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Pello Companies has entered into a definitive agreement to acquire ByAllAccounts from Morningstar. The transaction is expected to close in the first half of 2026, subject to customary conditions. While specific financial terms were not disclosed, Morningstar previously acquired the business for $28 million USD in 2014. Upon completion of the deal, ByAllAccounts will operate as a standalone company led by incoming chief executive officer Cynthia Rojas Sejas. ByAllAccounts provides critical data aggregation technology that serves as the foundation for various wealth management applications. Its infrastructure supports portfolio management, reporting, compliance, and tax aware investing for financial professionals. Pello Companies, a firm specializing in open finance innovation, plans to focus capital on accelerating the development of the platform. The new ownership aims to expand access to new data sources and further strengthen the reliability of the underlying technology. The acquisition marks a strategic shift for Morningstar as it focuses its advisor products on proprietary data and investment research. Morningstar will remain a committed customer of ByAllAccounts and will continue to offer the service as an integrated capability within its existing product suite. This move provides ByAllAccounts with the independence and focused investment needed to power the digital transformation of the wealth management ecosystem while remaining a key utility for advisors and platforms. Knote: Pello Companies is B2-grade stealth. Nobody seems to know who owns it, runs it, or funds it. A little strange given that they are presumably going to be asking people for their financial login information. I'm sure we will get more details shortly. Link to Source

