Welcome to the May 2026 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 Morningstar is selling the client account aggregation data provider ByAllAccounts, becoming the latest AdvisorTech platform to offload a data aggregator that it acquired in the mid-2010s (following Envestnet’s sale of Yodlee last year) – which yet again highlights the frustrating inability of data aggregation technology to live up to its promise of seamless real-time visibility into clients’ financial lives (or to provide “big-data” business insights that justified the massive price that AdvisorTech platforms paid for them)
From there, the latest highlights also feature a number of other interesting advisor technology announcements, including:
The AI prospecting technology provider FINNY has launched a new AI tool, dubbed “Hunter”, that aims to automate outreach and campaigns for both inbound prospecting and outbound marketing – marking an expansion from FINNY’s original focus on just the outbound prospecting side of business growth (which was arguably necessary to expand its market beyond the relative handful of advisors who use outbound prospecting as a primary growth channel)
All-in-one platform Advisor360 has announced that it is partnering with the financial planning software provider Conquest Planning to embed Conquest’s software directly within its platform for one bundled subscription fee, which on the one hand gives Advisor360 users one more tool to use within Advisor360’s all-in-one ecosystem, and on the other hand gives Advisor360 another rich data source to feed into its “Unified Data Fabric” for AI Agents to run on
Wealth.com has announced a new $65 million Series B fundraising round in the wake of its recent expansion beyond “only” estate planning into tax, raising questions about whether it plans to expand further into other specialized planning categories like equity compensation or retirement income planning – or even into a full-blown financial planning (plus CRM?) platform
Read the analysis about these announcements in this month’s column, and a discussion of more trends in advisor technology, including:
The startup advisor phone and texting system provider CurrentClient has announced a $1.25 million seed funding round, showing that there is an appetite among advisors (and investors) for a unified business phone and (compliant) texting solution, whereas most previous solutions focused on either one or the other
Several RIAs have recently announced large investments into data infrastructure and AI agents to streamline their operations and reduce overhead costs, which raises questions about how much additional efficiency can actually be achieved through AI and whether it’s enough to justify the investment – especially when off-the-shelf solutions from third-party providers may be able to do the job nearly as well at a fraction of the cost?
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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