CAIS, the alternative investment platform for independent financial advisors, has raised $170 million in a Series D financing that values the company at more than $2 billion. Vista Equity Partners led the round, joined by AllianceBernstein, funds managed by Blue Owl Capital, Carlyle, Fortress Investment Group, Golub Capital, Lord Abbett and Royal Bank of Canada. The July 29 announcement brings total capital raised since the firm's 2009 founding to nearly $600 million. CAIS provides pre-trade, trade and post-trade lifecycle management for alternatives, covering the operational workflow that has long made private markets difficult for wealth managers to access. The platform serves more than 2,500 wealth management firms representing over 65,000 advisors who oversee approximately $8.5 trillion in end-client assets. Founder and chief executive Matt Brown said the firm's biggest chapter is still ahead. Proceeds will fund platform expansion, technology and artificial intelligence capabilities, and strategic opportunities. The round reflects a broader shift in alternatives. Advisors increasingly treat private markets as a way to differentiate their investment process, while alternative managers facing tapped-out institutional demand look to the wealth channel for new pools of capital. Several of those managers appear on the investor list, which shows how closely the two sides are now aligned. Transparency, liquidity, research, education and onboarding friction remain obstacles, and platform infrastructure is where the industry expects to solve them. MMnote: While $600 million raised is a crazy amount, what's more impressive is 37% organic CAGR for such a mature platform. Some can be attributed to the functionality, but the alts market is so ripe that this can be achieved before taking wallet share from anyone else. My guess is 90% of those folks haven't had a solution for alternatives prior to using CAIS. Link to article

WealthReach, an AI-powered organic growth platform for registered investment advisors and wealth management firms, has acquired AdvisorRankings, a search engine optimization and AI search optimization agency built specifically for financial advisors. The acquisition brings AdvisorRankings' advisor-focused search and website expertise in house, giving WealthReach a done-for-you offering alongside its existing self-serve technology. Founded in 2010 by Brent Carnduff, AdvisorRankings has spent 16 years helping advisory firms rank on Google and, increasingly, on AI platforms such as Claude, ChatGPT and Perplexity. The firm will continue operating under its own brand within WealthReach, with Carnduff leading business development and shaping the company's SEO and AI search roadmap. “We've always believed advisors should have the flexibility to choose how they grow,” said Michael Barrasso, co-founder and CEO of WealthReach, noting the deal lets the company support both self-managed and expert-led growth paths. The move matters because prospects are increasingly researching advisors through AI tools rather than relying on traditional search alone, and research cited in the release suggests AI-driven leads tend to carry higher intent and net worth than those from conventional channels. The acquisition follows a $1 million seed round and the earlier purchase of Model FA's intellectual property, continuing WealthReach's push to combine technology, expert execution and consulting under one platform. https://www.businesswire.com/news/home/20260730017756/en/WealthReach-Acquires-AdvisorRankings-Adding-In-House-Expertise-to-Help-Financial-Advisors-Get-Found-in-the-AI-Era

Allfunds Group plc. (2026, July 29). Interim report 1H 2026. https://cms-assets.allfunds.dev/assets/Allfunds_Group_plc_Interim_Report_1_H_2026_Board_VF_a146578b40.pdf Allfunds' total assets under administration reached €1,943 billion at 30 June 2026, an increase of 21.3% year-on-year, with platform service AuA up 23.0% to €1,385 billion and Dealing & Execution AuA up 17.3% to €558 billion. Net revenue rose 9.9% year-on-year to €337.6 million and adjusted EBITDA grew 10.2% to €229.0 million at a 67.8% margin, while the platform margin excluding net treasury income was 3.0 basis points. Platform service net flows were €51.1 billion, or 8.2% of beginning-of-period platform service AuA on an annualised basis, down from €54.2 billion in the prior-year period. The company added 46 new distributors and 94 fund partners in the first six months of 2026 as clients replaced internal solutions and moved to an open-architecture model. Alternatives continued to expand, with 253 alternative fund partners available on the platform, up 32.5% year-on-year, and Alternatives Solutions AuA of €41.4 billion, up 54.4%. Shareholders voted in favour of Deutsche Börse AG's recommended cash and share acquisition of Allfunds on 12 March 2026, and the directors still expect final approval to be completed in the first half of 2027. CEO Annabel Spring said that with the portfolio review complete the company is focused on accelerating growth in alternatives and ETFs and advancing innovation in tokenization, and Allfunds guided to platform service net flows of €100 billion to €120 billion for 2026. Knote: Things to watch from a WealthTech lense: Increase in Alternatives (we believe model portfolio services will be a primary beneficiary) and increasing demand for MPS from independent advisors (we believe a significant tailwind for Allfunds).

