San Diego-based wealthtech solutions provider AlphaTrAI announced its rebranding as Praxis Solutions and a shift in its value proposition. The firm derived its new name from Greek philosophy. According to the press release, the word “praxis” is “often simply defined as the process of thinking, making and doing.”
With the rebranding, the firm aims to provide a unified client experience that will draw on the skills of technology operations specialists, algorithm builders and business process experts.
Bill Dwyer, who continues as CEO of Praxis, said, “Our company was born of the merger of vertical expertise and the application of advanced, customized technology solutions. Over the past two years, we’ve reorganized, built and brought on board additional resources to deliver a high-quality, all-inclusive framework that helps stakeholders identify areas of opportunity, develop tech-enabled programs and implement them.”
Dwyer added, “This allows our clients to operate more efficiently and effectively within an increasingly competitive environment. Praxis delivers the technologies and the critical application and support of those tools that enable asset and wealth managers to support their unique business needs.”
“The past 30 years in technology were all about mass production, and the next 30 years will focus on mass customization.”
– Henrik Christensen
Distinguished Professor of Computer Science at the Department of Science and Engineering at UCSD, Henrik Christensen, who is also a board member at Praxis, said, “The past 30 years in technology were all about mass production, and the next 30 years will focus on mass customization. Praxis’s engineering and industry leaders have been deeply involved in these trends over the past three decades and position our team to take full advantage of this next wave to benefit the wealth and asset management industries.”
The Praxis rebranding follows its August acquisition of Anchor Advisory Services, a scheduling, sales management and consulting solutions provider for financial services. In April, the firm hired John Sweeney as President. The firm also expanded its leadership team and board, broadened its core competencies and eliminated unnecessary business lines in preparation for its rebranding and repositioning.
Janeesa Hollingshead, Contributing Editor at Wealth Solutions Report, can be reached at editor@wealthsolutionsreport.com.
