Here are the links to today’s stories:
XY Planning Network serves 600 member advisers via Twitter
Tamarac Clients Exceed $1 Trillion in Collective Assets Managed from Tamaracinc.com
Morningstar expands ratings for U.S. mutual funds with Quantitative Ratings for Funds via Twitter
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XY Planning Network Crosses 600 Members
Several big milestones were crossed in the last few days, with the XY Planning Network leading off with its announcement that the organization now serves 600 members as a part of the fee-only, fiduciary financial planning network. Founded in 2014, the XY Planning Network provides turnkey technology, compliance, marketing support and business coaching to financial planners looking to serve Gen X and Gen Y clients, many of whom offer financial planning on an hourly basis or a low-cost retainer without requiring substantial assets in a portfolio.
Envestnet | Tamarac Clients Exceed $1 Trillion AUM
Also crossing another milestone is Envestnet | Tamarac, as the portfolio management, reporting, client portal, trading and CRM software provider recently surpassed $1 trillion dollars in collective assets under management among all the financial advisers that use the company’s technology. According to a recent press release, over one-third of registered investment advisory firms that manage $1 billion dollars are using the Envestnet | Tamarac solution, and the company says it maintains a renewal rate of 97% among its clients as a result of the company’s ongoing support, training, and consulting.
Morningstar Launches Quantitative Rating for Funds
And for a new milestone in mutual fund research, Morningstar just announced that the company has launched the Morningstar Quantitative Rating for funds, which generates ratings of Gold, Silver, Bronze, Neutral, or Negative for mutual funds based on a large set of quantitative factors like fund fees, manager tenure, firm success, and much more. Historically, Morningstar has generated Analyst Ratings for mutual funds, but the number of ratings has been limited by the size of the Morningstar analyst team. The Quantitative Rating uses machine learning models to apply the analyst’s decision-making process to the list of funds not covered by the analyst team, which allows the company to generate ratings on six times more mutual funds in the United States market.
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I’m Bill Winterberg, and those are your fintech headlines for today from FPPad.com. Check back in with me later for more fintech news.
