Amidst the tidal wave of latest AI-powered purposes and providers out there to advisors and the remainder of the world, it may 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 completed 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 know-how subsequent week, Nov. 12-13. Attendance is free; you simply have to register.
The occasion will current velocity demos from 20 advisor know-how companies and host six keynote audio system.
Along with showcasing a variety of advisor know-how, the sponsorship proceeds raised in the course of the two-day occasion can be contributed to Philly Phinancial Literacy Week Inc., a company devoted to increasing entry to financial sources 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 supply 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).
Via the combination, advisors who use Pontera to handle their shoppers’ 401(ok) accounts can streamline their billing.
BillFin supplies RIA companies with a complete billing resolution, from calculating advisory charges (flat, tiered or banded AUM). It might probably match most methods a agency already payments its shoppers—upfront or in arrears—based mostly on a number of parameters corresponding to the tip of the interval, with flows or common each day steadiness. There may be 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 broaden its platform to supply European securities in addition to present a “follow-the-sun” 24/7 service mannequin constantly throughout time zones, in response to its announcement.
DriveWealth affords 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 software 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 not too long ago introduced the launch of its UBS USD Cash Market Funding Fund Token (uMINT), constructed on Ethereum distributed ledger know-how.
The enormous 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 companies in rolling out tokenized funds this yr.
