Ep. 245: June WealthTech News

Come on in, sit back and relax. You’re listening to Episode 245 of the WealthTech Today podcast. I’m your host, Craig Iskowitz, founder of Ezra Group Consulting and this podcast is all about the newest information updates around Wealth Management Technology. This is our June news roundup, We’ve got a lot of stories to cover, so let’s dive right in.

At Ezra Group, we’ve seen tech stacks of hundreds of RIAs and let me tell you, most of them are loaded down with tech debt. So you shouldn’t feel too bad about yours. But let’s face it tech debt is like a giant anchor, holding back your business growth. If you want to free your firm for exponential growth, you should run, not walk to our website EzraGroup.com and fill out the Contact Us form. Our experienced team can evaluate your current tech ecosystem, deliver targeted recommendations, optimize your existing systems and operations or run an RFP and help you implement new software to take your firm to the next level. You can take advantage of our free consultation offer by going to EzraGroup.com.

Topics Covered

  1. AssetMark To Acquire $12B In Assets From Morningstar Wealth TAMP
  2. FactSet Invests $12.5M In Aidentified
  3. AdvisorEngine Deepens Integrations with Charles Schwab
  4. Asset-Map teams up with tax-planning tech firm Holistiplan
  5. AdvisorTech Map & WealthTech Integration Score Updates

Episode Transcript

Come on in, sit back and relax. You’re listening to Episode 245 of the WealthTech Today podcast. I’m your host, Craig Iskowitz, founder of Ezra Group Consulting and this podcast is all about the newest information updates around Wealth Management Technology. This is our June News roundup, We’ve got a lot of stories to cover, so let’s dive right in. I happen to be on the road recording this from Chicago and one of my favorite cities at the Morningstar conference, coincidentally, and our first story is about Morningstar. I’ll do some coverage of the conference later once the conference is finished. It’s a great event I go every year. I highly advise if you are a Morningstar client or even just interested in what Morningstar is doing, it’s in Chicago every year, and this year, it is at the Navy Pier, beautiful location. I posted some pictures on Twitter, and Instagram if you want to check those out. But our first story about Morningstar is Morningstar is selling their TAMP assets to AssetMark. AssetMark to acquire $12 billion in assets from Morningstar Wealth.

1. AssetMark To Acquire $12B In Assets From Morningstar Wealth TAMP

This is from WealthManagement.com, AssetMark is acquiring $12 billion in assets by taking over the Morningstar Wealth turnkey asset management platform (TAMP) the companies announced last Thursday. Morningstar Wealth will join the AssetMark platform as a third party strategist, providing advisors with model portfolios and separately managed accounts managed by Morningstar. After the transaction closes later this year Morningstar Wealth will sunset its US TAMP. Also, according to the article in the months following the deal’s close, Morningstar Wealth’s TAMP clients will have their accounts transferred to AssetMark’s platform. The account migration is expected not to require additional new client paperwork and client performance histories will be maintained, according to WealthManagement.com.

I had been interviewed by a couple of other outlets and I predicted that this would be the case I was asked well, will they be transferring the assets and my answer was, of course. You don’t make this acquisition, tou don’t acquire assets from another vendor and then keep the assets on the other vendors platform just doesn’t work that way. That’s not how you get scale. It’s the how you keep clients happy when you acquire them. They need to move over. So all these assets go over to the AssetMark platform and away from the Morningstar TAMP platform so they can shut it down.

AssetMark founded in 1996, employs over 1000 people and manages $117 billion in TAMP assets, that’s across 9300 advisors according to the company. Morningstar has always been at least since they started their TAMP. Shortly afterwards, they catapulted into the top 10 and they’ve been in the top 10 for a number of years around TAMP. So was a bit of a surprise that they decided to exit the business. But Morningstar is a very well run company and clearly there was a decision made that the TAMP business just wasn’t growing as fast as they wanted it to and they had to either put more money into it or or cut it loose and decided to cut it loose and make a deal, which benefits both parties.

But as I mentioned, Morningstar is very well run company. Their full year 2023 financial highlights include $2 billion in revenue, which is up 9% from 2022. Operating income is good up 37% to $230 million cash the plenty of cash increased 6% to $300 million they’ve cut if you don’t realize how many different businesses, services, licensed based revenue sources, software that Morningstar has just a quick run view. They have of unlicensed base revenue PitchBook which is like a CB Insights, private company data source $130 million in revenue.