WEALTHTECH SAFARI A Guided Tour of WealthTech News Week of April 7, 2026   FMG’s new CEO wants AI to solve what advisors couldn’t automate before •      FMG, a leading marketing platform for financial advisors, is charting a new course under CEO Dave Christensen, who aims to leverage artificial intelligence to tackle workflow challenges that were previously unsolvable—opening the platform’s ecosystem to new tool categories and supporting advisors with early-stage prospecting. •      The move signals that advisor-facing marketing platforms are evolving from content distribution engines into full-stack practice management hubs, with AI as the connective tissue between prospecting, engagement, and conversion. Knote: The advisor marketing space has been a content factory for years—same drip campaigns, same compliance-approved templates. Christensen seems to understand that the real unlock isn’t better content; it’s using AI to connect the dots between who an advisor should talk to, what they should say, and when. If FMG can pull that off, they’re not competing with Snappy Kraken anymore—they’re competing with the CRM. Read More →   InvestSuite launches StoryTeller to turn portfolio reports into AI-narrated conversations •      InvestSuite, a Belgian-born WealthTech firm, has launched StoryTeller in the U.S. market—a tool that transforms static portfolio performance reports into dynamic, AI-generated narratives designed to make client reviews more engaging and accessible. •      Performance reporting has long been one of the most expensive yet least differentiated parts of the advisor tech stack; an AI layer that converts data into plain-language dialogue could meaningfully reduce the time advisors spend prepping for review meetings. Knote: Quarterly performance reports are the tofu of wealth management: everybody produces them, nobody gets excited about them. StoryTeller is betting that the format—not the data—is the problem. If clients actually read these things for once, that’s a moat worth defending. Read More →   CRED revamps Kuvera, doubling down on India’s wealth-tech opportunity •      Indian fintech giant CRED has overhauled its Kuvera wealth management platform with a simplified “do less but better” investing philosophy, aiming to deepen its presence in the rapidly growing Indian wealth management sector. •      The redesign reflects a broader trend among Indian consumer fintechs to move upmarket from payments and credit into wealth management—a segment where India’s expanding affluent class and digital-first habits create a massive addressable market. Knote: India’s WealthTech story keeps accelerating. CRED already has the trust layer from its credit card bill payments franchise and a user base that skews affluent. Kuvera gives them a natural on ramp to wealth. The “do less” philosophy is smart positioning in a market where analysis paralysis kills conversion. Read More →   Private placement BDCs met 74% of redemption requests in Q1 •      Private placement business development companies fulfilled $1.2 billion in redemption requests during the first quarter of 2026, satisfying 74% of total investor demand, according to a Robert A. Stanger & Company analysis of 19 private placement BDCs. •      The data provides a rare liquidity transparency window into the semi-liquid alternatives space and suggests that BDC structures are managing redemption pressure more effectively than some other alternative vehicle types facing similar headwinds. Knote: Seventy-four percent isn’t perfect, but in the world of semi-liquid alts, it’s a passing grade. The real story is that we’re finally getting standardized redemption data for these vehicles—something the industry desperately needs as advisors are asked to put more client capital into products with gates and queues. Read More →   FinTech Global releases WealthTech 100 for 2026 •      FinTech Global has published its annual WEALTHTECH100 list, identifying the world’s most innovative companies across wealth management, asset management, private banking, and financial advisory for 2026. •      A dominant theme among the profiled companies is the integration of artificial intelligence to automate workflows, generate predictive analytics, and deliver personalized client advice at scale—confirming AI’s transition from novelty to infrastructure in the sector. Knote: These lists are always a mix of genuine innovators and well-funded marketing departments, but they’re a useful barometer of where the narrative is heading. This year’s message is unmistakable: if you’re a WealthTech company without an AI story, you’re already behind. Read More →   Global wealthtech market projected to hit $23.8 billion by 2032 •      The global WealthTech solutions market is projected to reach USD 23.81 billion by 2032, nearly tripling from a 2025 valuation of USD 8.64 billion, according to a new analysis from Maximize Market Research. •      The forecast underscores the structural growth trajectory of the sector, driven by digital transformation of advisory services, rising demand for automated portfolio management, and the proliferation of AI-powered tools across the wealth value chain. Knote: Take the exact number with a grain of salt—market sizing in WealthTech depends heavily on where you draw the boundaries—but the direction is right. A near-tripling in seven years matches what we’re seeing on the ground: every RIA, every bank, every insurance company is buying or building wealthtech. The TAM conversation has shifted from “is this a real market?” to “who captures the most value?” Read More →   Farther launches multi-family office for ultra-high-net-worth clients •      Farther, the technology-forward RIA platform, has launched a dedicated multi-family office offering designed to provide specialized wealth management services for ultra-high-net-worth families, integrating the firm’s proprietary technology throughout the client experience. •      The launch marks an ambitious upmarket expansion for Farther and tests whether a tech-native advisory firm can credibly compete with established MFOs that have traditionally relied on relationship depth and bespoke service models rather than platform leverage. Knote: This is a bold move. Multi-family offices live and die on trust, relationships, and white-glove service—not exactly the domain where tech-first firms have historically excelled. But Farther’s bet is that the next generation of UHNW families wants the sophistication without the stuffiness. If they can blend their tech stack with genuinely differentiated advice, this could redefine what “family office” means. Read More →

Business Wire. (2026, April 9). Farther Launches Multi-Family Office, Setting a New Standard for Generational Wealth Management. Morningstar. https://www.morningstar.com/news/business-wire/20260409681670/farther-launches-multi-family-office-setting-a-new-standard-for-generational-wealth-management Farther has officially launched a dedicated multi-family office to provide specialized wealth management services for ultra-high-net-worth families. The new offering integrates the firm’s proprietary technology platform with bespoke advisory solutions to manage complex financial structures. The multi-family office focuses on generational wealth transfer, estate planning, and sophisticated tax optimization strategies. Families gain access to real-time reporting and visibility across diverse and illiquid asset classes through a centralized digital interface. This expansion is designed to bridge the gap between traditional family office services and modern, tech-enabled wealth management. Farther’s approach incorporates philanthropic planning and family governance to ensure the long-term preservation of family legacies. The launch follows a period of significant institutional growth and increasing demand for integrated, high-touch financial services. Knote: It's not exactly in our Family Office as-a-Service theme, but close. And if we know Farther, they are going to make extensive use of technology to create at least a semi-scaled product for the advisor.