Morningstar, Inc. (July 28, 2026). Morningstar, Inc. reports second-quarter 2026 financial results [Press release]. Business Wire. https://www.businesswire.com/news/home/20260728222875/en/Morningstar-Inc.-Reports-Second-Quarter-2026-Financial-Results Morningstar reported second-quarter revenue of $663.2 million, up 9.6% on a reported basis and 6.8% organically, with Morningstar Credit, Morningstar Direct Platform, and PitchBook the largest contributors to organic growth. Operating income rose 28.4% to $160.6 million and operating margin reached 24.2% versus 20.7% a year earlier, while diluted net income per share increased 35.4% to $2.83. Morningstar Credit was the fastest-growing segment, with revenue up 23.4% to $104.9 million on robust issuance and particular strength in US structured finance ratings and Canadian and US corporates. Morningstar Wealth revenue declined 6.2% to $60.3 million and assets under management and advisement fell 4.5% to $63.8 billion, though excluding the sunsetting of Morningstar Office organic revenue would have increased 5.3%. Morningstar Retirement revenue grew 17.0% to $37.9 million and its AUMA rose 9.0% to $311.0 billion, driven by market gains and positive net flows to traditional and Advisor Managed Accounts. CEO Kunal Kapoor said the company is building agentic workflows and tools atop its data, research, and intellectual property, and is expanding collaborations with leading model and enterprise technology providers to broaden access to that content. Kapoor also pointed to the convergence of public and private markets, citing private ratings activity in Morningstar Credit, a Morningstar Wealth collaboration with leading asset managers to create public/private models, and the latest State of Semiliquid Funds report. Knote: From a WealthTech standpoint, the drivers to watch are Credit Ratings, Private Asset Ratings (not there yet, although they might try to argue otherwise), and Public/Private Models.

Max Metcalf via LinkedIn. Slant. Demo Link: https://www.linkedin.com/feed/update/urn:li:activity:7488651287324962816/ Slant's Intake Forms collect client and prospect information through branded forms that are built into, filled into, and included with the Slant platform. Users describe the form they want in plain language and chat with Slant to make edits, add fields, and revise sections rather than using a conventional form builder. Forms pull data from the CRM before they are sent, and a document step extracts details from an uploaded documents such as tax returns so clients are asked only for what the return cannot provide. Submitted responses can be applied directly to the client record in one click, eliminating exporting, copy-pasting, and manual data entry. Forms pull the firm's logo, colors, and type from its brand kit so clients receive a branded questionnaire rather than a generic one. Forms are included with Slant, requiring no separate form builder, additional subscription, or integration to maintain. Available templates include client intake, advanced tax planning for 351 exchange screening, risk assessment, pre-IPO checklist, alternative investment deep dive, executive compensation review prep, retirement readiness quiz, and client event RSVP. Knote: More evidence of the power of AI-based CRM. Some people feel AI will kill off CRMs. I agree with that, but only if "CRMs" are defined narrowly as what traditional CRMs look like now. Either way, I do enjoy a good AI demo, especially if it is not vaporware.

