Subscribe to receive timely notifications of WealthTech news, insights and announcements

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.

Fidelity Newsroom. (2026, March 4). Fidelity® Q4 2025 Retirement Analysis: Average Annual 401(k) Account Balances Increase by Double Digits for Third Year in a Row. Fidelity. https://newsroom.fidelity.com/pressreleases/fidelity--q4-2025-retirement-analysis--average-annual-401-k--account-balances-increase-by-double-dig/s/aa6c3841-2f2d-4d6b-b38e-14a2a857b1b4 Average 401(k) balances reached a record $146,400 at the end of 2025, marking an 11% increase from the prior year. Average 403(b) account balances saw a 13% annual increase, finishing the year at $133,500. Individual Retirement Account (IRA) balances grew by 7% year-over-year to reach an average of $137,095. Total 401(k) savings rates remained steady at 14.2%, which is just below the 15% recommended savings target. The number of participants with million-dollar 401(k) balances hit a new record of 665,000 during the fourth quarter. Younger generations demonstrated strong savings engagement, with over 13% of Gen Z participants increasing their contribution rates. Long-term female savers reached a significant milestone as those with 15 years of continuous participation averaged over $500,000 in their accounts. 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.

Saini, M. (2026, March 06). Robinhood's $658 million private markets fund for retail investors goes public. Reuters. https://www.reuters.com/business/finance/robinhoods-658-million-private-markets-fund-retail-investors-goes-public-2026-03-06/ Robinhood Markets has officially listed its flagship $658.4 million venture fund on the New York Stock Exchange. This public debut allows individual traders to gain exposure to a set of "pre-IPO" technology companies through a traditional exchange-traded vehicle. Initial companies held include: Databricks (approx. 23%), Revolut , Ramp , Airwallex , Boom Supersonic , Oura , Mercor, and soon to be Stripe . The initiative reflects Robinhood's ongoing corporate strategy to democratize sophisticated financial products for its user base. As a closed-end fund structure, retail investors can buy and sell their interest just like a stock, no matter what their accreditation status is. Management fee is a flat 2%, which is quite high for a typical retail fund, but much lower than a typical venture capital or private equity fund investment because there are no performance fees. 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.

Your guided tour of the interesting events in WealthTech for the week. Orion Announces Denali AI Enterprise Version, Powering a New Era in Advisor Productivity  Orion has launched the Denali AI Enterprise version to automate complex workflows and provide advisors with real-time access to actionable client data through natural language processing.  This release marks a strategic shift from basic AI experimentation to enterprise-grade data orchestration, allowing firms to scale productivity while maintaining strict regulatory oversight.  Knote : An AI tool that lets people query data? Meh. A data layer that allows people to query data with an AI tool? Very interesting and awesome! AI is not a computational exercise. It's a data exercise first and foremost. Orion has spent the last several years trying to get its arms around its data ocean and now they are reaping the rewards.    Read More: WealthTech Strategy Partners Blog RPAs Face Growing Competition From Wealth Advisors Over 401(k) Participants  Wealth management firms are aggressively targeting 401(k) participants to capture rollover opportunities and individual assets, challenging traditional retirement plan advisors.  The convergence of institutional retirement consulting and individual financial planning is accelerating, turning the employer-sponsored plan into a primary frontier for high-net-worth client acquisition.  Knote : With more people turning 65 this year than in human history, 401-k rollovers and advisory is the major battleground for organic growth and advisors need to sharpen their proposals, get in there, and win. The Great Wealth Transfer is happening over the next 30 years. The Great Liquidation is happening now.  Read More: WealthTech Strategy Partners Blog   Fidelity Expands Alternative Investment Resources for Wealth Management Firms  Fidelity Investments is broadening its alternative investment platform with new educational series, digital research tools, and streamlined subscription processes for private market assets.  By integrating institutional-grade products with advisor-centric workflows, Fidelity is positioning itself as the essential infrastructure provider for firms seeking to diversify beyond traditional asset classes.  MWnote : Fidelity’s expansion reflects the platformization of alternatives, where controlling advisor workflow and infrastructure, not just product access, becomes a primary driver of long-term economics in private markets distribution.  Read More: WealthTech Strategy Partners Blog   Natural Language Research: Google Finance’s Deep Search Changes Investment Workflows  Google Finance has introduced a Deep Search feature using natural language processing to extract qualitative insights and thematic risks directly from complex financial filings like 10-Ks.  The democratization of sophisticated NLP tools shifts the analyst's role from manual data collection to high-level strategic interpretation, leveling the research playing field between retail and institutional investors.    Read More: WealthTech Strategy Partners Blog The Oasis Group’s AI Readiness Index: First Maturity Benchmark for Wealth Management Industry  The Oasis Group launched the first AI Readiness Index to provide wealth management firms with a standardized framework for evaluating data governance and technological maturity.  The index highlights that strategic data management is the critical prerequisite for firms looking to move beyond AI pilots into scalable, enterprise-wide implementation.  Knote : The Oasis Group team continues to make quite a name for themselves in Wealth AI, so they have a chance at becoming the key benchmarking agent for AI adoption at a wealth firm. They even include a self-assessment tool, which consultants rarely do, but I guess this is that important. Note that they identify strategic data management as the most critical factor for enterprise adoption. We couldn't agree more.  Read More: WealthTech Strategy Partners Blog   Robinhood Unveils the Future of Family Finance at Robinhood Presents: Take Flight  Robinhood has introduced a comprehensive family finance suite, including a unified family hub, custodial accounts, trust support, and a premium platinum credit card.  These updates signal Robinhood's aggressive evolution into a full-service financial super-app designed to retain mass-affluent households and capture multi-generational wealth.  Knote : Robinhood continues its march away from day trading and towards a comprehensive financial platform for mass affluent. A new family portal certainly contemplates family wealth in the mass affluent or even HNW area, as does the platinum card launch (clad in real platinum). I will also point out that their digital advice platform is up to $1.5b  Read More: WealthTech Strategy Partners Blog Charles Schwab Completes Acquisition of Forge Global  The Charles Schwab Corporation has finalized its $660 million acquisition of Forge Global to provide retail and advisor clients with direct access to pre-IPO private securities.  By integrating a leading private marketplace into its ecosystem, Schwab is scaling its "Alts2Wealth" capabilities to meet the increasing demand for private equity among individual investors.  Knote : This announcement comes just a few days before Robinhood's pricing of their Ventures I fund (probably not a coincidence). Fidelity also announced this week that they were increasing their Alts2Wealth presence with new model portfolios and education. Taken together, it is shaping up to be a big week for Alts2Wealth.  Read More: WealthTech Strategy Partners Blog

