OneVest

The wealth management industry is undergoing a fundamental transformation. The ‘Great Wealth Transfer’ is underway, with $84 trillion expected to change hands via inheritance over the next two decades as baby boomers transition and more than 70 percent of recipients expected to change advisors. In addition, tectonic shifts are underway on both the consumer and advisor sides of the wealth relationship. The long underserved mass affluent segment with ~$21TN in AUM presents a large untapped opportunity. Consumer preferences are shifting toward a digital-first, self-service-style approach to wealth management that still involves a human in the loop. We believe that the future of financial advice is tech-enabled, personalized and on-demand where users have access to low-cost platforms that help them get the specific answers they need whenever they want. At the same time, the average financial advisor is nearing retirement age, and many are seeking to leave wirehouses in pursuit of higher payouts, greater autonomy, and access to improved technology and services. Large language models (LLMs) have advanced to a point where they can automate a significant portion of financial advisors' middle- and back-office tasks. This will enable advisors to work with an increasing number of clients than they currently do by leveraging AI-powered tools, thereby creating more opportunities for the mass affluent to seek advice. We’re excited to continue supporting the next wave of innovators shaping the future of financial empowerment. In this report, we share our point of view on the ongoing trends we are seeing and investment opportunities. This report is the first installment in a multi-part series where we delve into various facets of the wealthtech industry. We’d love to hear from you if you’re building in this space, have any thoughts or want to compare notes! You can reach me at shruti@qedinvestors.com or my colleague Laura Bock at laura@qedinvestors.com. Link to report - https://lnkd.in/g93KvwUK

Robinhood Acquires TradePMR To Refer Next-Gen HNW Clients To On-Platform RIAs (And More Of The Latest In Financial #AdvisorTech – December 2024): https://bit.ly/4g84leZ And more interesting technology announcements: -All-in-one platform Advyzon has announced the upcoming launch of Auria, a family office platform targeted at advisors of ultra-high-net-worth clients -Paid lead generation service SmartAsset has announced the launch of two new prospecting tools, further expanding on its recent rollout of solutions that help advisors with nurturing and marketing to the leads it provides -Zeplyn, an AI-powered meeting note tool, has raised $3 million in seed capital as it seeks to differentiate itself as the "most accurate" AI note taking solution rather than on the breadth of different functions it can perform And new companies added to our "Financial AdvisorTech Solutions Map": -Oyster Consulting, LLC (Compliance) -401GO (401(k) Implementation) -Vantagepoint AI, LLC (Investment Data/Analytics) -Wavvest (Client Portal) -OneVest (Portfolio Management) -Mili (Client Meeting Support)