T3 Conference 2024: Unveiling Innovations and Updates in Financial Technology
Las Vegas played host to the Technology Tools for Today (T3) conference in early 2024, marking its 20th anniversary as a prominent event in the independent wealth management industry. Financial advisors, industry experts, and technology providers gathered to explore the latest advancements and innovations shaping the financial technology landscape.
T3 Conference Highlights
1. Keynote Speakers and Participants:
A lineup of renowned speakers and participants graced the T3 conference, including:
– Josh Brown, Co-Founder and CEO of Ritholtz Wealth Management
– Natalie Wolfsen, Chief Marketing Officer of Orion Advisor Solutions
– Kunal Kapoor, President and CEO of Morningstar
– Abby Salameh, Chief Operating Officer of CAIS
2. Focus on Advisor-Focused Innovation:
As with previous T3 conferences, the 2024 event showcased a wide spectrum of advisor-focused technology innovations. These included software tools, platforms, applications, and emerging technologies such as artificial intelligence (AI) and machine learning.
3. Technology Announcements and Updates:
Several technology firms and providers took the opportunity to announce significant developments and updates during the conference. Here’s a summary of some key announcements:
a. Alphathena:
– Alphathena, a provider of an AI-powered direct indexing platform for RIAs, secured a $4 million investment led by ETFS Capital.
– The investment aims to enhance the firm’s technology, enabling advisors to build personalized strategies for clients leveraging direct indexing and tax-loss harvesting.
b. Amplify:
– Amplify updated its unified managed account (UMA) trading capability, allowing users to queue trades for uniform execution at a later time.
– This update provides greater flexibility for global and precision portfolio updates while adhering to fiduciary requirements for uniform execution across client accounts.
c. BlackRock:
– BlackRock announced the launch of Aladdin Wealth, a cloud-based wealth management platform designed to provide advisors with data and analytics tools for portfolio construction, risk management, and client reporting.
– The platform integrates with other BlackRock solutions and third-party applications, enabling advisors to streamline their workflows and enhance client experiences.
d. CAIS:
– CAIS introduced CAIS IQ, an AI-driven platform that uses natural language processing (NLP) to analyze client data and provide personalized insights and recommendations to advisors.
– The platform aims to improve advisor productivity and help them deliver tailored advice and solutions to their clients.
e. Charles Schwab:
– Charles Schwab announced the expansion of its Schwab Advisor Center, a digital platform that provides advisors with access to research, tools, and resources to support their practices.
– The platform includes new features such as enhanced portfolio analytics, client engagement tools, and integration with third-party applications.
f. Envestnet:
– Envestnet unveiled Envestnet | Yodlee, a cloud-based data aggregation and analytics platform that enables advisors to collect and analyze client financial data from various sources.
– The platform provides a comprehensive view of client assets and liabilities, helping advisors make informed investment decisions and provide holistic financial planning advice.
g. Fidelity Investments:
– Fidelity Investments announced the launch of Fidelity Wealthscape, a cloud-based wealth management platform that offers a suite of tools and services for advisors.
– The platform includes portfolio management, trading, performance reporting, and client relationship management capabilities, all integrated into a single, user-friendly interface.
h. Morningstar:
– Morningstar introduced Morningstar Office, a cloud-based practice management platform designed to help advisors manage their businesses more efficiently.
– The platform includes features such as client relationship management, document management, and marketing tools, all integrated with Morningstar’s investment research and analytics.
Conclusion
The 2024 T3 conference provided a glimpse into the latest innovations and trends shaping the financial technology landscape. With a focus on advisor-focused innovation, the conference showcased a range of technology tools, platforms, and applications that aim to enhance advisor productivity, improve client experiences, and deliver personalized financial advice. As technology continues to play a vital role in the wealth management industry, events like T3 serve as a valuable platform for industry players to connect, learn, and explore the future of financial technology.