WEALTHTECH SAFARI A Guided Tour of WealthTech News Week of July 31, 2026 *NEW FEATURE* WealthTech Job Exchange Because finding a good job is hard but building a good team is harder. Enterprise GTM and Sales -- Available FTE -- 20-year veteran of BlackRock, SS&C Technologies, and FA Solutions Link Knote: We are introducing a new feature: Job Exchange. This is our attempt at connecting our friends who are looking for new challenges with our friends who are looking to build great teams. We don't charge (or take any responsibility for the content!). It's just us having fun and trying to help WealthTech. Advyzon Debuts Native AI System for Advisers Advyzon launched Advyzon AI, a natively embedded intelligence layer that runs across its single-platform data model to manage adviser workflows, prepare client meetings, and surface proposed next actions for review. Its “All-in AI” approach positions native, workflow-embedded intelligence, rather than bolt-on tools, as the emerging standard for adviser technology platforms. Knote: They are leading with the feature set and I appreciate that. I am excited to learn about the governance, though. They are well positioned to be a leader in enterprise AI governance, if they decide to step into that. Read the full post Saudi Digital WealthTech Platforms Market Surpasses USD 1.9 Billion Milestone A new Ken Research report values Saudi Arabia’s digital WealthTech platforms market at USD 1.9 billion, driven by Vision 2030 digitalization, robo-advisory adoption, and demand for Shariah-compliant wealth management. The Kingdom’s open-banking licensing and fintech frameworks mark the Gulf as an increasingly investable growth region for wealth platforms. Knote: It may not be the largest market, but it has regulatory certainty, and expanding wealth base, and a very pro-business government (at least as far as WealthTech is concerned). Read the full post 20 Questions to Ask in Every WealthTech AI Demo WealthManagement.com published a five-level, 20-question due-diligence framework for evaluating WealthTech AI vendors, beginning with data governance before advancing to architecture, human oversight, and validated performance. The framework gives buyers a structured way to separate production-ready AI from roadmap promises amid tightening Regulation S-P vendor-oversight obligations. Knote: There you have it from The Oasis Group, which is rapidly becoming an authority on WealthTech AI. Note that Level 1 is all about governance. If that level does not pass, no need to proceed any further. It may be a long read but it is a very short masterclass. Read the full post F2 Expands Canadian Business With Intelligo Acquisition F2 Strategy, a wealth-and-asset-management consultancy, acquired Toronto-based Intelligo Partners to expand its investment-technology implementation business in Canada, with financial terms undisclosed. Coming on the heels of its Meradia deal, the acquisition deepens consolidation among the consultancies guiding investment firms from AI pilots toward enterprise modernization. Read the full post Objectway Enters Capital Markets With Planned Acquisition of France’s SLIB Pan-European WealthTech provider Objectway entered exclusive talks to acquire French capital-markets software specialist SLIB from BNP Paribas and Natixis, marking its first move into trading, clearing, and settlement. The deal reflects providers acquiring specialists to build broader platforms spanning the full investment-services value chain rather than a single function. Knote: This makes sense. France was the missing piece. Time to look east now. Read the full post LPL Financial Rolls Out New Wealth Tech Platform LPL Financial launched LPL Latitude, an integrated platform built on nearly $2bn of three-year investment that unifies data architecture, cybersecurity, its Cyan agentic-AI agent, and advisor and end-investor applications. Hardened after a 2025 advisor-portal breach, the rollout signals large broker-dealers embedding agentic AI directly into core advisor workflows at scale. Read the full post Banks Move to Charge Investors for Access to Their Own Financial Data Firms including Schwab, Fidelity, and JP Morgan are positioned to charge data aggregators for access to customer financial data under emerging CFPB rules, potentially generating billions in fees. The shift could reshape open-banking economics, pressuring fintechs and aggregators like Plaid that have relied on free data access. Read the full post Robinhood Beats Quarterly Profit Estimates as Trading Activity Remains Robust Robinhood beat Q2 profit estimates with adjusted earnings of 48 cents per share as transaction revenue rose 44% to $776 million on strong equities, options, and prediction-market activity. Event contracts, contributing $156 million in the quarter, are emerging as a central growth engine shifting retail attention away from crypto. Read the full post AI Dominates Compliance Priorities at Historic Margin as Firms Move from Awareness to Action The 2026 IAA/ACA/Yuter compliance survey found 85% of adviser firms naming AI their top 2026 compliance topic, the most dominant response in the survey’s 21-year history, with 72% increasing AI testing. The jump from awareness to action, alongside persistent governance gaps, signals AI oversight becoming the defining compliance workstream for advisers. Knote: To misquote Buffet: You want an AI system that is flexible, impactful, and controlled. And if you get the last one wrong the first two will kill you. Read the full post Bloomberg to Acquire Canoe Intelligence in Private Markets Data Push Bloomberg signed a definitive agreement to acquire Canoe Intelligence, an AI platform that automates private-markets data collection across more than 44,000 funds and 500-plus institutional clients, with terms undisclosed. The deal extends Bloomberg beyond its public-markets Terminal into alternatives, targeting the data friction that has slowed private-markets adoption among wealth managers. Knote: This could be a solid step towards systems that manage both public and private investments simultaneously. We would have preferred a platform with a larger wealth management presence, but we’ll take it. Read the full post ExchangiFi Secures Strategic Investment From Prosperity Venture Partners ExchangiFi, the first independent Section 351 ETF-exchange platform, secured a strategic investment from Tommy Mayes’ single-family office Prosperity Venture Partners, adding Mayes to its board of directors. The backing scales a tax-efficient path for advisors to move clients out of low-basis SMAs into liquid ETFs, tapping a fast-growing pipeline of 351 exchanges. Knote: People having to plan around large single-stock holdings is nothing new. But the sheer volume of people becoming multi-millionaires on some random day at 9:30am is new. Read the full post InvestiFi Lands $20M to Scale Embedded Investing for Community Institutions InvestiFi, a credit-union investing platform, raised $20m led by Vibe Credit Union to expand embedded investing that lets account holders trade directly from their checking and savings accounts. The round advances “self-directed trading as lead generation,” helping community banks and credit unions recapture deposits lost to outside brokerages. Knote: Don’t overlook local banks when it comes to investing. There are a lot of 1st generation citizens that have a natural distrust of large financial institutions, depending on where they are from. A lot of multigenerational citizens too. Read the full post LemonEdge Lands $21m Series A to Modernize Private Markets LemonEdge, a private-markets fund-accounting platform, raised a $21m Series A led by Blackstone Innovations Investments with BNY, lifting total funding past $30m and installing David T. O’Malley as CEO. The raise reflects investors building the real-time accounting infrastructure needed as private-markets demand broadens well beyond institutions. Knote: LemonEdge deserves to win. We love alts infrastructure. But also importantly, a lemon is ovoid and has no edges and that makes me smile. Read the full post *NEW FEATURE* WealthTech Job Exchange Because finding a good job is hard but building a good team is harder. Enterprise GTM and Sales -- Available FTE -- 20-year veteran of BlackRock, SS&C Technologies, and FA Solutions Link Knote: We are introducing a new feature: Job Exchange. This is our attempt at connecting our friends who are looking for new challenges with our friends who are looking to build great teams. We don't charge (or take any responsibility for the content!). It's just us having fun and trying to help WealthTech. Read the full post

