Displaying items by tag: software

Turnkey asset management platform and fintech provider GeoWealth has signed a deal to buy First Ascent Asset Management, a Denver-based registered investment advisor overseeing nearly $1.4 billion. Colin Falls, President, and CEO of GeoWealth, told FundFire that the deal is expected to close early in the second quarter. First Ascent, which also provides TAMP services, specializes in providing investment management and consulting services to independent advisors. The firm also provides non-discretionary model portfolios to technology platform providers. First Ascent will move to the GeoWealth platform and have access to its proprietary integrated tech stack, including back-office capabilities and customizable unified managed account offerings. GeoWealth’s platform includes advisor-managed models alongside a suite of third-party-manager-built models from about 40 providers, according to Falls. The firm also offers ETF model portfolios created by third-party ETF sponsors, including J.P. Morgan Asset Management. According to a news release, First Ascent’s investment offering and service model will remain unchanged, as will its flat-fee schedule. The firm charges a flat fee rate or percentage of assets under management, and annual fees range from .15% to .30% for accounts with at least $50,000.

Finsum:Managed-model providerGeoWealth is buying First Ascent Asset Management, an RIA that also provides TAMP services such as model portfolios.

According to research reported in the latest edition of Cerulli Edge, the demand for financial planning increases with market volatility. Cerulli said that investors experiencing market volatility for the first time are more open to receiving advisor guidance. The report noted that eighteen percent of investors working with an advisor do not have a financial plan in place, but they do consider one important. In light of that figure, Cerulli recommends that advisors consider re-introducing their financial planning services, especially during periods of high market volatility, since some clients may not be aware of their planning offerings. The research noted that advisors who offer financial planning find that their clients are better positioned to stay the course and remain calm when market performance declines, which enables advisors to develop stronger client relationships. Scott Smith, Director of Advice Relationships at Cerulli Associates, said the following, “Financial planning shifts the focus to progress made toward achieving goals rather than investment performance. This frames volatility in the context of a bigger picture, which helps clients feel prepared when market shocks arise.”

Finsum:Based on a new Cerulli research report, clients are better positioned to stay the course during market volatility if their advisors offer financial planning.

As investors grapple with inflation and economic uncertainty, there is one industry that has been outperforming the market, and that’s cybersecurity. While most technology companies have cautioned investors about slower corporate spending, cybersecurity firms are still seeing massive demand. For instance, CrowdStrike and SentinelOne, both recently increased their forecasts for this year. While cybersecurity has always been important, companies are now even more concerned about system vulnerabilities due to an increase in cyber-attacks amidst the war in Ukraine. In addition, the advent of remote and hybrid working arrangements has also increased the demand for cybersecurity solutions. While companies can trim spending on software items such as CRM, cybersecurity is too important to risk. The minute a company lets up, they are at risk of a ransomware attack. This has resulted in the Global X Cybersecurity ETF (BUG) outperforming the NASDAQ this year.

Finsum:While other software companies are seeing slowing demand, the sheer necessity of cybersecurity has resulted incybersecurity ETFs outperforming the NASDAQ this year.

The cloud has been the latest computing craze financial firms have been chasing but it was mobile control that just got the latest expansion in portfolio management software. Enfusion Inc. is a leading provider of cloud based financial software and they are pushing through several new alterations to their mobile platforms. Mobile users will have personalized reports and real-time access to their market exposures. Additionally, they will have a variety of compliance management features including monitoring and overriding exceptions. Finally, a variety of managed services like secure document sharing and profit and loss statements optimized for mobile platforms will be available.

FINSUM: Companies with an advantage in cloud computing will make the quickest transition to mobile products because of the large data they can provide at the snap of their fingers.

The appetite for on-demand experiences has grown. In 2020, the global on-demand market...See More