Adviser Product Partnerships

Lincoln Financial expands employer wellness offers to student debt management; Docupace brings new productivity toolkit for advisers; digital bank Green Dot adds cash account from Wealthfront; and more.

Lincoln Financial Expands Wellness Offering to Student Debt Management

Lincoln Financial Group’s Workplace Solutions business has expanded its financial wellness program with a new marketplace that connects individuals with partner companies that offer solutions to help improve financial wellness, according to a press release.

The first partner wellness provider that will be available to employees is Candidly, a student debt management platform intended to help employees and their families tackle student loan debt as well as savings. Candidly offers users options to plan, borrow, repay and reassess their debt, and provides support and assistance with federal student loan forgiveness programs and applications.

The financial wellness platform’s expansion adds to Lincoln Financial’s propriety financial wellness tool, WellnessPATH, which gives users a holistic financial picture along with a personalized plan of action. With the integration of the marketplace in 2023, users can now access third-party financial solutions and resources in one aggregated platform, according to the Radnor, Pennsylvania-based firm.

“The resources and solutions that will be available through our new financial wellness marketplace, beginning with our newest partnership with Candidly, will offer employers a significant opportunity to improve employees’ financial health through every life stage, while also strengthening their business by helping them attract, retain and engage top talent,“ James Reid, executive vice president, president, Workplace Solutions, Lincoln Financial Group, said in a press release.

Docupace Launches Productivity Toolkit for FAs and RIA Firms

Fintech software provider Docupace announced an RIA Productivity Suite designed to optimize operations for advisory firms of all to digitize, streamline, connect and automate operations, the Los Angeles-based company said in a press release.

Docupace said it developed the suite in consultation with Cherry Hill, New Jersey-based wealth management technology firm Ezra Group with the goal of meeting registered investment advisers needs in a cost-effective way. The overall goal is a platform that gives RIA firms the ability to reduce operational costs, improve efficiency, attract top-tier talent, strengthen recruiting, and enhance the client experience, according to the company.

The features include:

  • New account opening and simplified new client onboarding 
  • Workflow engine with automated, rules-based data validations and work item status dashboard by contact 
  • Forms library & bundlingADV form management and storage and dynamic processing 
  • Digital organizer of compliant document storage, indexing and retrieval
  • Embedded DocuSign solution and standard wet signature solution

Docuspace is headquartered in Los Angeles, California, and works with independent broker-dealers and registered investment advisers (RIAs) in the financial services industry.

Wealthfront Adds Cash Account to Green Dot Digital Bank Partnership

Wealthfront, an automated wealth management provider, is extending its three-year partnership with Green Dot Corporation by adding its Cash Account to Green Dot’s platform, the two firms said in a press release.

Green Dot, a digital bank and payment solutions company, partnered with Wealthfront in 2020 to offer a checking account through which users could receive direct deposits two days early, pay bills, and access cash at ATMs through a debit card.

Now, Green Dot customers will have access to Wealthfront Cash Account to earn interest on uninvested cash. The account can be opened with just $1 and comes with a 3.80% annual percentage yield, no account fees, and unlimited free transfers, according to the companies.

“Today’s investors want smart saving and investing products that help them build wealth in all market conditions, which is why we’re proud to offer the Cash Account to help our clients earn more on their uninvested savings,” Dave Myszewski, VP of Product at Wealthfront, said in the release.

Palo Alto-based Wealthfront said it has seen growth on its platform as millennial and Gen Z investors look for digital saving, investing, and borrowing services. The firm currently oversees $30 billion in assets for 500,000 clients.

Austin-based Green Dot offers financial services to customers and businesses and has more than 90,000 retail distribution locations in the U.S.

RetirementInvestments Launches 7 Customizable Financial Calculators for Third-Party Websites

RetirementInvestments has launched seven new financial calculators to address financial areas including retirement, housing, capital gains, and cryptocurrency investing. The calculators can be embedded in publisher websites with no coding work for use by readers, the firm said in a press release.

The seven calculators, with links to sample them, are:

  • Retirement Calculator
  • Roth IRA Calculator
  • 401(k) Calculator
  • Home Affordability Calculator
  • Capital Gains Tax Calculator
  • Precious Metals IRA Calculator
  • Crypto IRA Calculator

The calculators are backed by research, mathematical formulas, and data, according to RetirementInvestments. They are designed to help users understand their financial situation before they make decisions regarding their finances. The calculators can be used on desktop, mobile, or tablet.

Miami-based RetirementInvestments provides strategies and resources to invest in and buy precious metals, cryptocurrencies, stocks, and real estate. They also offer resources to help users plan their retirement or protect themselves with life and disability insurance.

Concurrent Advisors Chooses Practifi for Wealth Management

Concurrent Investment Advisors has chosen Practifi as its wealth management platform for its recently-created independent advisers practice, according to a press release.

Through the partnership, Practifi will provide a customer relationship management system that will let Concurrent’s advisers automate workflows, access high-net-worth client records, and leverage business intelligence.

San Diego-based Concurrent announced in September it was restructuring as a multi-custodial, hybrid registered investment adviser. The firm’s website shows it is affiliated with financial firm Raymond James, with the release noting that the restructuring was taking place in phases into 2023.

Chicago-based Practifi is a single-point solution designed for team collaboration and a streamlined process that manages client work, as well as back-office tasks.

Concurrent currently serves advisers across the country and is restructuring as an RIA with multi-custodial relationships while building its own technology stack.

“The RIA model gives us the freedom to build our business hand-in-hand with the best technology partners in the space,” Concurrent Co-Founder, Nate Lenz, said in the release. “After an extensive process, we consider Practifi, a clear leader in the CRM space.”

Empaxis and EXL Join Forces to Help Wealth Management Firms Transform Their Operations

Wealth and asset management operations firm Empaxis is partnering with data and analytics company EXL to help automate office operations for wealth management firms, according to a press release.

El Segundo, California-based Empaxis, which provides managers with middle- and back-office operations including automation and outsourcing, will work with EXL to create new ways of streamling workflows and automating tasks. The partnership will provide wealth managers with tools to increase productivity, automate manual processes, and cut unnecessary expenses, the firms said.

“By combining our two businesses, we can provide our clients end-to-end support services that will help streamline their operations to gain a competitive advantage,” Narasimha Kini, executive vice president and Head of New York-based EXL’s Emerging Business, said in the release.