Munnangi, V. E. (2026, July 23). Advyzon debuts native AI system for advisers. Private Banker International. https://www.privatebankerinternational.com/news/advyzon-adviser-platform-ai/ Advyzon has launched Advyzon AI, a built-in artificial intelligence system embedded within its wealth management technology and data platform for financial advisers and investment managers. The product follows an "All-in AI" model in which intelligence is integrated across a single platform, one data model and a shared architecture rather than attached through separate tools or integrations. The system operates within existing adviser processes to manage workflows, execute tasks and surface information intended to support operational efficiency. It draws on shared workflows and platform data to locate relevant information, link connected activities across a firm and prepare proposed next actions for adviser review. Functionality extends across client relationships, financial planning, portfolios, reporting, billing, compliance, documents, operations and team collaboration. Core features include client intelligence and meeting preparation, note-taking and follow-up support, document classification and data extraction, and planning tools covering cashflow modelling, scenario analysis, portfolio optimization and tax strategy assessment. Founder and CEO Hailin Li stated that effective AI in wealth management must understand how advisers work, fit natively into each firm's operating model and become a routine part of daily operations. Knote: They are leading with the feature set and I appreciate that. I am excited to learn about the governance, though. They are well positioned to be a leader in enterprise AI governance, if they decide to step into that.

