Quorus has successfully closed a $5,000,000 seed funding round led by WisdomTree, with major participation from Connecticut Innovators and Nassau Financial Group, to accelerate the growth of its investment infrastructure. The company specializes in providing active asset managers with the tools necessary to build and manage custom, tax-efficient portfolios at scale. By automating the complexities of tax-loss harvesting and personalized portfolio construction, Quorus enables managers to provide a level of service that was previously difficult to execute for smaller accounts. The platform serves as a critical bridge for wealth management firms and asset managers who aim to differentiate their offerings in an increasingly competitive market. It addresses the growing demand for personalized investment solutions by allowing firms to transition away from generic models toward tailored strategies. This infrastructure is particularly relevant for advisors and integrators looking to enhance their value proposition through sophisticated tax optimization and direct indexing capabilities without increasing operational overhead. This expansion is a clear indicator of the Family Office as-a-Service trend, where technology is used to democratize high-end financial services. By providing the tools for tax-managed infrastructure, Quorus allows advisors to offer their clients the same level of attention and efficiency typically found in a private family office. This shift matters to the WealthTech industry as it underscores the move toward holistic, technology-driven advice that focuses on the center of a client's financial life. https://www.prnewswire.com/news-releases/quorus-raises-5-million-in-a-seed-round-to-scale-custom-tax-managed-portfolio-infrastructure-for-active-asset-managers-302713587.html

iCapital has entered into a definitive agreement to acquire Hexure, a provider of digital sales automation solutions for the insurance and wealth management sectors. This acquisition is designed to create an end-to-end technology platform that integrates annuities and insurance products directly with iCapital’s existing alternatives and structured investments infrastructure. By combining Hexure’s e-application and illustration tools with iCapital’s compliance and education resources, the firm aims to provide a single operating system for the entire investment lifecycle. The transaction highlights the ongoing surge in Alts 2 Wealth initiatives, where technology is used to reduce the traditional friction associated with non-traditional assets. As institutional demand for alternative investments reaches a plateau, asset managers are increasingly looking toward the wealth management channel for new capital. This integrated platform allows financial advisors and distributors to access complex strategies through insurance-based structures, facilitating better retirement income and tax efficiency for their clients. Lawrence Calcano, Chairman and CEO of iCapital, noted that the acquisition deepens the company’s technology capabilities and expands its reach within the insurance ecosystem. Hexure, backed by THL Partners, will have its FireLight and ForeSight technologies integrated into the broader iCapital suite to support carriers and advisors at scale. Specific financial terms of the deal were not disclosed. MMNote: This hits 2 themes squarely, so I can get behind this investment thesis. 1. Peak 65 is happening right now! Annuity products are key for advice through retirement. 2. Alternatives are the hottest topic right now. Specifically, many private placement annuities allow you to take a decent amount of your gains tax free. Easing the friction will be transformational for investors. Press Release Here

German-based Upvest has secured $125 million in new financing to accelerate the modernization of legacy banking and investment systems across Europe and the UK. The funding consists of a $90 million equity round alongside a $35 million debt facility. This capital injection follows a year of rapid scaling in which the company processed more than 100 million investment orders for a growing roster of over 30 institutional clients. The firm provides a modular, API-first investment infrastructure that allows banks, brokers, and wealth managers to offer retail investment products without building complex in-house systems. Its platform handles the heavy lifting of trading, custody, and back-office operations, enabling financial institutions to launch or migrate investment offerings in months rather than years. Current partners using these rails include major digital and traditional players such as Revolut, N26, and Santander’s Openbank. The fresh capital will be used to expand Upvest’s presence in Europe’s largest markets and integrate complex local tax and pension wrappers like the Altersvorsorgedepot in Germany and SIPPs in the UK. By absorbing these regulatory complexities into its API, Upvest helps providers scale personalized and tax-efficient wealth solutions for a new generation of investors. The company is also rolling out AI-supported investment engines to empower institutions to build autonomous and hyper-personalized advisory services at scale. Knote: The transaction reportedly values Upvest at around $740 million, although that may be thrown off a little by the straight debt component, depending on how they are treating that. Still over a 75% gain from their last round a little over a year ago. Retirement savings in Europe is getting modernized with a rise in technology demand for SIPPs (IRAs) and Altersvorsorgedepot (scary-sounding IRAs). JP Morgan also recently purchased WealthOS to advance the SIPP market. Link to Article

