Amidst the tidal wave of latest AI-powered functions and providers obtainable to advisors and the remainder of the world, it might need come as a shock that Nvidia grew to become the world’s largest firm by market cap earlier this week.
As a lot of the nation was voting in Tuesday’s elections, Nvidia exceeded Apple’s market capitalization. Nvidia was valued at $3.43 trillion on the shut of the market, with Apple valued at $3.38 trillion. Nvidia has accomplished this earlier than, surpassing Apple for a single day in June.
AdviceTech.Stay Is Subsequent Week
Asset-Map Holdings, a visible monetary planning supplier, is holding its fifth annual AdviceTech.LIVE digital convention on advisor expertise subsequent week, Nov. 12-13. Attendance is free; you simply must register.
The occasion will current pace demos from 20 advisor expertise corporations and host six keynote audio system.
Along with showcasing a whole lot of advisor expertise, the sponsorship proceeds raised throughout the two-day occasion will likely be contributed to Philly Phinancial Literacy Week Inc., a company devoted to increasing entry to financial assets and training. Asset-Map has raised over $140,000 from the occasion over the previous 4 years.
Pontera Integrates With Envestnet BillFin
Pontera this week introduced the provision of its integration with Envestnet’s BillFin (the cloud-based advisory billing software program for RIAs that resulted from its acquisition of Redi2 Applied sciences in 2022).
By the mixing, advisors who use Pontera to handle their shoppers’ 401(okay) accounts can streamline their billing.
BillFin offers RIA corporations with a complete billing resolution, from calculating advisory charges (flat, tiered or banded AUM). It may well match most methods a agency already payments its shoppers—upfront or in arrears—primarily based on a number of parameters equivalent to the tip of the interval, with flows or common day by day steadiness. There’s additionally self-service onboarding, the power to totally customise your invoices and arrange asset exclusions by family, account, asset class or particular person safety, amongst different options.
DriveWealth Increasing into Europe
U.S.-headquartered brokerage-as-a-service supplier DriveWealth introduced this week it had been granted a brokerage license from the Financial institution of Lithuania (the European nation’s central financial institution).
This marks the corporate’s enlargement into Europe; it already has regulatory standing in the US and Singapore.
The imaginative and prescient is that it will help DriveWealth’s potential to develop its platform to supply European securities in addition to present a “follow-the-sun” 24/7 service mannequin repeatedly throughout time zones, in response to its announcement.
DriveWealth provides brokerage providers, together with 24-hour buying and selling and fractional share possession, to an ecosystem of B2B companions that features, amongst others, the direct-to-consumer private finance utility Revolut and, for a time, the startup custodian and clearing agency Altruist.
uMINT, a Tokenized Cash Market Funding Fund, Introduced by UBS
UBS Asset Administration lately introduced the launch of its UBS USD Cash Market Funding Fund Token (uMINT), constructed on Ethereum distributed ledger expertise.
The large worldwide agency, with greater than $5.7 trillion in managed property, has been increasing its digital asset capabilities providing by way of UBS Tokenize, its in-house tokenization service.
UBS joins BlackRock KKR, Hamilton Lane and plenty of different corporations in rolling out tokenized funds this yr.