Ken Research Pvt. Ltd. (2026, July 23). KSA digital WealthTech platforms market surpasses USD 1.9 billion milestone: Latest insights by Ken Research. openPR. https://www.openpr.com/news/4584513/ksa-digital-wealthtech-platforms-market-surpasses-usd-1-9 The Saudi digital WealthTech platforms market is valued at USD 1.9 billion based on a five-year historical analysis. Market expansion is driven by Vision 2030 financial-sector digitalization, accelerating robo-advisory and online investment adoption, rising demand for Shariah-compliant wealth management, and growing fintech and open-banking infrastructure. The 92-page report maps market dynamics, competitive positioning, and investment opportunities across retail investors, mass-affluent customers, high-net-worth individuals, SMEs, and financial institutions. Government initiatives including the Financial Sector Development Program, regulatory sandboxes, and fintech licensing frameworks establish a stable foundation for platform development and cross-sector collaboration. In March 2026, the Saudi Central Bank began licensing fintech companies to provide open-banking services following completion of its regulatory sandbox phase. The analysis benchmarks more than 15 regional and international players, including Al Rajhi Bank, stc pay, NCB Capital, Riyad Bank, and EFG Hermes, across metrics such as assets under management, active users, and revenue. The report delivers 5-year and 10-year forecast models spanning 2025 to 2030, white-space analysis, and a regulatory roadmap covering licensing, data protection, and open-banking compliance. Knote: It may not be the largest market, but it has regulatory certainty, and expanding wealth base, and a very pro-business government (at least as far as WealthTech is concerned).

Objectway, a pan-European wealthtech solution partner for banking, wealth, and asset management firms, has entered exclusive negotiations to acquire SLIB, a French capital markets software specialist, from BNP Paribas and Natixis. Under the proposed terms, the two banks would transfer their entire stakes in SLIB to Objectway. The deal remains subject to regulatory approvals and employee consultation processes in France and is expected to close by December 31, 2026. No transaction value was disclosed. Objectway provides technology across wealth management, private banking, and asset management, and the acquisition would mark its first move into capital markets, adding trading, clearing, and settlement capabilities to its platform. SLIB, founded in 1988 out of the Lyon Stock Exchange's IT department, is embedded in live European market infrastructure, including recent work with Euronext Securities. The deal gives Objectway a direct presence in France, one of Europe's largest financial centers, alongside its existing footprint in Italy, Germany, Switzerland, Benelux, and the United Kingdom, and broadens its client base among asset servicers, broker-dealers, and banks. For advisors, platforms, and integrators, the move reflects the broader consolidation reshaping the industry. As technology providers compete on scale and breadth, firms like Objectway are acquiring specialists to build wider platforms spanning the full investment services value chain rather than a single function. Knote: This makes sense. France was the missing piece. Time to look east now. https://www.morningstar.com/news/business-wire/20260724764543/objectway-expands-into-capital-markets-with-its-project-to-acquire-french-specialist-slib-pushing-forward-its-pan-european-growth-strategy

