The WSR Wealth Exemplar Awards Practice Management Solutions Provider of the Year goes to the top four practice management platforms either in-house within a wealth management firm or delivered via a third-party consultancy or solutions provider, with offerings that may include, among other areas, business consulting, succession planning, advisor marketing/client prospecting or advisor-facing technologies and digital solutions.
Atria Wealth Solutions
Atria Wealth Solutions is a holding company that operates several subsidiaries providing brokerage and advisory services. These include CUSO Financial Services (CFS), Sorrento Pacific Financial (SPF), Cadaret Grant, NEXT Financial Group, Western International Securities, SCF Securities and Grove Point Financial, which it acquired in September. After completing the Grove Point acquisition, Atria serves almost 2,700 professionals with close to $120 billion in AUA. It serves independent advisors across affiliations models, from fee-based to dually registered to hybrid to turnkey setups.
Atria’s practice management solutions span helping advisory practices with a customized strategic vision, marketing and branding, staffing and business models, technology-enabled practice efficiencies, and succession and business transitions. Atria also provides one-on-one coaching with seasoned financial services experts, practice valuation assistance, conferences and workshops. Last year, CFS and SPF formed 16 new partnerships and renewed 16 partnerships with banks and credit unions with a combined asset base of $240 billion across nearly 15 million financial institution members and clients.
CapIntel is a fintech solutions provider for financial services wholesalers, advisors and wealth management firms. The company supports approximately 12,000 advisor and 800 wholesaler clients, managing assets worth $2 trillion. Its platform aims to help financial professionals deliver transparent, data-driven and personalized information to their clients. CapIntel recently released the results of a study that explores the role of technology in elevating advisor capabilities and enhancing investor experiences.
In September, CapIntel launched the fully digital wealth management platform OMNI. The platform delivers a 360-degree view of client investments with the goals of helping advisors make informed decisions, enhancing the overall client experience and transforming the way advisors do business. CapIntel also has proposal building features that enable financial advisors and their RIAs to create investment presentations in accordance with elements of the Securities and Exchange Commission’s Marketing Rule.
F2 Strategy provides a proprietary Outsourced Chief Technology Officer (OCTO) model for the wealth management space. The customizable technology implementation solution provides C-level oversight and management for small to midsize organizations looking to innovate within their firm. Its OCTO model aims to implement the changes necessary to build a firm up for success, with a consultant then deeply ingrained in the client firm.
F2 Strategy serves a total of 62 clients and had $2.5 trillion in assets serviced as of June 2023.
Its headcount increased by 80 last year, from 25 to 105 people. This growth was largely due to the June acquisition of Oakbrook Solutions, which amplified client access to research and strengthened its expertise in wealth management and bank trust verticals. Last summer, F2 Strategy also received a majority investment from private equity firm Renovus Capital, to lay the foundation for F2 Strategy’s goal to accelerate growth and expand its service offerings.
FMG, a SaaS company specializing in all-in-one marketing software and services for the wealth management industry, serves more than 40,000 financial advisors and insurance agents. It provides websites, email and social media tools, multimedia content and more, with the goal of making it easy for users to build their brands, stay in touch with clients and grow their businesses. FMG has relationships with the leading independent broker-dealer networks and integrations with several widely used wealthtech platforms.
Last year, FMG customer websites received more than 70 million views, customers sent over 308 million emails, 59% of which were automated, and customers shared a total of 2.2 million social media posts. In 2023, FMG launched its “one-click” AI personalization enhancement for social media, the integration of compliant texting capabilities through the acquisition of MyRepChat, and a redesign of its Premium website build to offer greater creative flexibility and a hands-on partnership with FMG’s designers.
Chris Latham, Managing Editor at Wealth Solutions Report, can be reached at firstname.lastname@example.org