Maximize Market Research. (2026, April 9). WealthTech Solutions Market Size to Surpass USD 23.81 Billion by 2032, Shows New Maximize Market Research Analysis. EIN Presswire. https://www.einpresswire.com/article/904711024/wealthtech-solutions-market-size-to-surpass-usd-23-81-billion-by-2032-shows-new-maximize-market-research-analysis The global WealthTech solutions market is projected to reach USD 23.81 billion by 2032, expanding from a 2025 valuation of USD 8.64 billion. The industry is expected to maintain a compound annual growth rate of 15.58% throughout the forecast period from 2026 to 2032. Asia-Pacific dominates the sector with a global market share exceeding 37%, largely fueled by digital transformation initiatives in India. Cloud deployment solutions currently command a significant 68% share of the market, facilitating scalable infrastructure for emerging financial startups. Retail investors have emerged as the primary growth driver, accounting for 55% of the market as they adopt automated retirement and investment applications. The robo-advisory service segment is experiencing the most rapid expansion, growing at a rate of 22% as digital assistants gain traction with users. Future market development is characterized by the integration of AI and blockchain technologies to offer hyper-personalized financial planning for high-net-worth individuals. Knote: There are not a lot of industries planning on growing top line 15-16% per year for the next 5 years, let alone the 22% growth rate for digital advice, which is considered somewhat dormant in the US but virtually exploding in India.

FinTech Global. (2026). WEALTHTECH100. FinTech Global. WealthTech 100 Report The WEALTHTECH100 is an annual list compiled by industry experts identifying the world's most innovative companies in wealth and asset management, private banking, and financial advisory. A prominent trend across the profiled companies is the integration of artificial intelligence to automate workflows, generate predictive analytics, and provide personalized client advice at scale. Many firms are focusing on resolving data fragmentation by building unified, cloud-native infrastructure that connects legacy banking systems with modern portfolio management tools. Technology solutions are increasingly adapting to support complex, multi-asset portfolios by bridging the analytical and reporting gaps between public securities and alternative or private market investments. Regulatory compliance and risk management remain central to WealthTech innovation, with platforms embedding automated surveillance, suitability checks, and audit trails directly into advisor workflows. Companies are also modernizing niche sectors like philanthropic planning and retirement accounts by offering digital-first, white-labeled platforms that integrate directly into the broader wealth management ecosystem. The overall objective of these technologies is to reduce operational costs and manual errors while empowering financial advisors to deliver more holistic, data-driven, and engaging client experiences. Knote: It's always nice to see this every year from our friends at Fintech Global. Congratulations to all the winners!

Misonzhnik, E. (2026, April 9). Private Placement BDCs Meet 74% of Redemption Requests. Wealth Management. https://www.wealthmanagement.com/alternative-investments/private-placement-bdcs-met-three-fourths-of-redemption-requests-in-first-quarter Private placement business development companies (BDCs) fulfilled $1.2 billion in redemption requests during the first quarter of 2026, satisfying 74% of total investor demand. A report from Robert A. Stanger & Company analyzed 19 private placement BDCs representing $27.5 billion in aggregate net asset value (NAV). Data indicates that 15 of the surveyed funds met all redemption requests, while five funds implemented proration to manage withdrawal volumes. Investor withdrawal activity spiked late in 2025 due to concerns regarding loan portfolio health and overall market liquidity. Redemption demand reached a record high of 4.6% in late 2025, which is nearly triple the historical long-term average of 1.6%. Analyses by research firm Preqin suggest that the credit quality of these BDC loan portfolios aligns with the performance of the broader market. Fund managers are employing standard 5% redemption caps and liquid reserves to safeguard the interests of non-exiting investors during this period of elevated activity. Knote: It certainly didn't take long to get a test of the liquidity of interval-type funds. It will be interesting to see what consumer fallout is. I suspect it might be one of those little things we look the other way on in order to secure higher yields, but could go the other way too. Meanwhile, PE firms are building vulture funds to grab cheap assets if someone is forced to liquidate. They never miss a beat.

