Also, CAIS launches a “new trading experience,” Choreo and Smartleaf team up on automated tax tools, Milemarker adds new features and more.

Davis Janowski | Dec 06, 2024

The large turnkey management platform company AssetMark, which recently went private, announced this week the close of its acquisition of Morningstar Wealth’s TAMP assets. This transaction brought approximately $12 billion of assets to the AssetMark platform, which is now owned by private equity firm GTCR.

CAIS Rolls Out Streamlined Trading Features for Alts 

Alternative investment platform CAIS launched several new trading capabilities for the more than 2,000 wealth management firms it works with.

Related: Boosted.ai, Building Agentic AI for Wealth Managers, Raises $15M

The key features of this “new trading experience” include a more user-friendly, intuitive, guided transaction workflow for the subscription process, a more streamlined transaction initiation process requiring only the most essential information and less data entry, more flexibility in account creation that can now be initiated in multiple stages along the pre-trade process, and improved management of accounts within households.

Choreo Tax Advantage Developed With Smartleaf

The large RIA Choreo, which has more than 40 offices around the country and $24 billion in AUM and AUA, has partnered with Smartleaf on a specialized suite of automated tax tools.

Related: Range Raises Another $28M In Effort to Replace Financial Advisors

Called Choreo Tax Advantage, the automated and customizable tools are meant to assist advisor-CPA collaboration (something Choreo is known for) with daily tax impact assessment and management of client portfolios.

Software-as-a-service platform provider Smartleaf helped develop the tools, the core features of which include automated daily account review and recommendations, optimized after-tax performance through several screening methodologies, strategic gains deferral, strategic loss harvesting, tax and gains budgeting, tax-minimized rebalancing and direct-indexing.

Conquest Planning Crosses 1-Million-Plans-Created Mark

Conquest Planning, the AI-powered financial planning application launched by Mark Evans in 2018, has now surpassed 1 million financial plans.

Evans, the creator of NaviPlan (which is now owned by InvestCloud), first introduced the new software to the U.S. advisor market in 2020. It has a growing presence in Canada, where it launched, as well as the United States and the United Kingdom, and has earned various accolades, including being named one of 10 companies to win the Manulife/World Economic Forum’s Prospering in Longevity Challenge.

Milemarker Adds New Features, Including Automated Technology Audit

Milemarker, which in September launched its Firm Intelligence all-in-one data platform and hinted at new features and enhancements being rolled out over the coming months, announced this week the addition of an automated technology audit, among other things. The audits help a firm assess its tech stack and identify where it makes the most sense to optimize and integrate data, and in conjunction with the company’s data strategy roadmap capabilities, a firm can create a clear plan aligned to best achieve business goals.

Smarsh Launches Email ‘Echo Cancellation’ to Remove Redundant Content

This new feature available within Smarsh’s Professional Archive product filters the “echoes,” or repeated email content, in threads to reduce overall supervision queues and save time for compliance officers. It has built-in technology to prevent errors or false positives.