Latest news with #WealthTech
Finextra
a day ago
- Business
- Finextra
Sidekick and PlannerPal win Pimfa WealthTech AI tech sprint
PIMFA WealthTech, the market network and technology platform created with principal strategic partner Morningstar, a leading provider of independent investment insights, recently set a challenge to the fintech industry and asked, 'how can wealth management and financial advice firms leverage AI to enhance operational efficiency by optimising end-to-end processing across front, middle, and back-office functions?' 0 This tech sprint challenged numerous fintech providers to demonstrate how their technology utilises AI solutions to solve issues such as: • Accelerating onboarding and enhancing KYC checks by automating identity verification, document processing, and leveraging AI for real-time customer verification, fraud detection, and regulatory compliance • Improving periodic suitability reviews through automation and enhanced accuracy in compliance checks • Personalising client reporting by using AI to tailor communications, generate customised reports, and provide insights based on client preferences • Innovating software development by using AI to automate the entire software development cycle Following a competitive process, Sidekick and PlannerPal were selected as winners of the tech sprint by the PIMFA WealthTech Advisory Council. Sidekick are a next generation digital wealth manager that offers products designed to help clients optimise their wealth-building opportunities and tax efficiency through their smart cash management in one intuitive, easy-to-use platform. PlannerPal are an AI solution is designed to help financial planners and advisers save time, deepen client relationships and grow their practice through their note taker that captures and summarises key insights from meetings ensuring that Consumer Duty needs are met and that vulnerable clients are identified. The AI tool also generates documentation such as annual reviews and suitability reports, tailored to the firm's needs and integrates with their CRM to ensure client records stay accurate and current for effective compliance. PIMFA Plus partner TIKKER, alongside Money Means, were also recognised at the Morningstar Investment Conference for their contribution to this space and their role in driving forward innovation. Richard Adler, Chief Commercial Officer at PIMFA and Director of PIMFA Wealthtech, said: 'PIMFA WealthTech exists to address digital business transformation through the development and adoption of market-leading technologies. Our objective is to drive innovation and enhance collaboration between Fintechs and wealth management and advice firms - and this tech sprint is a prime example of this in action. AI is set to be one of the most important and seismic changes to impact our industry and society more widely. It's potential to automate tasks, process vast amounts of data, drive innovation and address complex challenges, ultimately improving efficiency and productivity, cannot be under played. Many firms are still reviewing their approaches to AI and investigating how it can be integrated into their operations. Tech sprints such as this are an invaluable way of highlighting the fantastic array of solutions now available to support our vital industry and their clients. I'd like to thank all the firms that participated in this important tech sprint, and offer congratulations to Sidekick and PlannerPal for winning the challenge and demonstrating their solutions so skilfully.'
Associated Press
27-05-2025
- Business
- Associated Press
WealthTech Strategy Partners Taps Industry Veteran Scott MacKillop to Provide Strategic Advice to TAMPs
BOSTON, MA, UNITED STATES, May 27, 2025 / / -- WealthTech Strategy Partners, the only investment bank solely focused on WealthTech advisory, has announced the addition of Scott MacKillop as a Senior Advisor to bolster its TAMP strategic advisory business. With over 45 years of experience in the financial services industry, MacKillop brings a wealth of strategic insight and leadership to support the firm's continued growth and client success. Throughout his distinguished career, MacKillop has led and advised numerous prominent asset management and fiduciary service firms. He was the Founder and CEO of First Ascent Asset Management, a pioneer in flat-fee investment management that he sold to GeoWealth in 2023. He has also been the President of Frontier Asset Management, US Fiduciary Services, Trivium Consulting, Portfolio Management Consultants (PMC), and ADAM Investment Services. 'Scott is perfectly positioned to help lead our efforts to build out the TAMP portion of our advisory business,' remarked Kendrick Wakeman, CEO and Co-Founder of WealthTech Strategy Partners. 'I am confident that his knowledge, leadership, experience, and vision as a six-time TAMP innovator is going to be a huge benefit for our clients and the wealth management industry as a whole.' In addition to his executive leadership, MacKillop serves on the Board of Directors for the Institute for the Fiduciary Standard, reflecting his long-standing advocacy for investor protection and best practices in advisory services. MacKillop began his career as a lawyer in Washington, D.C., practicing from 1976 to 1991. He holds a law degree from George Washington University Law School and an undergraduate degree from Stanford University. 'Over the last 30 years, I have had the pleasure and honor of helping to move the TAMP industry forward in whatever ways I could,' said MacKillop. 'With the industry changing at a record pace, I am delighted to be part of the WealthTech Strategy team helping to keep the industry moving forward in the future.' For more information about WealthTech Strategy Partners, visit: Kendrick Wakeman WealthTech Strategy Partners email us here Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Finextra
07-05-2025
- Business
- Finextra
German WealthTech Fincite merges with France's Harvest
Two of Europe's leading WealthTech software providers are coming together: Fincite from Germany and Harvest from France have formed a strategic alliance. 0 The partnership is backed by private equity investors TA Associates and Montagu. Under the umbrella of the Harvest Group, both companies plan strategic acquisitions to build the European WealthTech Software champion. Unifying WealthTech pioneers by Creating a pan-European leader Fincite and Harvest develop wealth management software that empowers financial institutions to reinvent their services. Their modular B2B software automates the creation of efficient, tailored portfolios - covering the entire value chain from onboarding (KYC/AML) to reporting. Ralf Heim, fincite Founder & Co-CEO © Fincite "Today, banks struggle with fragmented and often outdated software systems. We are talking about legacy solutions that are 25 years old or more. This results in a complex and costly IT landscape with limited interoperability. Clients are looking for fewer but stronger partners who can provide deeper and more advanced WealthTech solutions from a single source. Together with Harvest, we are fulfilling this need on a European scale," says Ralf Heim, Co-CEO and Founder of Fincite. Management teams of Fincite and Harvest (from left to right): Quentin Michon, Harvest CFO; Virginie Fauvel, Harvest CEO; Sebastian Bessing, fincite CTO; Ralf Heim, fincite Founder & Co-CEO, Delphine Asseraf Harvest Deputy CEO; Co-CEO; Paul Kammerer, fincite CCO & Friedhelm Schmitt, fincite Founder & Co-CEO European expansion and strategic acquisitions This partnership sets the stage for accelerated European expansion with a clear goal: to double the group's revenue within the next four years. Growth will focus on the core markets of the DACH region and France, as well as the Benelux countries, Italy, and Northern Europe. By joining forces, Harvest and Fincite will pursue strategic acquisitions to expand their product portfolio, geographical footprint and better serve their target audience. Virginie Fauvel, Harvest CEO © Harvest "We are seeing an ongoing wave of modernization in financial institutions. Banks must offer a seamless digital experience, similar to what has become standard in retail banking. The market demands modular and tailored solutions that integrate effortlessly," adds Virginie Fauvel, CEO of Harvest. "Together with Fincite, we are unlocking synergies and elevating wealth management to a whole new level. This merger represents a major new step for the creation of a solid European group, resolutely focused on development, innovation and customer satisfaction - and it marks the beginning of something truly significant." Harvest, the 36-year-old Paris-based FinTech, serves more than 4,600 clients. Both brands - Harvest and Fincite - will remain on the market together with their teams and locations. As part of the merger, Fincite co-founder Ralf Heim will join the Group's board in addition to his role as co-CEO of Fincite. Together with his two co-founders, Friedhelm A. Schmitt and Stefan Post, and the fourth Managing Director, Paul Kammerer (COO), he will continue to manage the business.
