Ex-TD Ameritrade Exec Joins Robinhood: Tech Roundup
What do you want to know
- Concourse Financial Group Securities has selected the SmartAdvisor platform as its first external lead generation service.
- SEI launched Digital Account Open and Digital Model Management for Independent Advisors.
- Apex Fintech Solutions has acquired PDQ Enterprises.
Steve Quirk, formerly of TD Ameritrade, is joining Robinhood Markets as the first chief brokerage officer to oversee brokerages Robinhood, Robinhood Financial and Robinhood Securities, effective Jan. 10, Robinhood said Thursday in a blog post on its site. website.
Quirk “will help us scale our products and services efficiently and securely, so we can help more people start their investing journeys,” according to Robinhood.
He previously served as Executive Vice President of Trading at TD Ameritrade, overseeing the strategy and deployment of initiatives for trading. He was also a member of the company’s senior operating committee.
Quirk was also formerly responsible for the development of new trading tools and technology enhancements for the thinkorswim trading platform. He had been with TD Ameritrade since 2007, according to his LinkedIn profile.
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SEI deals a fatal blow to on-paper integration
SEI on Wednesday announced the launch of Digital Account Open and Digital Model Management, two new technology enhancements for Independent Advisors through the SEI Wealth Platform.
“Digital Account Open simplifies the process of opening a new customer account, expanding SEI’s current e-onboarding and e-signature process with a new, easy-to-use, end-to-end tool,” he said. “The technology is designed to eliminate the traditional paper-based process and allows advisors to open client accounts completely digitally.”
Features include: a step-by-step workflow to guide the entry process; Adaptable onboarding, from launch to collecting an electronic signature, and the ability to pause and save progress or assign responsibilities to other authorized team members; a built-in process to detect input errors and help avoid “non-compliant” submissions; and a dashboard with pending accounts, work in progress and more.
Digital Model Management, on the other hand, gives advisors a digital way to deploy and interact with client portfolios, all within a unified managed account framework, SEI said. “The cloud-native application allows advisors to customize client portfolios based on their financial goals, risk tolerance, tax and fee preferences, and more,” according to the company.
Features include a dashboard for creating and adjusting investment models across all types of investment strategies, including mutual funds, ETFs, and SMAs; smart workflows with intuitive setup that follows the relevant steps for each investment change; and a digital interface presenting an overview of the impact of any investment change on costs, risks and more.
As of September 30, SEI manages, advises or administers approximately $1.3 trillion in assets.
Concourse selects SmartAdvisor for leads
Concourse Financial Group Securities has selected SmartAsset’s SmartAdvisor platform as its first external lead generation service, making it available to Concourse’s network of more than 500 advisors and brokers, the companies said in a joint announcement Thursday.