Apex Fintech Solutions intends to strengthen its RIA Custody and Execution Platform with digital advice tools that will be added as a result of Apex’s acquisition of AdvisorArch, a portfolio management and rebalancer provider, officials say. Apex will not be disclosing the financial details of the acquisition, which is expected to be final on April… Read More >>
OCIE Warns Private Funds Against Conflicts, Hidden Fees
A recent Risk Alert issued by the SEC’s Office of Compliance Inspections and Examinations (OCIE) has found “deficiencies” and possible conflicts of interest in the actions of private equity and hedge fund advisors that might have “caused investors in private funds … to pay more in fees and expenses than they should have or resulted… Read More >>
Advisors Intrigued by Active, Opaque ETFs: Survey
A growing number of financial advisors have expressed interest in a variation of exchange-traded funds (ETFs) that are actively managed and nontransparent in that these instruments allow fund managers to disclose holdings on a quarterly basis, but keep holdings more confidential than typically transparent ETFs, according to Broadridge Financial Solutions, which based its findings on… Read More >>
LPL Financial Buys AdvisoryWorld for $28 Million
LPL Financial LLC, the broker-dealer and retail investment advisor (RIA), is acquiring IT provider AdvisoryWorld for $28 million in an effort to speed up LPL’s push to offer capabilities that support the digital evolution of advisors and boost their efficiency. LPL officials say that the transaction closed on Dec. 3, 2018, and that the firm… Read More >>
‘Advisors using Morningstar Office Can Quantify Client Risk Tolerance’
Riskalyze, a risk analytics vendor, and investment research provider, Morningstar, report that they have integrated their wares so that “up-to-date account data from Morningstar Office” can be fed into Riskalyze software on a nightly basis. Advisors that have Riskalyze, maker of Risk Number, and Morningstar Office can access their Morningstar Office client information from within… Read More >>
Institute for Financial Advisors Launches
The Institute for Innovation Development, which describes itself as the “only innovation-focused business development organization for financial advisors,” has launched. It was built, according to its statement, to “support two key elite groups – growth-oriented financial advisors and financial industry executives – who share three common goals: ongoing dynamic growth, competitive differentiation, and unique community… Read More >>
