Welcome to the June 2025 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!
This month’s edition kicks off with the news that FinmateAI has announced a new integration with PreciseFP, which will allow financial planning data that’s collected in advisory meetings (like balance sheet, cash flow, and savings information) to be pushed out to PreciseFP, and from there be sent on to financial planning software like eMoney and RightCapital (and specialized planning tools like Income Lab and Holistiplan) via PreciseFP’s existing integrations – which represents one of the first steps by an AI meeting note tool to integrate with advisor technology outside of CRM and email platforms, and raises the question of whether more meeting note providers will follow suit (or build their own direct integrations to financial planning software rather than doing so indirectly through PreciseFP)?
From there, the latest highlights also feature a number of other interesting advisor technology announcements, including:
AdvicePay, a provider of client billing solutions for flat-fee advisors, has acquired AdvisorBOB, which helps RIAs efficiently calculate and facilitate payouts to their advisors, giving AdvicePay a solution that covers the entire client revenue cycle (from the time the client is billed until the fee is split and paid out to the advisor and RIA) and also covers a larger segment of the RIA market (since while AdvicePay only covers flat-fee billing, AdvisorBOB can handle payouts for both flat-fee and AUM models)
Betterment has acquired Rowboat Advisors, a direct indexing and tax optimization technology provider, as part of a broader push to serve higher-net-worth clients of financial advisors through more flexibility and tax-aware portfolio management features – although the question going forward is whether advisors will really want to bring their HNW clients to Betterment given its reputation as a platform best suited for less-complex clients (or whether it’s even a good idea for Betterment to diverge from its well established brand to compete with the likes of Addepar and Black Diamond)?
Zoe Financial has announced a $29.6M Series B fundraising round, highlighting how Zoe has found an effective way to monetize its ability to generate leads not only by referring them to advisors (for which advisors pay 15%-35% of the revenue that they earn from the leads who sign on as clients) but also by serving smaller clients itself (who otherwise wouldn’t be able to work with most of the firms on Zoe’s platform) via its robo-TAMP platform
Read the analysis about these announcements in this month’s column, and a discussion of more trends in advisor technology, including:
CFP Board has announced the launch of a new CFP Practice Exam App, a bank of AI-generated (and human-reviewed) practice questions for candidates studying for the CFP exam – which is helpful as an exam prep tool to either supplement or serve as a less-expensive alternative to other comprehensive review programs, but also raises questions about whether CFP Board intends to start competing with third party exam prep providers (which could quash competition in that space since most candidates would likely opt for the “official” CFP Board version)
Vanguard is testing out a new feature that allows advisors to generate client-friendly bullet-point summaries of Vanguard’s quarterly market commentary, including the feature of giving advisors several dropdown options to choose from to tailor the summary the way they want it (e.g., client’s financial acumen, age, and formal or conversational tone) – which is helpful for advisors who would rather not use an open-ended chatbot interface to generate client communication (which requires learning and practicing the prompts necessary to get the output that the user needs)
And be certain to read to the end, where we have provided an update to our popular “Financial AdvisorTech Solutions Map” (and also added the changes to our AdvisorTech Directory) as well!
*To submit a request for inclusion or updates on the Financial Advisor FinTech Solutions Map and AdvisorTech Directory, please share information on the solution at the AdvisorTech Map submission form.
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