What You Need to Know
- As part of a new partnership, Kestra advisors will be able to use AdvicePay’s recently launched Engagements workflow platform.
- Riskalyze appointed Dr. Shari Hensrud, formerly of Refinitiv, as vice president of risk and analytics.
- Envestnet integrated with FP Alpha, an artificial intelligence-driven, holistic financial planning solution.
Kestra Financial selected AdvicePay’s billing and payment processing platform for financial professionals, the companies said in a joint announcement on Wednesday.
As part of the partnership, Kestra advisors will be able to use AdvicePay’s recently launched Engagements workflow platform that enables them to automate the entire lifecycle of fee-for-service financial planning engagements, the firms said.
The Engagements platform includes originating planning agreements, captures digital signatures, matches agreements with invoices, and processes client payments electronically, while ensuring that financial plans are delivered to clients — all in one comprehensive system, according to the companies.
AdvicePay’s end-to-end platform and automated workflows are launched from Kestra’s financial professional platform, creating greater efficiency and productivity, while also providing compliance assistance, the firms said.
AdvicePay was started by financial advisors Michael Kitces and Alan Moore, who serves as its CEO.
As of Dec. 31, Kestra had more than 1,800 registered representatives, with $96 billion in assets under administration and $41 billion in assets under management.
Riskalyze Adds to Management Team
Riskalyze appointed Dr. Shari Hensrud as vice president of risk and analytics, the company said Tuesday.
Hensrud is heading the firm’s risk methodology, its coverage of securities, products and solutions, its analytics including the Risk Number and Riskalyze GPA, and its development of advanced risk functionality across the platform, the company said.
Prior to joining Riskalyze, Hensrud served as head of product management for wealth at Refinitiv, where she was responsible for driving product innovation and development for its platform that served 180,000 users across 2,000 firms, Riskalyze said.
Before that, she was president and chief investment officer at FolioDynamix, managing $7.5 billion in AUM and $19 billion in AUA as a part of the Folio platform before its acquisition by Envestnet in 2017.