Here’s your Riskly’s Fintech Five for March, which we think focuses on the top five recent stories in wealth management technology.
1. Tyrone Ross Takes Offramp From Onramp
Our first story from this month rocked the fintech industry. Tyrone Ross announced that he was taking Proposal onramp investA company he co-founded and led as its first CEO.
The move made a lot of consultants think about the feasibility of the platform. If Ross was leaving, how would Onramp go on without his unique charisma?
While co-founder Eric Ervin has stepped down as CEO to propel the ship, make no mistake: It’s no small thing for a young startup to change CEO.
Soon after, news broke that the company was seeking fresh capital from investors so that they could stay afloat. The industry will keep a close eye on how OnRamp navigates this volatility; If it’s any consolation, volatility is related to the asset they are helping advisors navigate in cryptocurrencies. We at OneRamp wish our friends good luck as they figure it out.
2. Ed O’Brien Leaves Eamonie to Become Head of Fidelity’s Tech
Ed O’Brien Has moved on from eMoney After six years and will return to Fidelity Institutional as its new Head of Technology. eMoney’s Head of Marketing, Susan McKenna, takes his place as interim CEO.
O’Brien led some major changes at eMoney after its acquisition by Fidelity, which helped it grow to over 800 employees and nearly 100,000 users.
Fidelity is clearly making some aggressive moves on the technology side, which has also pulled in fellow eMoney veteran Jess Librey as head of technology product
3. F2 Strategy, Girls Coding Team to Address Equity in Fintech
F2 Strategy, a management consulting firm for RIA, partnered with girls who codeA non-profit organization working to bridge the gender gap in technology.
We are all aware of the gender gap in the consulting profession – women, for example, make up only 23% of CFPs – but in technology the gender gap is often even more pronounced. It takes effort and focus at the education and recruitment level to move the needle and ensure that we create great opportunities for all of us, which ultimately creates stronger companies that serve customers more effectively. We do.
Many congratulations to the co-founders, Doug and Liz Fritz, for taking this step.
4. Gridlines Enter the Alts Platform Game
A new options platform called grid line is introduced As a competitor to platforms like CAIS, iCapital and First Trust Capital Solutions.
Remember when “alternative” was mostly a style of music? If this “alt” trend continues, people may start to put “Nirvana” and “Private Equity Fund” in the same sentence.
We’ve talked a lot in recent years about the democratization of investing, and the next frontier is the option to bring additional asset classes to the table that may provide some non-correlated or high-growth solutions for investors.
Gridline’s vision was focused directly on the consumer, but is increasingly turning to serving financial advisors, which has been a central focus of CAIS and iCapital, and then First Trust acquired Vivaldi and was transferred to First Trust Capital Solutions. rebranded. Will there be another entry into the advisory market, or is this space already getting too crowded?
5. Carson Group Adds CTO to Its C-Suite
Our final story is an interesting personal move.
RIA giant Carson Group has roped in Nimesh Patel as its first chief technology officer,
With Bain Capital joining Carson last year, he pointed to Carson’s unique technical capabilities in evaluating his firm. Ron Carson has been a leader in believing that technology differentiation drives value for consultants, and he’s rapidly delivering on that with a powerful strategy – leveraging best-of-a-racial solutions with robust APIs that Carson offers. can uniquely join together into a unified whole.
We can’t wait to see what Nimesh RIA achieves for the industry’s latest unicorn.