Morningstar data managed investment data fund data sold to asset and wealth managers $73 million, Morningstar DVRS which is a credit rating service $60 million, Morningstar direct investment advice, investment data analytics $52 million, their investment management business $32 million there’s the Sustainalytics ESG data $30 million now that does include all their software which they didn’t break everything up but they have Morningstar Advisor workstation. One of the most highly used applications in our industry over 100,000 advisors they claim have a license to Morningstar Advisor workstation 25 million in revenue. They also own ByAllAccounts, which they acquired a long time ago about $23 million if I understand correctly, so that was a steal. And of course the Morningstar Office, which has always done well with advisors in the all in one portfolio management category.

According to T3 they’ve got about 6% market share but according to Kitces, which is only independent advisors, it’s 2.2%. There and then of course the company website Morningstar.com has over 116,000 premium fee paying subscribers. So, company a multifaceted, lots of different revenue sources, great brand name. So why make this deal now, because it just made sense and it’s a win win for both sides. AssetMark gains $12 billion in assets that continue to grow by leaps and bounds and Morningstar now can shut down the TAMP business, reduce those costs. Unfortunately, some people have to get laid off, but that’s just the nature of business and then become more of a pure asset manager. Also a couple people, had commented one was my friend Andy Besheer at RIABiz made a comment that by getting out of the TAMP business, it makes it easier for them to to to do business with other TAMPs, Morningstar, Envetsnet, Orion and other firms that were technically competing with Morningstar now don’t have that competitive nature anymore, so make them more open to distributing Morningstar’s models and SMAs on their platforms.

Morningstar had just launched this RIA bundle technology in 2022, which was combining the TAMP with Morningstar office ByAllAccounts, investment management, and other technologies in a sort of a wallet share, play where they’re going to be cross selling between Morningstar Office clients and other clients and better integrating their TAMP into those technologies, which goes along with how other vendors are looking at the market as well such as Envestnet which has been integrating the TAMP for many, many years. Orion which bought Brinker and FTJ Fundchoice to become a TAMP and has been integrating that as well into their platform. Fidelity Investments has Fmax which off which runs on Envestnet. So that’s their TAMP play and BNY Mellon | Pershing has Pershing Wove which just at the recent INSITE conference announced a TAMP offering powered by Dreyfus. So it made sense for Morningstar to offer this but now they’re backing out of the market. This is one less vendor around.

I posted on LinkedIn when this came out last week that one possible loser in this in this win/win scenario will be SMArtX and SMArtX announced with great fanfare in 2022 they were taking a $30 million investment from Morningstar and then SMArtX was going to become Morningstar’s core back end for their TAMP. And the were displeasing InvestCloud’s APL platform which ran Morningstar’s TAMP since they started it. So they were pulling that out and putting in SMArtX so that was big news at the time. But now that they are selling that business to AssetMark, that $12 billion will mark 99% likely come off of SMArtX and go on to AssetMark’s platform which coincidentally, behind the scenes is run on the APL platform. So all good things go around and come around in this business. You never know how it’s going to work.

So what’s good news for one vendor bad news for another and from what I heard, there wasn’t any issues with SMArtX, SMArtX is great technology. It was just a business decision that the platform just wasn’t growing fast enough strategically compared to the rest of Morningstar as businesses which were doing very well. And there was also a comment in an article about I don’t have the exact article here but the someone from Morningstar mentioned that the cost cutting that they will receive from shutting down the TAMP, will more than make up for the revenue that they’re losing by shutting down the TAMP, which means that the TAMP has been losing money for a while. So that’s sort of a backhanded way to get that information. It’s a trend in the industry that the bigger keep getting bigger and consolidation is the key and scale is the way you make business in the TAMP business.

2. FactSet Invests $12.5M In Aidentified

Next up FactSet invests $12.5 million dollars in Aidentified this article WealthManagement.com, FactSet, a global data and technology provider to the financial services industry has invested $12.5million dollars in the prospecting and relationship intelligence platform Aidentified. Aidentified provides tools to identify, qualify and convert new client relationships and works with financial advisors, marketing teams and other sales professionals across many industry verticals.

According to the firm, more than 80% of their business is in the financial services sector, though they don’t say how much of the business is financial advisors. However, we’ve been seeing a lot of these prospecting firms cropping up lately. As you know, I work on the advisor tech map with Michael Kitces, which you can find on Kitces.com every month and we created a new category a few months ago, under in the Business Development section called Prospecting, because we were just seeing more and more of these companies. I think they were we had had that we had them under digital marketing. And we realized that they were they were less digital marketing and more prospecting. So we created this new category is now eight vendors in the prospecting category, including Aidentified.

