Take one have a look at Michael Kitces’ newest map of the monetary advisor know-how house, and you will discover how crowded it is getting. What advisors as soon as did with pencil and paper after which Excel spreadsheets is now being dealt with by a number of CRMs run with synthetic intelligence by way of a number of APIs.

Nonetheless, as a lot because the panorama is rising, there’s been a development towards consolidation of all of these disparate platforms into larger organizations. 

For instance, UBS introduced this 12 months that it was buying robo advisor Wealthfront, a monumental deal that may have given one of many largest advisor forces on the planet entry to one of the profitable robo advisors (and their purchasers). However in September, the deal fell aside. 

Orion’s deal to buy the CRM supplier Redtail additional solidified that fintech firm as one which more and more is taking on advisors’ desktops. 

Click on by way of the slideshow to see extra examples of the consolidation that passed off in wealthtech in 2022.