Andrew Foerch

3 days ago | citywire.com | Andrew Foerch |Sam Bojarski |Ian Wenik |Jeff DeMaso

RIA tech giant Orion has hired an executive to oversee its technology strategy. The firm said on Wednesday that it hired Valli Nachiappan to serve in the chief technology officer role, where she will also help modernize the company’s technology architecture and deliver emerging technologies, including artificial intelligence, to advisors. She brings to the role over two decades of work experience, largely in software engineering.

1 week ago | citywire.com | Tania Mitra |Ian Wenik |Sam Bojarski |Andrew Foerch

Annuities marketplace Fiduciary Exchange (FIDx) has sold a stake in itself to asset managers Franklin Templeton and Invesco as part of a new funding round. Insurance and asset management firm Prudential Financial — an existing investor in FIDx — led the funding round. Axonic Insurance Services, a designer and marketer of annuities, also participated. Specific financial terms of the deal were not disclosed. Already have an account?

2 weeks ago | citywire.com | Andrew Foerch |Tania Mitra |Sam Bojarski |Alec Rich

Will a portfolio manager’s mutual fund track record help win approval for an active ETF? When will funds with ETF share classes show up on shelves? Are private market ETFs the next big thing or a flash in the pan? Leading gatekeepers answered these questions, and more, at Citywire’s ETF Forum in New York City on Tuesday. In case there was any doubt, active ETFs are the vehicle du jour at wealth management firms. Already have an account?

3 weeks ago | citywire.com | Andrew Foerch

While independent RIAs are adopting artificial intelligence (AI) at a steady rate, new data suggests banks and trust companies are lagging increasingly far behind. A study published this week by wealth technology consultancy F2 Strategy found that 74% of wealth management respondents are currently using AI, a percentage which has risen 23% over the last two years.

3 weeks ago | citywire.com | Sam Bojarski |Tania Mitra |Andrew Foerch |Ian Wenik

If step one of bringing private assets to the wealth space was product development, KKR is ready to steam ahead on step two: scaling. When Doug Krupa, the firm’s head of global wealth solutions in the Americas, joined the firm six years ago, the US business had only five employees; that has grown to about 70 today. Globally, there are more than 100 personnel dedicated to wealth. KKR’s wealth AUM via its K-series is $22bn.