Wealthtech Roundup: F2 Strategy, FusionIQ, TIFIN, Envestnet And SEI

Chris Latham, Deputy Managing Editor, Wealth Solutions Report

F2 Strategy Expands Executives In Residence Program, FusionIQ Launches finTAMP, TIFIN Announces Client Personalization Platform, Envestnet Enhances Visibility Into Client Finances And The SEI Wealth Platform Partners With LifeYield

In this edition of the Wealthtech Roundup, we meet our newest “Wealthtech Leader of the Month,” Liz Fritz, Co-Founder and Chief Commercial Officer at F2 Strategy. Other entries this month include FusionIQ launching its digital finTAMP solution, TIFIN announcing an artificial intelligence-based platform for client personalization, Envestnet enhancing advisor visibility into client finances and the SEI Wealth Platform partnering with LifeYield.

1. F2 Strategy Doubles The Size Of Its Executives In Residence Program

Executive networking and research

F2 Strategy, a wealthtech management consulting firm founded in San Francisco in 2016, recently doubled the size of its Executives In Residence (EIR) program. The EIR has enrolled six members to date.

They network outside of the traditional, corporate, full-time structure to participate in client work, research or mentorship depending on their unique career goals. EIR members previously held key leadership roles at companies including AllianceBernstein, First Republic Bank, RBC Wealth Management Canada and Bryn Mawr Trust.

The consultancy’s 24 employees help sophisticated RIAs, banks, trusts, family offices and other financial firms enhance their technical capabilities as well as the tech-based experiences of firms’ advisors and clients. It works with firms representing $1.7 trillion in assets under management (AUM) on areas involving client relationship management, portfolio management, financial planning, reporting, account management and other software.

WSR Wealthtech Leader of the Month, Liz Fritz, Co-Founder and Chief Commercial Officer at F2 Strategy

F2 Strategy also advocates for intentional change management, and involving the voice of advisors – and their daily journey with their clients – into critical tech stack decisions from day one. And now for our quick Q&A with Wealthtech Leader of the Month Liz Fritz, Co-Founder and Chief Commercial Officer at F2 Strategy.

WSR: What type of executives are best suited to participate in F2 Strategy’s Executives-in-Residence (EIR)?

Fritz: Our Executives in Residence EIR program includes wealth management technology industry experts or former wealthtech executives who have gained a great amount of experience in their careers and are transitioning toward a new venture or are looking toward their next chapter upon retirement. 

At F2 Strategy, we understand that experience is a key factor in driving technology transformation today and we wanted to create a program that harnessed this expertise for our clients’ success and the success of the wealthtech industry overall to tap into.

WSR: What is the benefit of having collaboration among executives from different firms? What are some key wealthtech-related insights to come out of the program so far?

Fritz: By working with EIR industry veterans who have seen, experienced and successfully executed upon the tech challenges our clients face, their 1:1 strategy and mentorship sessions help make these critical decisions faster and therefore accelerate impact and ROI for these firms. The EIR program brings customized insights that large conferences don’t provide.

We have a new “What I’ve Seen” column authored by our EIR Mike Zebrowski. This was the first EIR insight to be published. He speaks to driving change through the evolution of data standardization and integration and the need for an industry data exchange. Our next one is by Dave Malone.

To learn more, view the press release here.

2. FusionIQ Launches Digital finTAMP Solution For Wealth Managers

Rolling out new solutions

FusionIQ, a software-as-a-service (SaaS) e-commerce workstation provider, announced the rollout of its new turnkey asset management platform for wealth managers, called finTAMP. The white-label solution provides digital account opening, workflows, a model marketplace as well as a portal for advisors and portfolio managers.

finTAMP utilizes DriveWealth’s API-based technology to provide investment models that allow advisors, clients and investors to interact digitally and choose from a list of vetted institutional quality model portfolios and strategies, according to the press release.

The platform strives to generate investment proposals and automate compliance obligations while lowering the cost barrier through dynamic pricing. Its model marketplace features customized ETF models, mutual fund portfolios and equity-based portfolios reflective of conservative, moderate and aggressive strategies.

To learn more, view the press release here.

3. TIFIN Announces AI-Based Wealth Division Platform For Client Personalization

Moving in real-time

The artificial intelligence-powered fintech provider TIFIN announced a new TIFIN Wealth platform that integrates more than a dozen capabilities for personalizing client engagement, client targeting and providing actionable recommendations to advisory firms. 

TIFIN Wealth utilizes real-time business intelligence to help advisors build holistic client personas based on their behaviors, holdings, vendors and CRM while facilitating execution and ongoing client engagement. The API suite also can connect with a wealth management firm’s other fintech software.

TIFIN’s other division is Magnifi, an online marketplace for financial advisors and self-directed investors, and the company aims to launch a third division called Distill, a digital distribution and insights engine for wealth and investment managers. According to TIFIN’s website, the 15-member team has five offices across the U.S. and India and its strategic partners include Morningstar, J.P. Morgan and Broadridge.

To learn more, view the press release here.

4. Envestnet Enhances Advisor Visibility Into Clients’ Finances

Envestnet, a publicly traded holding company of fintech platforms, rolled out a series of enhancements for advisor-facing software intended to improve visibility into client finances. These include upgrades to its MoneyGuide and Tamarac subsidiaries as well as Envestnet’s wealth solutions and data-and-analytics platforms.

Digital assets

MoneyGuide’s new features encompass an estate planning flowchart, net worth over time, demographics-focused lead generation, debt consolidation and life insurance assessment strategies. Tamarac’s new features entail annuity and credit strategies as well as the addition of digital assets such as crypto into performance reporting.

Envestnet’s other enhancements include fixed income quantitative portfolios, a fund strategist tax management service, and a cloud-based data intelligence solution. The company showcased its enhancements during the Schwab IMPACT 2022 event held from Nov. 1 to Nov. 3 in Denver.

To learn more, view the press release here.

5. SEI Wealth Platform Gains Unified Managed Household Capabilities From LifeYield

SEI struck a deal with LifeYield for the SEI Wealth Platform to upgrade its unified managed household capabilities. As a result, U.K. wealth managers and U.S. private banks and trust companies can utilize a single investment model across various accounts in the same household.

After-tax returns

The partnership also bolsters SEI’s Portfolio Management Experience, which now allows for applying anticipated returns and applicable tax code implications to automate asset location recommendations. SEI’s goal is for advisors to achieve greater tax efficiencies for their clients, along with higher after-tax returns, in accordance with a household’s overall risk appetite and asset allocation.

SEI’s Wealth Platform supports trading and transactions on 123 stock exchanges in 43 countries and 43 currencies. LifeYield provides APIs to assist major financial services firms with automating ongoing asset location, tax harvesting, transitions, withdrawals, multi-account rebalancing and retirement income optimization.

To learn more, view the press release here.

Chris Latham, Deputy Managing Editor at Wealth Solutions Report, can be reached at clatham@wealthsolutionsreport.com

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