Digital Wealth: $1.9T AUA platform Orion acquires $6B OCIO firm TownSquare
Digital Wealth: $1.9T AUA platform Orion acquires $6B OCIO firm TownSquare
Outsourced CIO firm TownSquare joining the Orion family, deepening the wealth management platform
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We have re-organized the sections below to more quickly highlight top news per region. Let us know what you think by replying to this email or commenting below!
North America News
⭐ 🇺🇸 Orion To Acquire TownSquare Capital And Expand Its Wealth Management Operations - Businesswire, May 10, Nebraska
Orion has been making substantial progress over the years, including the recent Redtail CRM acquisition, towards becoming an Envestnet-sized competitor in wealth platforms. Consolidation is the industry trend, and Orion is a core platform.
🇺🇸 D-ETF Secures $50 Million Prior To Public Sale - Blockworks, May 10, New York
🇺🇸 Griffin Capital Partners With iCapital To Make Qualified Opportunity Zone Fund Investment Offerings More Accessible To Financial Advisors And Their Investors - Fintech Futures, May 11, California
🇺🇸 KeyBank Expands Further Into Digital Space After Buying Fintech GradeFin - Seeking Alpha, May 9, Ohio
🇺🇸 Jack Henry And NYDIG To Offer Bitcoin Services To Financial Institutions - Yahoo Finance, May 10, Missouri
🇨🇦 DeFi Technologies' Wholly-Owned Subsidiary Valour, SEBA Bank And MVIS Launch The SEBA VALOUR Metaverse Index - PR Newswire, May 9, Toronto
🇺🇸 Yieldstreet’s Crypto Wallet Helps Investors Store And Convert Bitcoin And Ethereum - Yahoo Finance, May 11, New York
🇺🇸 CFPB Invokes “Dormant” Authority To Examine Wide Range Of Companies That Pose Risks To Consumers - Davis Polk, May 10, Washington D.C.
EMEA News
⭐ 🇨🇭 HCL Technologies To Acquire Digital Banking And Wealth Management Specialist Confinale - Businesswire, May 9, Zurich
We find this notable due to the consolidation of two large integrators of the Avaloq platform. That speaks to the importance of horisontal combination in professional services, as well as the role of software products vs. integrators. Also interesting to compare this to US market structure, where technical implementation is more inhouse to the software firms, or within the financial incumbents.
⭐ 🇬🇧 UK Fintech Start-Up Tumelo Raises $19MM Series A - Fintech Futures, May 11, Bristol
What do your clients really own, and how does it motivate them? There is a lot to learn about generating community and engagement from simple information sharing. Information is really step *zero*.
🇯🇪 Jersey Firm Unveils Digital Investment Platform - International Adviser, May 11, St. Helier
🇬🇧 Levine Leichtman Capital Partners Invests In GLAS In Partnership With Founders and Management - Yahoo Finance, May 11, London
🏴 New Glasgow-Based Trading App Strikes Prepares For Launch - Fintech Futures, May 10, Glasgow
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Asia Pacific News
⭐ 🇮🇳 CASHe Enters Wealthtech Space With Sqrrl Acquisition - VCCircle, May 10, Mumbai
All these trends are global. From the article: Sqrrl provides mutual fund investing, goal-based investment, tax saving plans, round-up investing or micro-investing, and fixed deposit. CASHe is a digital lending platform, it provides BNPL products, and has registered over 20MM app downloads, and 1.4MM active users.
🇻🇳 Vietnam-Based Investment App Finhay Said To Raise $25MM Funding - Deal Street Asia, May 6, Hanoi
🇮🇳 Wealth Management Startup AssetPlus Secures Investment To Help Customers Manage Investments Better - Inc 42, May 11, Chennai
🇮🇩 Indonesian Unicorn Ajaib To Ramp Up Stake In Bank Bumi Arta To Over 50% - Deal Street Asia, May 11, Jakarta
🇮🇳 Wealthtech Platform 'BHIVE.fund' Raises Strategic Investment From Nikhil Kamath's Gruhas, Blume - ANI, May 9, Bengaluru
🇸🇬 Temasek Subsidiary Fullerton Tokenises PE Fund Of Funds On ADDX - Hubbis, May 12, Singapore
🇮🇳 Indian Bank Unveils Digital Broking Solution - The New Indian Express, May 7, Chennai
Blogs, Webinars, Podcasts
⭐🇺🇸 Millennials Turning To Advisors As They Approach Middle Age - Napa, May 9, Virginia. Check out the full report from Natixis here.
The question of whether Millennials will use advisors once their financial situations get more complex is starting to have answers. Check out the report.
🇺🇸 Wealthtech Addepar Aims To Simplify The Tech Stack By Helping Clients Build With Integration Center - Crowdfund Insider, May 11, California
🇸🇬 SFA Wealthtech Committee: Interview With Syfe’s Laurens Koppelaar - Syfe, May 10, Singapore
🇺🇸 Grayscale Tells SEC That Turning Biggest Bitcoin Fund Into ETF Will Unlock $8 Billion For Investors - CNBC, May 11, New York
🇲🇾 HSBC Raises The Digital Game - TheStar, May 9, Kuala Lumpur
Events & Reports
🇨🇱 Chile Fintech Forum 2022 - FinteChile, May 17-20, Virtual
🇪🇺 35. FinTech Meetup Europe - Decentralized Finance - FinTech Meeting Europe, May 19, Virtual
🇸🇪 Fintech In Africa: Deepening Financial Inclusion & Investment Opportunities - Investure, May 19, Virtual
🇺🇸 FinTech Venture Fair - KiwiTech, May 25-26, Virtual
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