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LPL Rolls Out New Model Wealth Portfolio Platform Feature: Tech Roundup

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As more compliance standards and requirements keep coming from the U.S. Department of Labor and Securities and Exchange Commission, BIPA was developed to help advisors propose portfolios that best match their clients’ needs, document the source of funds, and, if needed, complete a rollover assessment, Riskalyze said.

The assessment can be enabled on Riskalyze Enterprise Select or Riskalyze Enterprise Elite customer accounts and allows clients and advisors to document the specifics on qualified account rollovers for 401(k)s, 403(b)s and more, it said.

By using BIPA, advisors can archive proposals and rollover assessments and deliver those results in PDF or printed reports, Riskalyze added.

Seismic Achieves Milestone

Seismic said Wednesday it surpassed $200 million in its annual revenue run rate and grew active users 45% over the prior year.

The company, which provides sales enablement technology to some of the largest U.S. asset and wealth management firms, as well as leaders in banking and other key sectors, finished its best first quarter to date, adding more than 50 new customers, it said.

In Europe and Asia-Pacific, Seismic recorded 182% year-over-year sales growth and recently named Heather Cook as vice president of APAC to head its expansion in Australia, New Zealand and other Asian markets. The company also filled key executive positions over the past year, including its first chief product officer, and boosted global headcount by 200 for a total of more than 1,000 employees globally.

In September 2020, Seismic raised $92 million in a Series F funding round for a total of $270 million raised to date. In December, the company acquired Grapevine6, a social sales engagement solution now known as Seismic LiveSocial.

AdvisorPeak Appoints Chief Strategy Officer

AdvisorPeak has appointed Mark Hollingsworth its chief strategy officer, a newly created senior management role at the company.

He also joined the company’s board of directors in March, according to his LinkedIn profile.

Hollingsworth brings over 35 years of experience in investment management and financial services. He has held numerous industry positions, including founder and CEO of NEXT Financial Group, a national independent broker-dealer and RIA he grew from 2 to over 1,200 employees, and various executive positions in wealthtech firms including Riskalyze and FinMason.

AdvisorPeak’s trading and rebalancing platform currently serves more than 1,000 financial advisors, it said.

PFI Advisors Launches New Digital Consulting Platform

PFI Advisors launched The COO Society, a new digital consulting platform it said was designed to “provide RIAs of all sizes the resources they need to achieve their strategic growth goals while maintaining and improving the high level of service their clients have come to expect from them.”

By promoting and educating professional managers across the sector, The COO Society will “enable firms to grow and sustain profitability by allowing RIA owners to focus on high-level strategy, while empowering their teams to execute that strategy by leveraging both people and technology,” according to PFI.

The new service will be available to all RIAs, who will be able to leverage the industry training on their own schedules, from the comfort of their homes or offices, PFI said.

The new platform focuses on three multi-course “learning paths”: technology, human resources and business administration, which PFI said serve as valuable training for anyone from a new client service associate to a veteran COO.

PFI offers a wide variety of services supporting RIA owners and their operations professionals on an individual basis. Since launching in 2015, PFI it has worked closely with operations professionals at 65 RIAs collectively managing more than $230 billion in assets to help them manage their growth, the company said.