Schwab Adds YieldX to Listings Program: Tech Roundup

What You Need to Know

The YieldX fixed income digital platform has joined the Schwab Advisor Services Provider Listings program.
Fidelity’s eMoney Advisor is marking Financial Literacy Month in April with several new and ongoing initiatives.
Ryan Hicke, SEI EVP and CIO, will become the firm’s next CEO and join its board of directors, effective June 1.

The YieldX fixed income digital platform has joined the Schwab Advisor Services Provider Listings program.

Schwab’s program, which launched in 2013, is a dedicated space for independent registered investment advisors to research and learn about third-party technology providers serving the RIA industry and the solutions they provide, YieldX pointed out in its announcement on Wednesday.

The YieldX platform uses artificial intelligence-based analytics. The company, founded in 2019, closed on a Series A funding round in the fall that it said was backed by a “substantial investment” from Envestnet, a new partner.

Envestnet and YieldX announced in October they were entering into a strategic relationship under which Envestnet invested in YieldX and would distribute YieldX technology and products through the Envestnet platform.

Being part of the Schwab listing program “affords us a substantial opportunity to reach more advisors who are researching technology-enabled solutions that can help them leverage the power of fixed income for their clients,” according to Ben Hurn, senior vice president of channel business development at YieldX.

“Historically, many advisors have been unable to put fixed income to work because of the time-consuming, expensive nature of [manually] managing these investments and customizing well-diversified portfolios,” he said in the announcement.

Advisors can view the live YieldX listing at advisorservices.schwab.com/provider-solutions/YieldX.

New eMoney Initiatives

Fidelity’s eMoney Advisor is marking Financial Literacy Month in April with initiatives it said Wednesday were designed to engage employees in their own “financial wellness journey” and support financial advisors in their efforts to increase financial literacy among clients.

The resources that eMoney is providing include Heart of Advice blog content, continuing education programs, internal workshops and special events.

The blog provides industry insights and best practices on various topics financial professionals face today, including financial literacy and wellness. There are several articles available now, including “Prioritizing Financial Education in Your Practice” and “A Brief History of Financial Literacy and Its Importance Today.”

Meanwhile, with interest in cryptocurrency growing, it can be tough for advisors and brokers to keep up with how to talk to clients about crypto, eMoney said, pointing to its own recent data showing that 43% of U.S. adults rank that as their top investment.

SEI Names New CEO

Technology and investment solutions company SEI announced that Ryan Hicke, currently its executive vice president and chief information officer, will become the company’s next CEO and join its board of directors, effective June 1.

Hicke will succeed founder Alfred P. West Jr., who is transitioning from CEO to the role of executive chairman after “leading and growing SEI for more than 50 years,” according to the firm.

The executive management team, now reporting to West, will report to Hicke starting June 1, the company said.

Hicke has been with SEI for 24 years. During that time, he’s held several senior leadership positions across the company’s global businesses, playing a key role in creating and executing SEI’s business strategy, the firm said.

Hicke previously served as a senior vice president, leading SEI’s U.K. asset management and private banking businesses and “significantly” contributed to the expansion of SEI’s worldwide footprint, it said.

“West will work closely with Hicke and SEI’s executive management team to ensure a smooth and successful transition,” the company said, adding West will continue to be focused on “further advancing SEI’s position as a global provider of technology and investment solutions that connect the financial services industry.”

As of Dec. 31, SEI managed, advised or administered about $1.3 trillion in assets, it said.