Some 1,800 advisors at broker/dealer Waddell & Reed will now have access to the eMoney financial planning platform. The firm has tapped eMoney Advisor's emX Pro to provide wealth planning capabilities and a stronger digital experience for clients. The move is part of Waddell & Reed's ongoing effort to integrate several different technology providers; in February, the firm announced partnerships with Envestnet and Docupace. "With emX Pro, we offer advisors the opportunity to build deeper, more collaborative client relationships, expertly plan investment portfolios and deliver sound financial advice while helping them make sense of their business' big picture, including a view of assets held away," said Ed O'Brien, CEO of eMoney, which was acquired by Fidelity in February 2015.
Folio Institutional Beefs Up MMX Platform
Folio Institutional added 31 ETF and mutual fund models from Morningstar Managed Portfolios to its Model Manager Exchange on Wednesday.The firm said it wants to give RIAs more access to efficient, cost-effective portfolios. The models don't have a minimum account requirement, and advisors get access to 80 investment managers, 400 model portfolios and can simultaneously manage thousands of client accounts on Folio's trading technology. Advisors can use the models as they come or customize them for their clients. Folio Institutional's president, Greg Vigrass, said the addition to MMX, a network of third-party investment models, will help RIAs reduce costs and offer new solutions to satisfy the new fiduciary rule.
Pershing and Advicent Improve Integration
A new integration between Pershing's NetX360 and Advicent's NaviPlan financial planning software is intended to create a more seamless data flow between the two platforms. Pershing advisors can now launch NaviPlan from NetX360 and view data like client demographics, accounts and holdings from NetX360 within the financial planning tool. The companies said that this will ultimately save advisors time and reduce data entry errors when moving from one application to the other. "We are enabling advisors to focus on relationships with clients and their business growth - rather than spending extra hours on data entry," said Cory Olson, the director of global product management at Advicent.
Want The Daily Brief delivered directly to your inbox? Sign up for WealthManagement.com's Morning Memo newsletter.