There’s also firms that do very similar things as Aidentified. Some of the things that they do is knowing when money in motion opportunities occurring and then being able to connect the advisor with the people who are getting the money. There’s a number of the firm’s calls such as Wealthfeed, Wealthawk, Finny, Cashmere AI, all do similar types of things where they believe they can identify these money in motion events and then connect the advisor with those clients and give them enough contextual information to help them make a connection with the with the clients.

WealthManagement.com first wrote about Aidentified in 2021, and how it uses Aidentified technology to discover and analyze prospective networks by aggregating data on individual and household level career moves, wealth events, think about executive level promotions, publicly filed stock options, etc. wealth scores, household income, personal interests, hundreds of additional data points. The issue I have with these is, not that there’s a problem with doing something like this, but if these companies are delivering better results, and the ones I;ve spoken to have all claimes that they are delivering better results than advisors who are using their technology, closing more deals, bringing on better clients.

We’ve seen in just the passed 6 months this category go from 0 to 8 and I’m sure more vendors will be coming in down the pike. Michael and I get about 10-20 new products every month so I’m sure there’s going to be more of these prospecting tools, is that how many of them can be supported. How long will it be before people who are coming into money are just overwhelmed with AI generated messaging, email from advisors, insurance agents, and other people who are using these AI prospecting tools that just make it so easy to shoot off hundreds or thousands of emails or messages to to feed people, because it doesn’t require any human interaction to figure out who you should be talking to.

I feel anyone who comes in any money gets a stock option award sells their company is just going to get slammed with messages, emails about from every possible category of company lawyers, house sales, car sales, everybody who knows that there’s money around So while these these products seem great now it just seems to me that it’s going to be flooded soon, because it’s so easy to launch these. It doesn’t take a lot of effort to plug in to start saying hey, I want to start pushing out messages to people in these different categories. But FactSet seems to think that they’ve got something in Aidentified.

The company’s machine learning technology has mapped more than 16,000,000,000 1st degree connections and 800,000,000,000 2nd degree connections across 200 million consumers and 100 million professional US data profiles. So that’s quite a lot of data.

Of course, this is machine learning, machine learning is a subset of AI. And what it does is takes in tremendous amounts of data as we just talked about and looks for patterns. So it finds patterns and and starts to learn these patterns mean X these patterns mean Y, this pattern means that there is someone who’s coming into money, and hopefully these these machine learning tools are also seeing how often advisors are closing deals if they can get the loop from beginning to end and see yes, we gave these advisors these leads, and they closed 18% of them or whatever that number happens to be. And here’s the characteristics of those advisors are the characteristics of those prospective clients that matched up here’s where we did a good job matching.

And here’s why did a bad job matching and the machine learning algorithms should learn and constantly be improving their targeting their recommendations. Again, I’m just speculating. I don’t have that specific information about how these products work, but from my computer science background, that’s the way I would imagine from the companies I’m on the boards of that are doing machine learning. Those are the kinds of things we’re trying to do. So I would expect these firms to keep getting better and better and people to keep getting slammed with more and more emails. But of course fax does have a unique data set. Including SEC filings, data on options exercises, supply chain data, M&A ownership data from private companies, so that could further enrich Aidentified matching abilities. As Greg King from FactSet said here in this article, “this is a great opportunity for us to take all of our public and private data analytics and layer it into the relationship data and give real efficiency to financial advisors”.

3. AdvisorEngine Deepens Integrations with Charles Schwab

Moving right along in the news next up is AdvisorEngine deepens integrations with Charles Schwab. So this is from my good friend Joel Bruckenstein at Technology Tools for Today. We have a collaboration between AdvisorEngine and Charles Schwab. AdvisorEngine is a wealth management platform that provides a suite of technology based services that empowers advisory firms to grow and deliver at scale.

AdvisorEngine started out as a digital account opening platform, and over the years has expanded their platform to include CRM they acquired we used to be juncture is now called advisors and CRM nicely integrated to their platform. They’ve got portfolio management, rebalancing, trading, firms reporting, the whole new account opening onboarding, so the whole end to end platform now, and they’ve always worked with Schwab, but now they deepen their integrations with Schwab and that includes end to end account opening.

