Winners lay out how they are standing out as tech providers
The wealth management industry has increasingly embraced the benefits of advancing tech tools, but not all tech providers produce the same results. That’s why Wealth Professional meticulously searched the fintech and software industry to determine this year’s 5-star Wealth Tech Providers.
Successful fintech providers were able to appeal to wealth management firms by providing back-office efficiency, while also creating technologically superior products to replace legacy core platforms.
Providers see the tech-hungry wealth management industry as an area for continued growth, and the best in this sector have been able to offer simple, all-encompassing services to improve workflow capabilities for financial advisors. FinTech Global found that funding for Canadian fintechs grew to $2.2 billion in 2024, a 34 per cent increase from 2020.
Ali Zahedi, CEO of Infinite Investment Systems says its flagship Harmony product creates an all-encompassing platform that allows wealth planners to effectively streamline the process of daily tasks such as performance measurement, regulatory reporting and trading and order management.
Zahedi believes there is plenty of room for growth in the services Infinite provides andis looking to expand on its capabilities within the next year to ensure its products remain top class.
“We’ve got a lot of initiatives to push forward again with our comprehensive reporting in engine and data management solutions,” says Zahedi. “We are actively looking at certain acquisitions that we believe will be strategically beneficial. We believe bringing some of these businesses together is going to be better for the clients, better for the teams, and result in a more comprehensive offering.”
Joel Emery, co-founder and CPO of Charli Capital, says that with every sector looking at how to best implement AI, Charli Capital has had to constantly remain on its toes to stay ahead of its competitors.
“It’s frustrating that now three quarters of the world are AI experts. But on the positive side, it also brought a lot of momentum as all of a sudden, every CEO in the world wants an AI agenda,” says Emery. “We’ve been able to capitalize but have had to work extra hard on our positioning and messaging to make sure people don’t see us as another chatbot.”
Rather than just using AI to complete tedious paperwork, Charli Capital has leveraged AI’s capabilities to analyse over 100,000 public companies across the globe and 75 million private companies in North America, while it also uses hundreds of AI models to guide the companies buying, selling and holding decisions.
“What differentiates us is we solve the hard problems first,” says Emery. “A lot of applications have embarked on the AI wave and they add some capabilities that interact with the AI, which most of the time is a search or generation tool. But we have AI at the core and that’s why we can scale to our levels.”
As for Objectway, a software and service platform that regulates wealth management and asset management services, the firm’s identity is one based around a culture of shared goals, trust, respect and sense of belonging.
“We stand out due to a combination of our deep domain expertise, flexible solution model, and our meticulous detail toward creating a partnership delivery model that ensures transparency, strong governance, and on budget outcomes,” says Luigi Marciano, Objectway Group’s CEO.
The firm aims to introduce different types of solutions based on large language models (LLMs), which will upgrade how Objectway’s clients and their end clients interact with the applications.
Creating plug-and-play AI tech will be the most effective fashion to spread the benefits of AI tech across the financial planning world, according to EY’s Kumar Srinivansan, who emphasizes the importance of flexibility and scalability to reaching a wide array of advisors looking to access the ever-evolving technology.
“What will create an impact is, as we are getting into adopting AI, if platforms are coming as close to plug-and-play as possible,” says Srinivansan. “Instead of customizing it to every ecosystem, if there are certain use cases which can be applied across the industry that will increase the overall adoption.”
To view the full list of providers, click here.