Srivastava, P. (2026, July 29). Robinhood beats quarterly profit estimates as trading activity remains robust. Reuters. https://www.reuters.com/business/finance/robinhood-quarterly-profit-rises-strong-trading-activity-2026-07-29/ Robinhood Markets exceeded Wall Street estimates for second-quarter profit, supported by strong trading in equities, options, and prediction markets that offset weaker cryptocurrency activity. Adjusted earnings reached 48 cents per share, surpassing the analysts' average estimate of 44 cents based on data compiled by LSEG. Transaction-based revenue rose 44 percent from a year earlier to $776 million, driven by gains in equities, options, and event contracts. Event contracts generated $156 million in revenue during the quarter, reflecting the expanding contribution of prediction markets to overall results. Heightened market volatility, attributed in part to the U.S.-Iran conflict and its effects on inflation and Federal Reserve rate expectations, kept retail investors active. Analysts described prediction markets as an increasingly central growth driver that has shifted investor attention away from cryptocurrency. Robinhood shares fell 0.8 percent in extended trading and have declined 20.6 percent year to date, with one strategist citing elevated valuation as a concern.

Investment Adviser Association, ACA Group, & Yuter Compliance Consulting. (2026, July 29). AI dominates compliance priorities at historic margin as firms move from awareness to action. ACA Group. https://www.acaglobal.com/news-and-announcements/survey-ai-dominates-compliance-priorities-at-historic-margin-as-firms-move-from-awareness-to-action/ The 2026 Investment Management Compliance Testing Survey, released by the IAA, ACA Group, and Yuter Compliance Consulting, found that 85% of investment adviser firms identified AI as the top compliance topic for 2026, a 28-percentage-point increase from 2025 and the most dominant single response in the survey's 21-year history. AI led the ranking of top compliance topics ahead of cybersecurity (37%), privacy/Regulation S-P (35%), advertising and marketing (19%), and prediction markets (14%). Firms moved from awareness to action, with 72% increasing their AI compliance testing in 2026, representing the largest year-over-year testing increase of any tracked topic. AI policy adoption advanced significantly, as 80% of firms formally adopted AI tools, 86% established acceptable use policies, 86% maintained inventories of AI tools, and 59% created formal AI governance committees. Governance gaps persist, with only 48% of firms holding human-in-the-loop oversight policies, 37% governing testing and validation of AI outputs, 30% addressing third-party AI use, and 14% updating incident response plans for AI-related disruptions. SEC examination focus areas remained consistent year over year, led by advertising and marketing (57%), books and records (53%), conflicts of interest (53%), fee calculation and billing (48%), and personal trading/code of ethics (36%). Compliance program structure and budgets held steady relative to 2025, while third-party risk management continues to evolve, with 39% of firms already making significant changes and only 7% maintaining a formal process to assess fourth-party risk. Knote: To misquote Buffet: You want an AI system that is flexible, impactful, and controlled. And if you get the last one wrong the first two will kill you.

Bloomberg announced on July 29, 2026 that it has entered into a definitive agreement to acquire Canoe Intelligence, an AI-powered data management and intelligence platform that automates the collection and delivery of private markets data. Financial terms of the transaction were not disclosed. Canoe functions as connective tissue between general partners and limited partners, structuring the post-investment reporting that private markets have long handled through fragmented documents. The platform processes more than 1.5 million documents each month across over 44,000 funds, and it delivers portfolio-ready data to more than 500 institutional clients representing over $11 trillion in assets under service. Its clients include institutional investors, fund servicers, wealth managers, and family offices. The deal extends Bloomberg's reach beyond its public markets Terminal into private assets, letting it combine Canoe's capabilities with its own data and analytics across the full investment lifecycle. For advisors and platforms, the acquisition speaks to the broader industry pull toward alternatives, where client demand is rising but transparency, research, and onboarding friction have slowed adoption. By automating the data plumbing behind private funds, the transaction targets one of the practical barriers that has kept alternative investments harder to scale for wealth managers. Knote: This could be a solid step towards systems that manage both public and private investments simultaneously. We would have preferred a platform with a larger wealth management presence, but we'll take it. https://www.bloomberg.com/company/press/bloomberg-to-acquire-canoe-intelligence-taking-a-defining-step-in-its-mission-to-transform-private-markets-investing/