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Wealthtech Weekly is a newsletter that keeps you updated on the latest news on wealth management technology including fundraises, M&A, hiring, & more. 

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Wealth Manager Merges with Venture Advisory Services Company (PR Newswire)

Cerity Partners, a leading U.S. wealth management firm, is merging with Touchdown Ventures, a provider of corporate venture advisory services. The merger will establish Cerity Partners Ventures (CPV) and expand offerings into Venture Capital-as-a-Service (VCaaS), enhancing access to external innovation for corporations and private clients. The merger will broaden Cerity’s footprint in key markets like Philadelphia and San Francisco. This partnership aims to combine expertise in venture capital and wealth management to offer comprehensive services while fostering growth and innovation for startups and corporate clients.

Jump Wins Three Wealthies (EIN NewsDesk)

Jump, a leading provider of AI solutions for financial advisors, won three awards at the 2024 Wealth Management Industry Awards, including Technology - Disruptors, Innovation - New Applications, and Advisor Choice - Technology Disruptors. These accolades highlight Jump’s innovation in automating the client-advisor meeting cycle using AI, significantly reducing administrative tasks for advisors. The awards, selected by an independent panel and voted on by advisors, solidify Jump's position as a leader in AI-driven tools for wealth management, improving efficiency and enhancing the client-advisor experience.

Cashmere raises $3.6m Seed Round (Fintech Global)

Cashmere, a WealthTech startup, raised $3.6 million in seed capital, led by Canapi Ventures. The funds will accelerate product development and team expansion, including hiring a Head of Machine Learning. Cashmere’s AI platform automates client acquisition for wealth management firms, aiming to capitalize on the $90 trillion "Great Wealth Transfer" over the next two decades. The platform helps firms efficiently identify and engage high-net-worth clients, addressing long-standing industry challenges. Investors like Benchstrength and Plug and Play also contributed to the round.

Retiring Retirement: Reinventing Financial Planning (Jump Capital)

The traditional retirement model is fading as financial goals have become more flexible and individualized due to longer life expectancies, declining pension plans, and shifting work values. People now prioritize achieving financial independence, paying off debt, and shorter-term goals. However, financial planning remains complex and opaque, with many tools lacking a holistic view of a person’s financial profile. As flexible work rises and goals diversify, there is a growing need for adaptable financial planning solutions that align with modern challenges and client needs.

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Private Market Insights with Blackstone (YouTube)

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