What You Need to Know
- Fintech startup Indyfin has launched an Investor Experience Platform.
- Nasdaq and crypto-focused asset manager Hashdex introduced a digital assets curriculum.
- RIA wealth management platform Addepar joined the Open Cap Table Coalition.
A new fintech platform that enables investors to find the best advisor for them launched Thursday and is being touted by its creator as the Yelp of the wealth management sector.
Following a recent $2.2 million investment round, Indyfin’s Investor Experience Platform was designed to “redefine the way investors find, research, review and interact with financial professionals,” according to the startup.
The platform was made possible by a recent change in the Securities and Exchange Commission’s marketing regulations to allow for endorsements, testimonials and client reviews in the sector, according to Akshay Singh, Indyfin founder, who has a background in financial services and fintech.
Indyfin matches investors with advisors who are the most suited to their needs based on factors including wealth levels and long-term goals, he told ThinkAdvisor during an interview and online demonstration, noting the platform uses machine learning technology.
Advisors must go through a rigorous vetting process to join the Indyfin network, the company said.
Once approved, advisors receive marketplace referrals of well-suited clients. Advisors don’t pay for getting meetings with prospective clients on their calendars. “They are only charged a fee when they win a client,” the company said.
Thursday’s official launch followed a beta test that included over 100 advisors, Singh told ThinkAdvisor, adding many more advisors have expressed interest in it.
One of the advisors who participated in the beta, Fredrick Standfield, registered investment advisor and founder of Lifewater Wealth Management in Atlanta, Georgia, told ThinkAdvisor by email: “Indyfin has built an advisor focused solution that enables me to easily gather and share client feedback in the future.”
Standfield also said he likes that the platform shares each advisor’s background with prospective clients. “This helps build trust with prospects and provides client ratings that are the standard on many consumer facing ecommerce platforms,” he said.
Another plus, he said: The Indyfin team is “very knowledgeable and responsive.”
Nasdaq, Crypto-Focused Asset Manager Launch Digital Assets Curriculum
Nasdaq and Hashdex, a global crypto-focused asset manager, have launched the Nasdaq Advisor Academy digital assets curriculum.
The 12-part course is open to all financial professionals free of charge and was designed to “provide informative and educational resources for financial advisors on the evolution of the digital asset ecosystem, investing considerations, regulation, taxes and more,” the companies said Thursday in a joint announcement.