Charles Schwab. (2026, March 2). Charles Schwab Completes Acquisition of Forge Global. Schwab Press Room . https://pressroom.aboutschwab.com/press-releases/press-release/2026/Charles-Schwab-Completes-Acquisition-of-Forge-Global/default.aspx The Charles Schwab Corporation has officially completed its acquisition of Forge Global Holdings, Inc., a leading marketplace for private securities. The deal was announced back in November ( see Schwab to Acquire Forge For $660mm, Expanding Access to Private Markets ) This acquisition allows Schwab to offer its retail and advisor clients direct and indirect access to pre-IPO company shares. Forge Global will maintain its current operations and issuer relationships while work begins to integrate its infrastructure into the Schwab ecosystem. Schwab intends to scale Forge’s technology and data services across its platform to support wealth creation for individual investors and Registered Investment Advisors. Knote: This announcement comes just a few days before Robinhood's pricing of their Ventures I fund (probably not a coincidence). Fidelity also announced this week that they were increasing their Alts2Wealth presence with new model portfolios and education. Taken together, it is shaping up to be a big week for Alts2Wealth.

Fidelity Investments. (2026, March 3). Fidelity Expands Alternative Investment Resources for Wealth Management Firms . https://newsroom.fidelity.com/pressreleases/fidelity-expands-alternative-investment-resources-for-wealth-management-firms/s/6ff38d01-6606-4b27-a1e0-29a35cf9971a Fidelity is expanding its alternative investment capabilities to help wealth management firms navigate the complexities of private markets. The firm has launched a new "Alternative Investment Strategies" educational series designed to deepen advisor knowledge of private equity, debt, and real estate. A central component of the expansion is the enhancement of Fidelity’s alternative investment platform, which provides streamlined access to a diverse range of institutional-grade products. New digital tools and analytics are being integrated into the platform to improve the research, subscription, and reporting processes for financial professionals. Fidelity aims to address the growing demand for portfolio diversification as traditional asset classes face increased volatility and lower projected returns. The initiative includes strategic collaborations with leading alternative asset managers to offer exclusive investment opportunities to Fidelity's clients. This expansion underscores Fidelity’s commitment to providing comprehensive support and infrastructure for firms seeking to scale their alternative investment offerings. MWnote: Fidelity’s expansion reflects the platformization of alternatives, where controlling advisor workflow and infrastructure, not just product access, becomes a primary driver of long-term economics in private markets distribution.

Robinhood. (2026, March 4). Robinhood unveils the future of family finance at Robinhood presents: Take flight . Robinhood Newsroom. https://robinhood.com/us/en/newsroom/robinhood-unveils-the-future-of-family-finance-at-robinhood-presents-take-flight/ Robinhood announced a new suite of products aimed at transforming the platform into a comprehensive financial super-app for families. The company introduced a new family hub that provides households with a unified view of accounts while maintaining intentional access and clear permissions. Custodial accounts are being launched to allow parents and guardians to invest on behalf of minors with seamless asset transfer at the age of majority. New trust accounts will support trustees in managing investments for revocable living trusts, including equities, options, and cash holdings. The Robinhood Platinum Card was unveiled as an invite-only premium credit card offering elevated benefits and high credit limits for a $695 annual fee. Updates to Robinhood Strategies and the new returns hub will provide customers with enhanced portfolio analysis and reinvestment options as well as tax-aware transfers. To celebrate the event, the company launched HOOD Rewards, featuring limited-time promotional drops and sweepstakes for eligible customers. Knote: Robinhood continues its march away from day trading and towards a comprehensive financial platform for mass affluent. A new family portal certainly contemplates family wealth in the mass affluent or even HNW area, as does the platinum card launch (clad in real platinum). I will also point out that their digital advice platform is up to $1.5b