I started doing some research on this last year, right after last year’s Pershing conference in 2023, because I was getting some weird messages from people about account opening and how difficult it was and what I realized was that there’s no vendors out there that offer end to end account opening at either Schwab or Fidelity. You have to you start the account opening process, in your application, whatever it may be Tamarac, Orion, AdvisorEngine, Black Diamond whatever. And then, when you get to a certain point, the advisor has to switch over to Schwab or Fidelity’s website to complete the account opening. And that seems strange to me. Why why do you have to do that? Why isn’t it always straight through and no one could give me a straight answer.

Of course, nobody wants to rock the boat Schwab and Fidelity hold a lot of weight and power in the industry. And nobody wants to make waves, but still was curious why why we’re doing that and this. This announcement for AdvisorEngine makes them one of the few vendors that can do a complete end to end seamless integrated account opening just through their platform opening up in Schwab without requiring the advisor or the ops team to task switch over to Schwab’s website to finish the account opening.

So, the list of key advantages in this integration custodian conductivity, digital onboarding enhancements, this allows him to complete these tasks inside of AdvisorEngine, including accessing Schwab’s enhanced digital Client Onboarding, a wide range of account types, including trusts, IRAs, rollover IRAs, Roth IRAs, individual joint accounts, and that’s also important, being able to support all account types.

Here’s an interesting thing that I just noticed in this article integration with iRebal so AdvisorEngine now integrates with iRebal, I don’t know anyone else who’s doing that, that allows them to send tax aware household level rebalancing dynamic tax loss harvesting extensive case management, over two iRebal from from AdvisorEngine and the syncing from AdvisorEngine runs in the background and changes that are visible in iRebal. So that’s a pretty interesting connection for clients that are still using iRebal or that you know of course that only runs on Schwab. For Schwab assets, iRebal came over to Schwab from the TD Ameritrade acquisition.

Some other advantages in this partnership include optimized account administration, advisor agents are able to provide efficiency and scale for Client Onboarding, with a single digital envelope that includes all the Schwab forms and advisory firm forms for digital signature via Docusign. And also integration with Schwab’s advisory center. So very interesting. A great news for any RIAs or advisory firms that are have Schwab business and also want the want a seamless end to end experience for account opening. The so we got what I mentioned that what the dimension according to AdvisorEngine, their website advisor is the first company to complete an integration with Schwab’s new with I read out on the Schwab platform so I guess they’ve shot they now call it Schwab iRebal.

So they claim that they’re the first ones to do that. So I see this is pretty big news. I was going through my notes from when I was doing the research last year. And I think this is pretty big deal for for advisor engine to be able to get this capability and when I rebuild that connection, they’re still pretty big player in the industry. According to the Kitces 2023 advisor tech survey. They I would bet has 11% market share just behind Tamarac at 12% So still a lot of independent RIAs are using rebounds so now they have the option to also use AdvisorEngine, good news.

4. Asset-Map teams up with tax-planning tech firm Holistiplan

All right, here we go Asset-Map teams up with tax planning tech firm, Holistiplan. This is from InvestmentNews. Global FinTech provider Asset-Map is helping its US advisors incorporate more tax planning into their client conversations through new integration with host to plan. We love integrations and the integration story it’s going to get play on the news here at Ezra Group. The partnership aims to create a seamless experience that combines asset maps financial planning capabilities with Holistiplan’s tax planning software.

So we like both these applications, Asset-Map for financial planning into visualisations no one else can do they’ve led the way and a lot of firms and all copying them with there’s one page financial plans, RightCapital, eMoney, they’ve all done similar one page plans but they don’t stack up to the depth and breadth of the visualization capabilities of Asset-Map. And these two applications are very complementary Asset-Map and Holistiplan, being tax management tool using natural language processing that can take in a PDF file of a client’s 1040 and then give a report on whole bunch of advice, recommendations, tax recommendations that a CPA would normally provide, but instead the software provides it.

Under this collaboration uses both platforms will benefit from a single sign on which is helpful. Allowing Asset-Map users to directly import client data from Holistiplan. What’s great about this, pulling the data from Holistiplan, you’ve got all that tax information, everything off the 1040 So you’re going to have a lot of data about their holdings. their income, their liabilities, everything you reporting to the IRS is going to be able to suck be sucked into Asset-Map. And that shows you all everything on that one page beautiful plan, rather than having to enter that data. It’ll just suck it in from Holistiplan. It includes taxable income, filing status, marginal tax rates for a given individual or household.

