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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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AI set to revolutionize wealth management operations - survey (Finextra)

Artificial intelligence is transforming the wealth management sector, with 90% of investors believing AI can effectively aid in researching financial products. A survey by the London Stock Exchange Group and ThoughtLab reveals that 62% of wealth management firms expect AI to revolutionize operations by improving automation, speed, and cost-efficiency. However, trust in human advisors remains essential, with a hybrid model combining AI and human expertise likely to dominate. Investors value AI for research and portfolio management but also seek trusted advice and personalized support from advisors.

SS&C launches AI-driven data service for wealth managers (AlternativesWatch)

SS&C Technologies has launched SS&C Accord, a brand focused on automating the aggregation and validation of alternative investment data for wealth management firms. Leveraging AI, robotics process automation, and SS&C's existing expertise, Accord simplifies data collection, processing, and reporting for RIAs. By using technologies like natural language processing, it integrates alternative investment data across platforms such as SS&C’s Black Diamond. Firms like Choreo are using Accord to provide clients with a comprehensive view of both traditional and private investments, streamlining reporting and decision-making processes.

Perigon Wealth Adds Execs With Eye to M&A(WealthManagement)

Perigon Wealth Management, a $8.2 billion firm, has appointed three new executives as part of a growth strategy focused on mergers and acquisitions (M&A). David Scarpello, previously at Pathstone, has joined as Chief Financial Officer (CFO), replacing Chuck Pinson-Rose, who will remain as managing director of finance and investments. Perigon also hired Brian McGunnigle as director of operations and Debra Dunham as director of transitions and integrations. CEO Arthur Ambarik, who joined Perigon in 2013, has led the firm’s growth from $150 million to over $8 billion in assets. Backed by Constellation Wealth Capital, Perigon is planning five to seven acquisitions this year, building both organically and inorganically to create a sustainable national firm.

Wilde Wealth Management Group launches W Family Office in Scottsdale (City Sun Times)

Wilde Wealth Management Group, managing over $3.6 billion in assets, has launched W Family Office, a new division providing comprehensive wealth management, estate planning, tax, and insurance services for high-net-worth clients under one flat fee. The family office will operate from Wilde’s Scottsdale headquarters and be led by Drew Kliber, who manages over $400 million in assets and brings nearly 30 years of industry experience. The launch is part of Wilde Wealth’s ongoing growth, which includes new offices, a recently launched insurance division, and expanded leadership. Kliber will work closely with CEO Trevor Wilde to grow the firm and serve clients with complex financial needs.

Mercer Advisors Builds Presence in North Carolina and Philly With New Deals (401k Specialist Mag)

Mercer Advisors announced the acquisition of two RIAs this week: Kades & Cheifetz LLC in Pennsylvania, managing $440 million in assets, and Kiely Wealth Advisory Group (KWAG) in North Carolina, with $523 million in assets. The acquisitions are part of Mercer’s strategy to expand its wealth management offerings and presence in key regions. Kades & Cheifetz, with a focus on affluent families, chose Mercer to enhance client services through its family office model. KWAG, led by Joe Kiely, joined Mercer for its shared fiduciary approach and expanded capabilities in estate, tax, and insurance planning. Both firms align with Mercer’s commitment to client-first financial planning.

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