WealthTech Safari Mar 13, 2026
- 7 hours ago
- 4 min read
Your guided tour of the interesting events in WealthTech for the week.
Robinhood's $658 million private markets fund for retail investors goes public
Robinhood Markets has listed its flagship venture fund on the NYSE, allowing non-accredited retail investors to trade shares of pre-IPO technology companies like Databricks and Stripe.
The move demonstrates a significant shift in democratizing institutional-grade alternative investments through mass-market distribution and a traditional closed-end fund structure.
Knote: On paper, this is a fine idea. But I don't think a closed-end fund structure is the best way to trade illiquid securities and I'm not a huge fan of the way this was marketed. Still, it shows the power of mass distribution encountering demand for alternatives, for good or evil, as $650 million is not a shabby figure to raise on light analysis and market chaos. However, it is possible that at least some of those purchases were based on the trust of the Robinhood brand, which may be on probation at the moment since the investment declined 16% on the first day. Granted, there were market forces at play, but they may need to wait a bit for their next effort.
Fidelity® Q4 2025 Retirement Analysis: Average Annual 401(k) Account Balances Increase by Double Digits for Third Year in a Row
Average 401(k) balances reached a record $146,400 at the end of 2025, driven by steady savings rates and double-digit annual growth across multiple account types.
The surge in million-dollar retirement accounts and high Gen Z engagement highlights a massive opportunity for advisors to capture the accelerating rollover market.
Knote: With more people turning 65 in the US this year than ever has done, growth-minded advisors should triple-down on the 401k rollover market or Fidelity will have all the fun.
OneVest and Merit Financial Advisors Forge Strategic Partnership to Fuel Next-Gen Growth and Advisor Innovation
OneVest and Merit Financial Advisors have partnered to create a unified operating model designed to streamline the acquisition and onboarding of 15 advisory firms in 2026.
This alliance underscores the critical role of agile technological architecture in executing successful RIA rollup strategies by eliminating manual labor and data fragmentation.
Knote: One look at Farther and even the least imaginative realize that technology is a big factor in the growth of RIA rollup platforms. This is just Merit being smart and intentional around its growth goals this year after doubling assets last year.
The AI pension advisers are already here
A significant portion of UK adults are now using generative AI platforms for financial advice, prompting warnings from regulators regarding data accuracy and "hallucinations."
While AI offers accessible scenario planning, wealth managers emphasize that current models lack the deep reasoning and tax-specific nuances required for full advisory replacement.
Knote: At least we know that the AI scare is hitting the UK as well. I will point out that, in the article, they cite a study by "Which?" where they "Put leading AI platforms to the test on personal finance." Perplexity was ranked the highest for "accuracy" but they only scored 73%. I'm not sure what that score is exactly, but if it means 27% of what you get back is not accurate, I would consider that a problem. ChatGPT, the most popular platform for financial advice according to the FT, had an accuracy rating of 65%. I hope I am misinterpreting that stat and look forward to being corrected.
U.S. Bank's RIA Arm Launches Service for Mass Affluent Clients
U.S. Bancorp Advisors is launching a wealth management suite with a $25,000 minimum to transition retail banking customers into managed investment relationships.
This initiative reflects a broader industry trend of major banks scaling professional advice to mid-tier clients to capture emerging wealth and build long-term loyalty.
Knote: If you want to capture Millennials, self-directed trading seems like a good way to go. Trading, investing, and banking all in one app can be an attractive package for folks who like to control their financial lives (and all other aspects of their lives) through one app. If you capture them now, you have a chance to keep them later. That's how Schwab got started.
WealthStream Launches Advice Intelligence Platform to Develop and Retain the Next Generation of Advisors
WealthStream debuted an AI-native advice intelligence platform at T3 designed to standardize expert-level planning and provide advisors with digital paraplanner capabilities.
By integrating specialist AI agents into existing tech stacks, the platform aims to supplement emerging advisor expertise and ensure consistent quality across organizations.
Knote: WealthStream is taking the approach of partnering with the advisor vs replacing. As we (hopefully) bring new advisors into the ecosystem to replace retiring advisors, having a dedicated digital paraplanner can go a long way to supplementing emerging expertise and standardizing quality of care across an organization.
AdvisorEngine Portfolio Solutions re-imagines TAMP experience to deliver a fully-connected practice platform
AdvisorEngine Portfolio Solutions has launched a unified TAMP that integrates a marketplace of 1,500 strategies directly into its wealth management technology ecosystem.
The platform enables RIAs to scale through automated onboarding and tax-smart investing while allowing them to maintain personalized investment approaches for high-net-worth clients.
Knote: This is just plain smart. TAMPs are a great business about to get even better when they become the gatekeepers for alternatives distribution into the wealth channel. And, if Orion is anything of an indication, advisors appreciate having their models tightly integrated into their advisorOS.