Britton, D. (2026, April 9). Q&A: Reimagining the advisor experience with AI. Wealth Management. https://www.wealthmanagement.com/artificial-intelligence/fmg_new_ceo_marketing_ai FMG CEO Dave Christensen aims to use artificial intelligence to solve previously unsolvable workflow challenges for financial advisors. The strategic roadmap involves opening the FMG ecosystem to new tool categories and supporting advisors with early-stage prospecting. FMG plans to leverage generative AI to help advisors draft social media content and personalize client communications based on behavioral preferences. The integration of artificial intelligence has already driven a substantial increase in platform usage by automating complex content creation tasks. The firm intends to build core infrastructure technologies in-house while simultaneously acquiring or partnering with other companies to complete its vision. Christensen anticipates that traditional software categories, such as customer relationship management systems, will fundamentally transform over the next three years due to advanced AI capabilities. Future platform developments will demand extensive integrations to accommodate the diverse technology stacks and portfolio management products utilized by independent advisors.

InvestSuite. (2026, April 8). InvestSuite Reinvents Performance Reporting for Advisors and Asset Managers with the Launch of StoryTeller - Shifting Data to Instant Dialogue. InvestSuite. https://www.investsuite.com/insights/blogs/investsuite-reinvents-performance-reporting-for-advisors-and-asset-managers-with-the-launch-of-storyteller---shifting-data-to-instant-dialogue-%E2%80%8B InvestSuite has launched StoryTeller in the U.S. to transform static performance reporting into dynamic, engaging narratives for clients. The AI-native platform automates the creation of personalized, compliance-friendly reports tailored to an individual investor's financial expertise. Advisors utilizing the tool receive customized talk tracks containing curated conversation starters and contextual portfolio insights. An integrated AI agent serves as a real-time partner during client meetings to surface relevant data and anticipate follow-up inquiries. StoryTeller utilizes an API-based system to seamlessly connect with leading data providers for accurate pricing and portfolio composition metrics. The solution eliminates manual reporting processes by employing in-house algorithms to translate complex returns and risk data into client-friendly explanations. This technology aims to boost client retention and engagement while easing the time-intensive reporting burden traditionally placed on financial professionals.

Moneycontrol. (2026, April 7). CRED revamps wealth-tech platform Kuvera: Will enable investors to ‘do less but better’. Moneycontrol. https://www.moneycontrol.com/technology/cred-revamps-wealth-tech-platform-kuvera-will-enable-investors-to-do-less-but-better-article-13881921.html Fintech firm CRED has officially upgraded its Kuvera platform to deepen its presence in the Indian wealth management sector. The revamped application focuses on a philosophy of simplified investing to help users manage their portfolios with minimal friction. A new "Surplus" feature has been introduced to provide investors with curated access to liquid funds from four major asset management companies. The platform now offers enhanced analytics and automated insights to improve user decision-making and long-term asset allocation. CRED founder Kunal Shah emphasized that the redesign aims to serve an emerging class of wealthy individuals who prefer technology over traditional human-led advisory. Since acquiring Kuvera in early 2024, CRED has integrated the service to compete with established market leaders like Zerodha and Groww. The update includes a liquidity guarantee for the Surplus feature that allows users to withdraw significant portions of their investment within minutes.

