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Top 6 companies redefining the world of WealthTech in America’s

By Pavithra R

August 21, 2020

  • Addepar
  • Canada
  • Investcloud
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WealthTechWealthtech is a portmanteau word combining wealth and technology and is one of the subsections of FinTech. The technology unites wealth and technology to provide digital solutions to enhance personal wealth management,  investment, and asset management industry.

The increasing adoption of big data, AI, methods to identify and quantify risk, algorithm-based investments, and platforms for users to analyze and optimize their portfolios have revolutionized the asset and wealth management industry. Here is a list of top 6 companies redefining the world of WealthTech.

Addepar (2009)

HQ: United States

Addepar was started in 2009 in the wake of the last financial crisis with the goal of creating a more transparent financial system. The FinTech provides a wealth management platform that specializes in data aggregation, analytics, and performance reporting. Addepar easily and continually aggregates all financial accounts and investments and enhances them with relevant market and third-party data to provide users with a consolidated view of their clients’ wealth across institutions.

According to company data, Addepar has tracked over $2T assets, processes $1.5M custody accounts daily and 400+ clients in more than 14 markets around the world. The firm has raised $245.8 million in funding to date.

Wealthfront (2011)

HQ: United States

Wealthfront provides an automated investment management platform that allows investors to create and manages personalized, globally diversified investment portfolios at a lower cost.  Its ultimate vision is to provide Self-Driving Money. Wealthfront provides a nextgen banking service that helps young professionals optimize their savings. The FinTech provides no-fee banking and low-cost investment management through its mobile app. It has raised $204.5 million in funding to date.

InvestCloud (2010)

HQ: United States

California-based InvestCloud develops first-class financial digital solutions, pre-integrated into the cloud. The WealthTech creates beautifully designed client experiences and intuitive operations solutions using an expanding library of digital modular apps. The company has a total funding of $54.1 million.

It supports more than $2 trillion of assets for over 700 clients, supplies digital solutions pre-integrated into the cloud to companies operating across the entire investment management value chain. With offices throughout North America, the company has also extended its presence to India and the United Kingdom (UK).

Moka Financial Technologies (2017)

HQ: Canada

Moka (previously Mylo) is on a mission to help people achieve their financial goals. The recently announced its strategic plan to expand across Europe, with its first launch in France. The firm is leveraging AI and human expertise to help reduce expenses, accelerate debt repayment, provide financial coaching, and deliver valuable cashback rewards. To date, the company has raised $14 million in funding.

Finmason(2013)

HQ: United States

FinMason is a data redistribution and provider of investment analytics engines for financial services platforms. The WealthTech firm provides access to more than 700 calculations on every publicly traded asset in the world delivered through a simple API.  Its API is built from the ground up to deliver world-class analytics to any firm developing FinTech or WealthTech quickly and at-scale.  To date, the company has raised $6.5 million in funding.

Responsive.AI (2015)

HQ: Canada

Responsive is a hybrid wealth advisor solution for banks and private managers. It provides enterprise software that empowers advisors, engages clients, and augments decision making. The firm focuses on boosting advisor productivity with human-centric AI.

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