BlackRock Strengthens Aladdin Platform's Trading Capabilities: Tech Roundup

By doing away with high account minimums, Altruist also enables advisors to serve clients regardless of their current level of wealth, it noted.

TradePMR Streamlines RIA Digital Account Transfers

TradePMR is simplifying the transition of client accounts to its Fusion platform with the launch of an enhanced digital account transfer tool for breakaway brokers and existing RIAs, the tech and custodial services provider said on Wednesday.

The new tool enables advisors to transfer and open hundreds of accounts in minutes, it said.

Citing data from a recent research report from Cerulli Associates, TradePMR said 77% of advisors who have recently changed custodians noted they faced operational challenges, including opening new accounts and dealing with account transfers as a top concern.

To start the account uploading process with the new TradePMR tool, advisors populate the tool with their clients' account information via a data exchange with the advisor's CRM, "minimizing the potential for human errors that often occur when moving large amounts of data," it explained.

Advisors then team up with a TradePMR transition consultant to audit and identify any missing forms or information required to open a new account, it said. "This enables the advisor to go back to their customers with specific requests, rather than asking them to complete forms with the information they have already provided throughout their relationship," the company explained.

The new tool is just the latest enhancement to the Fusion platform designed to simplify the client onboarding process. The company previously rolled out a paperless digital account opening tool that allows RIAs already working with TradePMR to open a new account or household by pre-populating client information or partially completed forms with reserved account numbers directly from Fusion.

CircleBlack Teams With StratiFi

Fintech firm CircleBlack has joined forces with StratiFi, the developer of PRISM Rating technology, to enable advisors using the CircleBlack wealth management platform to build better portfolios and cultivate stronger client relationships by integrating StratiFi's risk analytics into their investment solutions.

"The integration will allow advisors to better educate their clients about market realities, communicate risk ranges across accounts and adjust risk exposure efficiently," the firms said in a joint announcement on Wednesday.

Advisors using the CircleBlack platform will benefit from StratiFi's integration with account data that is automatically synced between the two platforms, adjustments to StratiFi parameters embedded in the CircleBlack experience, and key risk metrics that are highlighted on household pages, the companies said.

CircleBlack's recommendation engine will, meanwhile, proactively alert advisors upon login if any accounts have passed risk ranges and might need attention. StratiFi's risk evaluation functionality allows it to aggregate risk across accounts and households more efficiently and improve overall portfolio oversight and supervision, the companies said.

CircleBlack is also working to add popular applications for compliance, automated marketing, automated billing and payments, and investment portfolio building services that enable advisors to review client statements to identify problem areas of previous advisors.