The Word on WealthTech for August 2023

Aug 03, 2023 | Doug Fritz | Wealth Management

Welcome to the Word on WealthTech. Each month we offer our take on a few recent industry news stories, identifying what they could mean for advisors across the industry. As we wrap up summer, here are the WealthTech headlines we are talking about around the watercooler in August 2023:

SMArtX Advisory Solutions announced a new, slimmed down version of its platform that it is calling SMArtY, will be coming this fall. The managed account platform will be free and is geared toward advisors who want to use models but don’t have access to SMArtX UMA technology. For us, the most interesting part of this news is the impact it has on competitors. Quite possibly, it is just the first of many lower platform fees. We are eager to see who moves next. Will companies like Smartleaf follow suit?

Recent

Advent of Change

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Legitimizing Your Firm

October 18, 2023

Remember the Saturday Night Live skit with Chris Farley and “the van down by the river?” Well, recently, we had a client come to us that made us think of that, because they wanted us to help legitimize their firm so they didn’t look like they worked out of a van down by the river.…

Is Every Commercial Office Property in Trouble?

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Midway through 2023, media coverage of the challenges many commercial office real estate owners are confronting has reached a feverish level. One may wonder if the sector’s current low vacancy rates and refinancing requirements will ultimately bring down our entire economy. We think not...

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Blackstone Is the First Alternative Asset Manager to Hit $1 Trillion AUM. So Where Does It Go From Here?

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In July, Blackstone BX reported that it had surpassed $1 trillion in total assets under management during the second quarter of 2023, being the first alternative asset manager to cross that threshold. A bit of background to start: “Alternative asset management” is an umbrella term for asset managers that specialize in private market investment strategies like private…

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