Skience, a leading financial services solution and consulting provider, recently announced an integration with CapitalROCK’s RightBRIDGE Best Interest Validation System. Skience offers consulting services and an award-winning platform that provides wealth management firms and RIAs with an efficient way to unify their technology. CapitalROCK, the makers of RightBRIDGE, provides financial services firms with a powerful and configurable rules engine to determine and document the best interest status of proposed rollovers, account types, and products. RightBRIDGE uses a scoring engine and ReasonText™ that explains why a recommendation fits a client’s needs and the licensing firm’s best interest requirements. By adding this integration, Skience will be able to provide advisors with an easy way to integrate Regulation Best Interest into their workflow process with a click of a button. The data can be used to update Skience records and be leveraged by Skience’s suitability checks as Skience’s client and household data will be prefilled into RightBRIDGE. The announcement comes as Robert Cook, FINRA Chief recently noted that more Reg BI-related enforcement cases are in the pipeline.

Finsum:Financial services platform Skience announced that it will be integrating with CapitalROCK’s RightBRIDGE solution that helps advisors meet Reg BI standards.

During a recent briefing, Blackstone's private wealth management solutions group explained that private equity and other alternatives have been well suited to perform during volatile times when traditional stocks and bonds have fallen. This has been certainly true this year as equities, government bonds, and most corporate debt have fallen as inflation and interest rates rise and recessionary concerns persist. Private markets and hedge fund strategies, on the other hand, have fared much better. However, the firm also believes that affluent investors are still under-allocated in alternative investments. According to the firm, affluent private investors typically only allocate about 5% to alternative investments. Joan Solotar, Global Head of Private Wealth Solutions at Blackstone told journalists at a briefing in London that “Investors remain under-allocated. Many advisors have found that if they hadn’t allocated to alternatives, then they underperformed. Some advisors, such as those working for decades without ever having broached the alternatives space, might lack the confidence to take the plunge.” Her colleague, Rashmi Madan, Head of EMEA for Private Wealth Solutions said the reason for this is due to a combination of burdensome administrative tasks and the difficulties investors have had accessing drawdown funds.

Finsum:Blackstone stated during a recent briefing that alternatives perform well in volatile markets when traditional securities falter, but affluent investors are still under-allocated.

FactSet recently announced the launch of FactSet Model Center, their new no-cost marketplace for wealth advisors to access the industry’s best-of-breed investment solutions within a single, integrated platform. The Model Center will provide advisors with pre-built model portfolios from leading asset managers, product metadata, and detailed marketing materials, including factsheets. Advisors will be able to access model portfolios through the FactSet Model Center application inside the FactSet workstation to perform portfolio analysis, implement models, and create reports for their end clients. Asset managers that will be hosting model portfolios and funds on the FactSet Model Center include BlackRock, Goldman Sachs Asset Management, Janus Henderson Investors, KraneShares, PIMCO, Principal Asset Management, Russell Investments, Simplify ETFs, and VanEck. Wealth advisors will be able to do a deep-level screening to discover models that fit their client’s investment criteria, while asset managers will benefit from scalable model data delivery to tens of thousands of retail wealth advisors.

Finsum:FactSet launched a new no-cost model center where advisors will be able to access model portfolios from leading asset managers.