Akoya is currently Fidelity’s data-sharing arm but now will become its own company, owned by Fidelity, The Clearing House and...
This week, we put on the Goldman hat and go shopping for companies. We buy a little bit of Folio and sell some Motif. We look at Personal Capital and the $1 billion it wants for its $12 billion of assets. We examine the private markets with Addepar / iCapital and SharesPost / Forge, and then move over to the banking sector. Should we buy Wells Fargo, as rumored, or some digital wallet apps? Read on for how to acquire a best-in-class Fintech.
This week, I pause to reflect on the sales of (1) AdvisorEngine to Franklin Templeton and (2) the technology of Motif Investing to Schwab. Is all enterprise wealth tech destined to be acquired by financial incumbents? Has the roboadvisor innovation vector run dry? Not at all, I think. If anything, we are just getting started. Decentralized finance innovators like Zapper, Balancer, TokenSets, and PieDAO are re-imagining what wealth management looks like on Ethereum infrastructure. Their speed of iteration and deployment is both faster and cheaper, and I am more excited for the future of digital investing than ever before.
There has been a lot of discussion in the last few years about blockchain technology and its potential impact on...
Virtual reality-based services are beginning to have their moment with the pandemic continuing to wreak havoc across the globe; the...
The wealth management industry has gone through a host of changes in recent years and now fractional share trading has...
Making news this week was the CFPB director testifying before both the Senate and House, Fidelity will allow bitcoin in 401(k) plans, Robinhood had a bad week, the OCC is talking stablecoins, Goldman created a lending facility backed by bitcoin and more.
Cambridge announced a joint research effort between the Cambridge Center for Alternative Finance and 16 private sector leaders.
Fidelity’s chief executive Abigail Johnson spoke about the company’s current projects involving cryptocurrency at the Consensus conference; they have made venture investments and are also looking at applications of blockchain technology; Fidelity has set up a mining operation which is making money for the company. Source
Well this morning started out as a bit of a bummer! See -- Charles Schwab to buy TD Ameritrade in a $26 billion all-stock deal. The $55 billion market cap Schwab is gobbling up the $22 billion TD Ameritrade at a slight premium. Matt Levine of Bloomberg has a great, cynical take on the question: Schwab lowering its trading commissions to zero is actually what wiped out $4 billion off TD's marketcap a few months ago. For Schwab, the revenue loss from trading was 7% of total, while for TD it was over 20%. Once Schwab dropped prices, TD started trading at a discount and became an acquisition target. You can see the share price drops reflected below in the beginning of October.