and provides remediation plans based on the risk exposure,” it said.