Business Wire. (2026, March 16). Abra, a Digital Asset Wealth Management Platform, to Become a Public Company via Business Combination With New Providence Acquisition Corp. III. Business Wire. https://www.businesswire.com/news/home/20260316571081/en/Abra-a-Digital-Asset-Wealth-Management-Platform-to-Become-a-Public-Company-via-Business-Combination-With-New-Providence-Acquisition-Corp.-III Abra has entered into a definitive business combination agreement with New Providence Acquisition Corp. III to transition into a publicly traded entity. The combined company will be renamed Abra Financial, Inc. and is expected to list on the Nasdaq under the ticker symbol ABRX. The transaction is based on a pre-money equity value for Abra of $750 million. Existing Abra equity holders, including prominent firms like Pantera Capital and Blockchain Capital, will roll 100% of their interests into the new company. The merger is expected to provide up to $300 million in cash held in trust to fund future growth and platform scaling. Abra operates as an SEC-registered investment advisor offering custody, trading, yield strategies, and lending services for digital assets. Management has set a strategic target to exceed $10 billion in assets under management by the end of 2027.

Envestnet. (2026, March 16). Envestnet Integrates Interval Funds Directly into its Unified Managed Account Platform. Envestnet Newsroom. https://newsroom.envestnet.com/2026-03-16-Envestnet-Integrates-Interval-Funds-Directly-into-its-Unified-Managed-Account-Platform Envestnet has integrated interval funds directly into its Unified Managed Account platform to streamline access to alternative investments. This enhancement allows financial advisors to incorporate private market strategies into client portfolios with the same ease as traditional assets. The platform update automates the subscription and redemption processes, effectively removing significant operational barriers for advisors. Centralizing these alternative assets within the UMA framework provides improved transparency and consolidated reporting for investors. This initiative aims to democratize institutional-grade investment strategies by making them more accessible to a broader range of retail clients. Advisors can now manage the entire lifecycle of an interval fund investment through a single, unified digital interface. Knote: Interval funds seem to be the gateway drug for alternatives these days and a safe way for Envestnet to dip its toe in the water. AssetMark is doing the same. There is some tech lift involved, for example incorporating the redemption window, but otherwise fits neatly into existing architecture.

Wealth Solutions Report. (2026, March 16). Jiffyai launches ai advisor companion. https://www.wealthsolutionsreport.com/jiffyai-launches-ai-advisor-companion/ JIFFYAI introduced its AI Advisor Companion at the T3 Technology Conference to streamline wealth management workflows. The tool is designed to enhance advisor productivity by automating client interactions and providing data-backed insights. Functional capabilities include automated meeting preparation, scheduling, follow-ups, and compliance-ready documentation. The companion integrates seamlessly with various CRMs, custodians, and financial planning systems to centralize advisor data. Built on an enterprise AI platform, the solution supports the entire client lifecycle from initial onboarding to ongoing servicing. Knote: The competition in the AI advisor assistant space continues to heat up. They are rapidly evolving and adding functionality. We have renamed this sub-sector from "Workflow Support" to "Notetaker" to "Meeting Management" and now "AI Advisor Assistant" all within the last 9 months.

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. Link to Blog Post – WealthTech Strategy Partners     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. Link to Blog Post – WealthTech Strategy Partners     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. Link to Blog Post – WealthTech Strategy Partners     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. Link to Blog Post – WealthTech Strategy Partners     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. Link to Blog Post – WealthTech Strategy Partners     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. Link to Blog Post – WealthTech Strategy Partners     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. Link to Blog Post – WealthTech Strategy Partners

AdvisorEngine Portfolio Solutions re-imagines TAMP experience to deliver a fully-connected practice platform https://www.advisorengine.com/newsroom/advisorengine-portfolio-solutions-tamp-experience-announced AdvisorEngine Portfolio Solutions (AEPS) launched a new turnkey asset management program (TAMP) unified within its existing wealth management technology platform. The platform aims to eliminate traditional TAMP constraints by allowing advisors to maintain individual investment approaches rather than forcing them into standardized templates. AEPS provides a model marketplace featuring over 1,500 investment strategies from more than 300 different asset management firms. High-net-worth clients are supported through access to alternative investments, direct indexing, and advanced Unified Managed Account (UMA) capabilities. The solution emphasizes tax-smart investing through automated tax-loss harvesting, lot-level tracking, and customizable transition rules for onboarding assets. Native integration within the AdvisorEngine ecosystem automates digital onboarding, fee billing, trading, and performance reporting to reduce operational complexity. The unified architecture enables RIA firms to scale their businesses while preserving the ability to personalize the client experience. 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.

