The latest technology news in the wealth management sector from around the world.

intelliflo
intelliflo a fintech business owned by Invesco, has added an “institutional-level rules compliance engine” to its portfolio rebalancing and trading platform.

The offering is targeted at RIAs.

“We’re giving RIAs [of] all sizes the power to efficiently implement compliance like never before, reducing risk, saving time, and ultimately driving success,” Jennifer Valdez, president, Americas for intelliflo, said.

Over the last year, intelliflo redblack – as the platform is called – has introduced advanced tax management capabilities, cash and wash sale management options and overhauled its order management system. The firm says that more than a quarter of the top 50 largest RIAs in the US, as ranked by assets under management, use intelliflo redblack. (A “wash sale” is when a security is sold at a loss for the tax benefits and when someone then turns around to buy the same or a similar security.)

With offices in a number of countries (the US, Australia, India, and the UK), intelliflo solutions support more than 30,000 financial advisors worldwide, representing over three million end investors, with over $1 trillion serviced across its platforms.

SEI, Canoe Intelligence
US-headquartered SEI has expanded its relationship with Canoe Intelligence to give family offices more tools for alternative investments such as private equity, venture capital and hedge funds. The collaboration is designed to benefit users of the SEI Archway Platform.

The firms’ combined offerings are designed to help single-family offices that have traditionally been hobbled by dated and manual data management workflows, also increasing risks of making mistakes.

The new integration with Canoe automates the transmission of private equity and hedge fund valuations, as well as private equity capital call and distribution data, for SEI Archway Platform users.

SEI and Canoe cited data showing that global alternative assets are expected to hit $23 trillion by 2027. Family offices allocated 42 per cent of their investment portfolios to alternative assets in 2023.

The enhanced partnership enables the following developments: automated fund and allocation-level data gathering; improved processing of alternative asset pricing and capital transactions; and streamlined alternative investment reporting processes. 

"As family offices and wealth managers increase their allocations to alternatives, they need technology that paints a more detailed, accurate picture and provides greater control over investment document workflows,” Mike Muniz, chief revenue officer at Canoe Intelligence, said.

Since the firms began their collaboration, Canoe has processed more than 150,000 documents for SEI's clients and positioned 24 mutual clients to automate data transmission across more than 3,400 alternative investments.