So that’s going to be helpful for advisors save a lot of time when wanting to build the the asset map plan for our clients. So with the updated platform, users also gain the ability to establish a direct link between Asset-Map and the tax analysis results for one or more Holistiplan members. This integration partnership also lets users sync data between the two for records that are linked between both platforms. So that’s cool. So if the client maybe changes their address maybe if they get married, that data should synchronize between Holistiplan and Asset-Map. Sounds pretty cool.

There’s also some cross selling opportunities here between the different user bases of both Asset-Map and Holistiplan. Asset-Map according to the T3 survey has about a 4.3% market share with an excellent satisfaction rating of 7.7. In the Kitces independent RIA survey SMF sits at about 2.2 but also an excellent satisfaction rating of 7.6.

Now of course, Holistiplan is the unparalleled king of market share. In the surveys, they pretty much created the tax management category, they now control 40% of that market according to the Kitces survey, so I think there’s definitely some cross selling opportunities here, but it might be more on the Asset-Map side, moving over to Holistiplan clients and host the but you should get both because there’s there’s definitely benefits for these firms to have these integrations there’s Asset-Map has become so popular with advisors.

There’s even articles is one on FMG’s website called the five best advisors sites that include asset map, and when you go look at that article, it shows you that a number of advisory firms include an asset map picture the advent of a sample asset map, one page visualization on their website, so it’s so powerful that they believe it will help prospective clients who are interested in finding new advisor to come and work with them.

Also, just wrapping up acid map has been nominated as a finalist in four categories of the Wealthies which is the WealthManagement.com Awards, which are going off in September upside on the date check over Wealth Management calm, but congrats to Asset-Map for being nominated in four different Wealthie categories.

5. AdvisorTech Map & WealthTech Integration Score Updates

Here we go. We’re in the homestretch of the news back to my favorite part, it is the updates the advisortech map and the integration scores. As you all know, I partner with Michael Kitces on the advisortech map, which you can find on Kitces.com. And every month Michael and I get together, and we are overwhelmed by the number of new vendors every month that want to get onto the map. And it’s our job to guard the map with our lives and make sure only the best applications get on the map.

Of course, only the applications are actually applications there are some vendors that have software but it’s not software they’re selling. It’s software that is being used to promote other services or other other other things. So it’s not software that advisors would buy, which is a requirement for being on the map and must be software that someone can buy. So there’s a number of vendors that were added this month, six new applications will be on the July advisortech map.

First one up is feathery.io and they are going in the digital onboarding category, they believe that advisors are struggling with collecting high quality data from clients, and they need to reduce NIGOs and does a lot of manual effort. Of course, there’s a number of applications in the digital onboarding space. If you check out the map you will see that we’ve got plenty of applications in digital onboarding.

It’s in the green section under investment management. At the bottom three, you’ll see there’s 10 applications in that category. And there’s just the ones that are only digital onboarding. Of course, many other products and platforms have digital onboarding built in to their platforms. But in the categories of course, we only show the products that are purely delivering those capabilities.

Number two Strad.com is a client portal. They pitch themselves as a virtual family office platform providing secure subscription based, multi professional platform to serve the mass affluent with private family office services. So they combined a CRM, intra office productivity tools, portfolio management, account aggregation, document storage, lots and lots of stuff. So you can check them out Strad.com.

Next up, is Greenboard, like a board game, Greenboard, and they are a compliance tool for communications. So they handle marketing, compliance, communication, compliance, and a lot of different compliance solutions rolled into one they of course claim that they’ve got AI that they’re using to identify compliance risk and help improve compliance, delivery of compliance and reducing errors. So this is this to us as a group here we see compliance as being one of the categories where AI is going to have a great impact very quickly, because a lot of compliance is just evaluating data and cramming through many data points and looking for outliers, which normally is done through manual efforts. Or through human review.

With an AI, they can start highlighting these and least catching 80% of these compliance issues and then narrowing the 20% down they can’t figure out handing it over to a human who has to has to evaluate, but still greatly reduces the workload on the compliance team. If the AI can can do 80% And it’s going to keep getting better. As we were talking earlier about machine learning. These AI tools learn as they go as they get more data, as they’re corrected. Say, Hey, you missed this. This isn’t a compliance issue you need to catch this particular situation. Whether it’s employee compliance, preclearance front running, or other types of issues, the AIs are going to get better and better at catching these whether it’s communications, texting emails, they’re going to get better at this. So you can check out Greenboard at Greenboard.com.

