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WealthStack Roundup: GeoWealth, Pontera, American Century, Marstone

Turnkey asset management platform GeoWealth announced it has launched an integration with Pontera, which will allow advisors to manage 401(k)s, 403(b)s, HSAs, variable annuities and other types of retirement accounts from within the TAMP.

In addition to trading, rebalancing and other management-related aspects, the integration enables advisors to bring data from held away accounts into GeoWealth’s performance reporting and billing applications.

GeoWealth, which now has $8 billion in assets under management and works with approximately 1,000 RIA firms, raised $19 million in Series B funding in November 2021 led by Kayne Partners Fund, as well as a follow-on investment from JP Morgan Asset Management.

Earlier this year, the TAMP announced a strategic partnership with 55ip to integrate that firm’s advanced tax management and tax-loss harvesting capabilities into the platform.

Founded in 2010, GeoWealth has had focus on the small-to-midsize RIA market, working with advisors just starting out up to firms with $2 billion in AUM.

Pontera, for its part, has already experienced an eventful 2022 thus far. Previously known as FeeX, the firm underwent a pivot from a direct-to-consumer play known mainly for its automated 401(k) rollover technology into an enterprise offering as Pontera. The firm also announced it had raised $80 million led by Lightspeed Venture, with other participants including The Founders Kitchen, Hanaco Ventures, Hyperwise Ventures and Blumberg Capital.

Among Pontera’s user base are advisors at Carson Group, SageView Advisory Group, Priority Financial Group, Dynamic Advisor Solutions and CoastalOne and others.

Previously this year, Pontera announced integrations with SS&C’s Advent Custodial Data Network (which provides integration to the Black Diamond platform, as well as Axys, APX and Geneva), while in 2021 the firm integrated with Orion, Advyzon, Morningstar Office and others.

American Century Partners with Marstone

Another big asset management firm is getting into the digital wealth management game. American Century Investments will be making the digital wealth management platform of third-party provider Marstone available to its retail investor clients, according to an announcement.

As part of the new commercial relationship, Marstone will provide client onboarding that includes customizable investor assessment tools and a risk tolerance questionnaire, a personalized client dashboard, money movement capabilities, trading and rebalancing for the new digital advice accounts, as well as goals-based financial planning.

The move “marks the start of a new, digital-first business line for American Century, opening its portfolios to a broader client base due to lower initial investment amounts” according to the announcement.

Two former competitors to Marstone have been acquired in recent years. Asset manager Franklin Templeton bought AdvisorEngine and Goldman Sachs purchases Folio Financial, with both deals occurring in May 2020 for undisclosed amounts.

American Century currently has $230 billion in assets under advisement around the globe.

Advisor360° Beneficiaries update

Advisors eyeing the great wealth transfer know that estate planning and developing relationships with client beneficiaries are going to be key to keeping assets under management in the future.

Advisor360º, the software-as-a-service (SaaS) platform for broker-dealers and independent advisors that spun out of Commonwealth Financial Network as an independent business in April 2019, announced an enhancement to its existing Beneficiaries capability.

With the update, financial advisors are now able to see and report on, in a single view, their clients’ beneficiaries on insurance products, in addition to their custody and investment accounts.

The update is meant to assist advisors in guiding clients through monitoring or making any necessary changes for their intended heirs and beneficiaries across all investment products, including insurance and annuities.

In March, Charles River Development announced a strategic partnership with Advisor360° to integrate their wealth management platforms for enterprise wealth management firms. Charles River has an end-to-end managed accounts platform that includes advanced SMA/UMA capabilities (as well as outsourced middle-office services through State Street, its parent company).

Currently, MassMutual and its 7,500 advisors represent Advisor360°’s single largest enterprise user but with the continued improvements and partnerships, the company is clearly pursuing other hybrid independent broker-dealers in need of a more modern platform.

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