Displaying items by tag: wealth management

Direct indexing will now become available to teens and young adults after the gig economy platform PettyGigs and financial API Atomic announced a partnership. PettyGigs is a two-sided platform that connects young adults with local businesses and busy professionals. Teens can perform small tasks to earn money in their free time. Atomic provides fintech companies the ability to integrate wealth management and trading into their products. This includes capabilities such as conscious investing, direct indexing, and tax-loss harvesting. Through the new partnership, users of PettyGigs, also known as "Giggers," can allocate their earnings from each Gig into a fully diversified curated portfolio with benefits including direct indexing, tax-loss harvesting, and ESG investing. The portfolio has no account minimums. The partnership will also introduce socially responsible investing to young investors.

Finsum:A recently announced partnership between Atomic and PettyGigs makes direct indexing and ESG investing available to teens and young adults.

Firms have quickly ramped up the incentives to recruit and retain financial advisor talent, but those efforts are even stronger for women and minority groups. Merrill Lynch chair of Diversity and Inclusion said the “war for talent is alive and well” and they are trying hard to hire women and people of color in their ranks. No firm is outright saying they are paying women more money in advisor roles, rumors are trickling out that women are seeing higher salaries in order to be attractive to firms. There has been a huge increase in press events and speeches pairing ‘women’ and ‘wealth management’ from major brokerages. UBS, Edward Jones, and Merril Lynch have set high bars for their target percentage of their advisors are women or people of color.

Finsum: Women are an extremely valuable part of financial firms and efforts to attract and retain them will only intensify. 

A slew of new technological advancements are coming to Financial services and portfolio management software in 2022. The biggest changes will be modernizing networks, edge computing, and decentralized infrastructure like Web3. This means a lot of financial technology will begin moving to the cloud. In addition, actual payment transactions will take place on the technological device and not through a central network, which improves efficiency and processing speed. This doesn’t come at a big cost either as it’s a more robust and safer technology for payments solutions. Finally, in a decentralized financial industry, anyone can turn their personal capital into collateral and extract yield others can borrow from eliminating financial middlemen.

Finsum: These are wild changes in decentralized finance but undoubtedly a couple of years off, however cloud computing is a game-changer for portfolio management software.

The kind of support a Registered Investment Advisor ("RIA") receives is based on their personal and professional goals. Whether you want to pursue independence as an owner, an affiliate, or a teammate, Schwab can help you through the transition and support you throughout the life of your business ... [Read More]

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