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RBC Clearing Launches New Tech Platform for RIAs, BDs: Tech Roundup

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What You Need to Know

  • The new RBC Nexus technology platform has launched for RIAs and independent BDs.
  • Catchlight's new AI-driven growth optimization tech has been integrated with Redtail Technology’s CRM solutions.
  • AssetMark launched a values-driven investing program and released its first ESG report.

RBC Clearing and Custody has launched RBC Nexus, a new unified technology platform and secure entry point for all registered investment advisors and independent broker-dealers, it said.

RBC Nexus is the “only platform financial professionals need to conduct all business with RBC C&C, minimizing the need to access multiple applications or manage integrations,” the RBC Capital Markets division said.

The new platform was developed to “help financial professionals more efficiently manage their client relationships, operate their book of business and access RBC C&C’s full array of technology tools in one place,” it said.

Along with managing their books of business in RBC Nexus, financial professionals can take advantage of several new integrated capabilities, including a new digital account opening platform powered by Docupace and client asset reporting with RBC C&C’s new performance reporting solution powered by Addepar.

“RBC Nexus centralizes all these functionalities, and more, at no additional cost,” and is device and operating system agnostic, the company said.

“RBC Nexus is the culmination of a three-year technology transformation journey that will reinvent the advisor and client experience for firms that clear and custody through RBC C&C,” Noel Stave, RBC C&C CTO, said in a statement.

“We’ve invested more in technology during the past three years than ever in our forty years in the business,” he added.

Catchlight Integrates With Redtail

New artificial intelligence-driven growth optimization technology from Catchlight Insights has been integrated with Redtail Technology’s client relationship management solutions for financial services firms, the companies said Tuesday.

The Catchlight AI tech, which was developed in Fidelity Labs, the software incubator for Fidelity Investments, helps advisors quickly uncover their best leads, according to the firms. The integration with Redtail will make it easier for advisors to “understand and prioritize their roster of potential clients,” the companies said.

Catchlight uses institutional data partners and analysis of more than 100,000 successful conversions to find leads who are most likely to need an advisor’s help, the companies said.

Orion Advisor Solutions recently announced it’s buying Redtail for an undisclosed price.

Catchlight is available for advisors on an early access basis, with a full launch to follow on May 2.

AssetMark Launches Values-Driven Program

AssetMark launched a values-driven investing program and released its inaugural environmental, social and governance report.

The company’s new values-driven investment solutions “give advisors the ability to align their clients’ portfolios with their personal values consistent with their overall financial goals,” the firm said.

The first set of strategies launching on the AssetMark platform include: BlackRock Target Allocation ESG Models, Nuveen ESG Growth Model Portfolios, Brown Advisory Large-Cap Sustainable Growth and AllianceBernstein Sustainable Global Thematic ADR Portfolio.

Advisors will also have access to a suite of resources including client discovery tools, due diligence resources, ESG/impact reporting and educational materials.

Broadridge’s LTX Launches Buy-Side Group

Fintech firm Broadridge Financial Solutions created a new Buy-Side Advisory Group for LTX, its AI-driven electronic trading platform, it said Thursday.

The Advisory Group will play a major role in “evolving LTX and contributing to the development of solutions that drive greater efficiency and liquidity in the bond market,” according to Broadridge.

The Buy-Side Advisory Group is made up of senior credit traders at LTX client firms including AllianceBernstein, American Century Investments, BlackRock, Invesco, MetLife Investment Management, Pimco and PineBridge Investments.

“Members will provide expert user-level insight and advice on the development and enhancement of the LTX platform including on product usability, development prioritization, buy-side execution workflows, dealer expectations, and data handling,” Broadridge said.

Holistiplan Hits 10,000 Users

Holistiplan’s tax software platform is now being used by 10,000 financial advisors across the U.S., it said Tuesday.

Holistiplan helps advisors systematize and automate the process of reviewing a client’s tax return to find potential planning opportunities.

To celebrate the usage milestone, Holistiplan said it’s launching a new two-part public service initiative: part one to serve advisors assisting pro bono clients and part two to provide 10,000 meals to No Kid Hungry.

Pontera Integrates With Advent Network

Fintech firm Pontera’s tech platform has been integrated with SS&C’s Advent Custodial Data network, the companies said Thursday.

Pontera’s platform enables financial advisors to trade and manage retirement assets in a secure and compliant manner. The integration provides held-away account data for firms using SS&C’s advisory solutions.

Pontera users can now view, report, supervise and bill on 401(k), 403(b) and other held-away accounts managed on its platform through the Advent Custodial Data Network, including the Black Diamond Wealth Platform, Axys, Advent Portfolio Exchange and Geneva.

Bonsai Integrates With FIDx Platform

Fiduciary Exchange has forged a strategic partnership with Bonsai that includes an integration allowing RIAs and hybrid advisors to access annuity solutions available on the FIDx platform and manage them alongside all other client assets, the companies said Monday.

Bonsai was founded to empower RIAs and hybrid advisors with the tools and tech they need to provide “truly holistic wealth management,” according to the company. It seeks to help financial professionals manage a client’s full balance sheet, including assets and liabilities — a model it said has historically only been available to institutional and ultra-high-net-worth investors.

Via the FIDx platform, annuity products from the industry’s leading insurance carriers will be available across Bonsai’s three key service offerings: Bonsai Exchange, Bonsai Advisors and Bonsai Consulting.

Zephyr’s PSN Teams With APX Stream

Informa subsidiary Zephyr announced a partnership between its PSN SMA Data Group and APX Stream, which it said will give investment managers the ability to expand the publication of their data to more than 50 global databases, DDQ’s/RFP’s and collateral.

APX Stream offers economical automated connectivity to investment managers of all sizes with an enterprise-quality solution for their investment data assembly, warehouse management and distribution process.

Zephyr’s PSN SMA data is used by BDs, banks, investment consultants, wealth managers and institutional investors, as the first step in the due diligence process to search and assess potential asset management relationships.

“By partnering with APX Stream, PSN can now offer the managers whose data forms the basis of this due diligence a streamlined, turnkey solution for investment data management and expanded marketing distribution,” Zephyr said.

CAIA Introduces UniFi Platform

The Chartered Alternative Investment Analyst Association launched UniFi by CAIA, a new platform it said was designed “specifically for the needs of professionals serving the private wealth management industry whose investment toolkit is increasingly being augmented by the ongoing democratization of alternative investment strategies.”

The new platform will allow participants to complete a series of online modules in several key alternative investment categories, including private equity and private credit.

Upon completion of the modules, participants will “earn a microcredential that will serve as a key signal to clients, colleagues, and the industry that they have achieved a notable level of knowledge around a specific topic,” CAIA said.

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