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“This is an exciting time in the B2B space because you’re seeing a lot of legacy institutions with complex architecture struggling with digitizing their capabilities,” Trout says. “So you’re seeing the emergence of dedicated B2B platforms like Trizic, RobustWealth and InvestCloud that aren’t necessarily wealth advisors but are providing the digital tech for financial institutions to offer digital advice.”
Apex Clearing is expanding its digital custody and clearing brand into the human adviser market though a new partnership with Trizic, a technology vendor that develops digital advice products for advisers. Trizic, which counts FIS and John Hancock among its customers, says the partnership will make it faster for RIAs, broker-dealers and other enterprise firms to bring a customized robo-advice solution to market.
Canter ties the drops shown by his firm’s study to RIAs creating segmented strategies that may reflect a rising use of automation. “The study found that 41% of RIAs are considering or already using a digital solution; 33% are looking to implement a digital solution in the next 18 months.” Fidelity’s definition of “digital” was broad and used companies as diverse as Envestnet Inc., Trizic,…