Another application roles in the meeting support category to join the ever growing group of vendors in this category which had almost nobody two years ago. We have 11 products now in client meeting support the new product being added in the July map is called Zeplyn.ai. Now everyone’s dot ai, ai copilot for financial advisors, secure AI for advisor firms to automate advisor workflow boosts client engagement, accelerate organic growth. I know Michael agrees with me in this one.

If you’ve got a product that’s going to do something for me no matter what it is, whether it’s prospecting, meeting support, digital marketing, I don’t care that it’s AI. I just want to know that it does a good job. If your software does a good job, it doesn’t matter. The technology underneath it. The how that works for me. I’m a computer science I’ve got a degree in computer science, I’m interested. But if I’m an advisor, I don’t care. If these .ai and we’re doing AI this AI that that’s such as purely marketing. It doesn’t mean your products any better because it’s got AI in fact, it could be worse.

The next application being added to the map is UpContent up content in the digital marketing category, curate your credibility. Again, more AI powered solutions to tailor content to the unique needs of your organization. Its representatives, its audience. It’s an essential element of marketing UpContent, highest rated content curation software. So these guys do is scour the web, look for content for you. High quality third party content and organize it onto a dashboard that you can then plug into different marketing tools. So why not?

Everyone needs content. And if it’s already out there, why not find it? Of course, with generative AI tools, you can always write it on the fly if you like. But if it’s already out there and it’s already working, well why not repurpose it and use it assuming you can get a license to to use UpContent. So that’s UpContent.com is in the digital marketing category.

And finally, the sixth application that is being added to the Kitces-Ezra Group advisor tech map is called Bright Wave. Good name, easy to spell. BrightWave.io, but it’s a confusing domain name. This is an AI research assistant for financial professionals in the investment data analytics category or another vendor we’ve got AI and we’re using it for investment data analytics and investment data analytics is the most crowded category on the map. There are 47 applications for investment, data analytics. Do we need another one? BrightWave.io thinks that we do.

Whether they will succeed or not. We do not know whether their AI is going to make them better, stronger, faster at delivering investment data analytics we do not know. They claim to be an Award finalist at the Wealth Management industry awards, at the Wealthies. Alright, so they’re doing something right. And they except they received $6 million in seed round in June of this year, which is now this month. Alright, so maybe they’ve got something going here. Check them out at BrightWave.io.

Moving on to the integration scores. You can check out at EzraGroup.com. Anytime you like any of the integration scores, all these applications, it’ll take us I think about two weeks from the time we get them from the map team over at Kitces.com over here EzraGroup.com and then we check out each vendors application and give them an integration score.

So you’ll be able to see the scores at EzraGroup.com going through the what we do tab and click on wealthtech integration scores. You can look at the scores by category or by individual vendor. And if you are an application vendor provider in our space, and you have a score of six or above call as a group, use the Contact Us form and tells you want to get into the wealthtech integration score recognition program. What this program allows you to do is you are able to use a badge on your website that says as your group integration score excellent or integration score superior depending on what score you get, that can be used in any marketing capabilities or any emails or social media, political Oh no hazard group has validated our integrations and we are great.

You also get access to some stuff that no one else has. We having a quarterly private webinars from the integration Group team, you also get some private meetings with the team to help understand how the integration scores are working, and how you can improve your score, what specifically, areas you should focus on what you should be building, what integration you should build, or what other capabilities you could build, to improve your score, as well as some discounts on Ezra consulting. So if you are a wall tech firm, you’re looking for competitive analysis, pricing analysis, go to market strategies, being in the recognition program will get you a discount on consulting.

And we’re also building a vendor portal. Soon another another month or two will launch that press release that on our website, that vendors can log on to the portal and update their own integration data, which will then automatically update the score. And that’ll be a much more distributed capability for everyone involved.

Alright, that’s the end you’ve hit the the the end of the as the wealthtech integration score and of the news for Ezra Group. But before you go, please head over to our website EzraGroup.com and scroll to the bottom of the homepage and sign up for our newsletter. Once a month you receive an email chock full of wealth management, goodness, news, information updates, you will not be disappointed. Thanks again for listening and talk to you all again next time.

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The Wealth Tech Today blog is published by Craig Iskowitz, founder and CEO of Ezra Group, a boutique consulting firm that caters to banks, broker-dealers, RIA’s, asset managers and the leading vendors in the surrounding #fintech space. He can be reached at craig@ezragroupllc.com

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