WEALTHTECH SAFARI A Guided Tour of WealthTech News Week of April 3, 2026   State Street signals it’s ready to ‘disrupt’ RIA custody five years after abrupt exit, madly hiring Altruist veterans to build Apex-powered, ‘digitally native’ AI platform •      State Street Global Advisors, the asset management arm of one of the world’s largest custodian banks, is reportedly developing a digitally native RIA custody platform leveraging AI and Apex Fintech Solutions, having recruited several Altruist veterans. •      By re-entering the RIA custody market with a modern technology stack, State Street aims to challenge existing incumbents, though integrating agile startup culture with its legacy institutional framework presents a significant hurdle. Knote: I really want this initiative to work and I think all advisors should too. The raw potential of a brand new, innovative, perhaps even digital custodial platform re-imagined from the ground up immediately sets me off on wistful daydreams. Combined with the global presence of State Street, it could be a milestone development. What I worry about is, even with the most modern technology and architecture, it might still need to touch the core technology of State Street, and therein lies the problem. But, if they can solve that problem, I think they will go a long ways towards solving the problems of our industry. Read More →   Free AI WealthTech platform debuts for advisors •      UX Wealth has launched riskDNA, a specialized AI-native platform offering advisors risk intelligence, portfolio analytics, financial planning, and CRM capabilities at no cost. •      By subsidizing advisor software costs through asset manager distribution intelligence, this platform introduces a new revenue model that could significantly reduce technology barriers for growing RIAs. Knote: In my opinion, the dream architecture for a WealthTech would be a clean, centralized database with modular functionality hung off of it (CRM, portfolio construction, proposals, etc.). At the risk of attack, I will point out that the functionality does not necessarily have to be AI, but it can be. On the surface, riskDNA may be the closest thing I have seen yet. Read More →   Bachatt secures $12 million Series A led by Accel (India) •      Indian WealthTech startup Bachatt has raised $12 million in Series A funding to simplify financial planning and democratize access to wealth management for the nation’s underserved segments. •      This investment highlights a growing strategic focus on high-volume, low-friction digital platforms to capture emerging market investors early in their financial journey. Knote: Bachatt launched last May and claims to already have 3 million users on their platform and looking to scale to 30 million users in the next 12–24 months. That is the kind of growth US platforms can really only dream about. Read More →   Fiduciary duties in selecting designated investment alternatives •      The Employee Benefits Security Administration has proposed a rule to create a process-based safe harbor for fiduciaries evaluating alternative assets for defined contribution plans. •      By emphasizing an asset-neutral, prudent fiduciary process, this regulation aims to reduce litigation risks and open the door for integrating alternative assets like private equity and digital assets into 401(k) lineups. Knote: A big move forward for Alts2Wealth, except that our observation is that the defined fiduciary mandate that all fiduciaries “objectively and thoroughly evaluate all potential product offerings based on specific factors such as performance, fees, liquidity, valuation, benchmarks, and complexity” is not really feasible at the moment. Whoever steps into this gap with a due diligence product could build themselves a business as big or bigger than Morningstar, even if it is Morningstar itself. Read More →   T. Rowe Price names Bill Cashel as head of alternatives for its wealth channel •      T. Rowe Price, a global investment management firm with over $1.6 trillion in AUM, has appointed Bill Cashel as the new Head of Alternatives for U.S. Wealth to oversee and expand the delivery of alternative investment capabilities to wealth advisors. •      This strategic leadership hire signals T. Rowe Price’s aggressive expansion into the Alts2Wealth market, positioning the firm to capitalize on growing intermediary demand for both public and private market solutions. Knote: The main thing to note here is that this is a new position and represents T. Rowe taking the gloves off in the Alts2Wealth fight, just as everyone has or will in the near term. I will also point out that I have not met a lot of slow people from AQR, so I suspect Bill Cashel will get things moving fairly quickly. Read More →   AI, fintech boom: QED Investors’ India field notes 2026 •      QED Investors reports that artificial intelligence spending in Indian financial services will double by 2026, with global fintech revenues projected to hit $1.5 trillion by 2030. •      As AI becomes a core structural element, financial institutions are shifting from legacy channels to modular, embedded infrastructure to capture a rapidly expanding and digitally native investor base. Knote: We keep saying it, but this is just math. India has a population of 1.5 billion people or so and the average age is 29. Their investor base is already 125 million and has been growing at a 29% CAGR over the last 5 years. GDP is projected in the 6–7% range and wealth is building rapidly. And yet, there are only about 1,000 RIAs. There really is only one answer: technology. Read More →   Dhan reportedly in talks to acquire Infinyte Club (India) •      Dhan, a fast-growing Indian trading platform, is reportedly in advanced discussions to acquire wealth management startup Infinyte Club for roughly $10 million to offer institutional-grade investment tools to its users. •      By integrating private market opportunities and portfolio tracking, Dhan exemplifies a growing industry shift where retail trading platforms are evolving into comprehensive wealth management ecosystems. Knote: More action from India. WealthTech funding has tilted heavily at self-directed trading in India. There is nothing wrong with that except that the real problem India needs to solve is not Bitcoin trading but holistic financial advice, which is pretty much zero. We applaud Dhan given a hat tip that direction with this acquisition. Read More →