Business Wire. (2026, March 10). WealthStream Launches Advice Intelligence Platform to Develop and Retain the Next Generation of Advisors. Business Wire. https://www.businesswire.com/news/home/20260310156197/en/WealthStream-Launches-Advice-Intelligence-Platform-to-Develop-and-Retain-the-Next-Generation-of-Advisors WealthStream debuted its AI-native advice intelligence platform at the T3 Technology Conference to standardize expert-level planning across advisory firms. The platform acts as a digital planning team, giving all advisors access to senior-level capabilities to improve advice consistency and quality. Specialist AI agents within the system analyze client data to identify dependencies and complexity drivers that often require years of experience to master. Designed as an advice intelligence layer, the software integrates with existing technology stacks rather than replacing current advisor tools. WealthStream is currently executing a controlled rollout with select partners and plans for general availability in the second quarter of 2026. 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.

Lee, J. (2026, March 10). U.S. Bank's RIA Arm Launches Service for Mass Affluent Clients. Financial Advisor IQ. https://www.financialadvisoriq.com/c/5111054/720384/bank_launches_service_mass_affluent_clients U.S. Bancorp Advisors is launching a new suite of wealth management services specifically designed for mass affluent investors with minimum investment of $25,000. The initiative aims to bridge the gap between the bank's retail banking services and its high-net-worth private wealth management tier. These offerings are delivered through the bank's Registered Investment Advisor arm to provide specialized financial planning. The strategy focuses on capturing a larger share of the emerging wealth market by lowering entry barriers for professional advice. This launch reflects a broader trend among major financial institutions to scale their wealth management capabilities for mid-tier clients. U.S. Bank intends to leverage its existing retail footprint to transition bank customers into managed wealth relationships. On the heels of PNC's launch of mass affluent services with $100,000 minimum. 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.

McDougall, M. (2026, March 7). The AI pension advisers are already here. The Financial Times. A growing number of UK individuals are utilizing generative artificial intelligence platforms to assist with their personal pension planning and investment strategies. "A study of 5,000 Britons conducted by Lloyds Banking Group late last year concluded that more than half of adults were using AI platforms for financial advice." The Financial Conduct Authority has warned investors about AI "hallucinations," which are instances where chatbots present incorrect financial information with a misleading level of confidence. Wealth managers caution that current AI models lack the deep reasoning capabilities required to fully replace human financial advisers and struggle to interpret complex, region-specific tax laws and detailed legislative nuances. A recent assessment of popular AI platforms by the consumer research group Which? revealed that Perplexity and Gemini provided the most accurate personal finance answers, whereas Meta's tool was the least effective. To remain competitive and ensure regulatory compliance, established financial institutions are actively developing their own proprietary AI tools designed to provide personalized, heavily vetted investment guidance. Despite the inherent risks, many users find AI chatbots highly valuable for validating existing retirement plans, exploring financial scenarios without sales pressure, and preparing informed questions prior to meeting with traditional wealth managers. 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.

OneVest. (2026, March 5). OneVest and Merit Financial Advisors forge strategic partnership to fuel next-gen growth and advisor innovation. Newswire.ca . https://www.newswire.ca/news-releases/onevest-and-merit-financial-advisors-forge-strategic-partnership-to-fuel-next-gen-growth-and-advisor-innovation-875209734.html OneVest and Merit Financial Advisors announced a strategic partnership to facilitate Merit's goal of attracting and acquiring 15 advisory firms in 2026. The collaboration focuses on delivering an enterprise-resilient, unified operating model with an agile technological architecture designed to eliminate the manual labor burdens that often impact legacy wealth management firms. This partnership aims to streamline the onboarding of new teams through a unified workflow that reduces fragmentation during mergers and acquisitions. The platform merges complex multi-custodial, performance, and financial planning data into a single cohesive interface to improve client engagement. This alliance highlights the importance of technology in executing RIA rollup strategies. 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.