Dhan, a prominent stock trading platform operated by Moneylicious Securities, is reportedly in advanced discussions to acquire the wealth management startup Infinyte Club for approximately $10 million in a combination of cash and equity. This strategic move aims to broaden the service offerings of the parent company, Raise Financial Services, as it seeks to capture a larger share of the growing wealth management sector in India. Infinyte Club, which previously secured $3.6 million in funding from Elevation Capital and a group of prominent angel investors, specializes in providing institutional grade investment tools to a community of high net worth individuals and startup operators. The core functionality of Infinyte Club allows its members to track diversified portfolios and access exclusive private market opportunities, including employee stock ownership plans and pre-IPO investments. The platform serves roughly 50,000 members and focuses on the unique liquidity needs of employees at high growth technology companies. Following the completion of the deal, the Infinyte Club leadership team and its staff are expected to relocate to Mumbai to lead the wealth management division within the Dhan ecosystem. This integration will enable Dhan to offer more sophisticated tracking and advisory services to its existing base of more than 1 million active traders. This acquisition reflects a broader industry trend where retail trading platforms are moving up the value chain to provide comprehensive wealth management solutions for the mass affluent and affluent segments. By incorporating private market access and holistic portfolio tracking, Dhan is positioning itself to serve a wave of wealth creation that is expected to continue over the next decade. The deal follows other recent consolidations in the space and underscores the increasing importance of providing specialized financial services beyond simple brokerage operations. This transaction provides a clear path for Dhan to compete effectively for long term assets and deeper relationships within the high net worth market. Knote: More action from India. WealthTech funding has tilted heavily at self-directed trading in India. There is nothing wrong with that except that the real problem India needs to solve is not Bitcoin trading but holistic financial advice, which is pretty much zero. We applaud Dhan given a hat tip that direction with this acquisition. Link to Source

CNBC-TV18. (2026, March 24). AI, fintech boom: QED Investors' India Field Notes 2026. CNBC-TV18. https://www.cnbctv18.com/videos/business/startup/ai-fintech-boom-qed-investors-india-field-notes-2026-19878028.htm Artificial intelligence spending in Indian financial services is projected to double by 2026 as the technology becomes a core component of financial infrastructure. QED Investors forecasts that global fintech revenues will increase six-fold to reach an estimated $1.5 trillion by 2030. The report highlights a shift where fintech becomes a horizontal feature, causing the lines between financial and non-financial applications to blur significantly. Venture capital sentiment in India is moving away from speculative hype toward supporting defensible AI innovation and long-term capital sustainability. QED Investors intends to deploy approximately $500 million into the Indian startup ecosystem to support growth in sectors like digital lending and insurtech. Financial institutions are advised to invest in modular embedding infrastructure rather than continuing to rely on legacy distribution channels. Emerging trends indicate that Edge AI will play a critical role in providing localized and private AI solutions for the Indian financial market. Knote: We keep saying it, but this is just math. India has a population of 1.5 billion people or so and the average age is 29. Their investor base is already 125 million and has been growing at a 29% CAGR over the last 5 years. GDP is projected in the 6-7% range and wealth is building rapidly. And yet, there are only about 1,000 RIAs. There really is only one answer: technology.