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Orion Selects Docupace for Automation: Tech Roundup

By Jeff Berman

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What You Need to Know

  • Orion Portfolio Solutions has selected the Docupace Platform to automate workflows for its wealth management platform.
  • Morgan Stanley held its first global in-person Demo Day.
  • Fidelity's eMoney Advisor launched new features allowing advisors to show clients the impact Roth conversions and other tax strategies have on their financial plans.

Orion Portfolio Solutions has selected the Docupace Platform to automate workflows for its wealth management platform, Docupace said Wednesday.

“Automation and streamlined workflows have become an imperative across the wealth management landscape,” Docupace said in a news release, pointing to a study from Accenture showing that 93% of executives surveyed expected to have optimized front-to-back process automation across internal and external partners by 2025.

The Docupace Platform’s workflow engine makes it easy to automate compliance and business process rules by providing alerts and notifications, configurable digital operations, intelligent routing, easy-to-use prebuilt workflows, and standardization with a data synchronization engine.

Orion Portfolio Solutions offers an open architecture, turnkey asset management program that managed $60 billion of wealth management platform assets as of Dec. 31.

Morgan Stanley Hosts Demo Day

Gentreo, a next-generation estate planning software solution helping families and caregivers to prepare, plan and protect their assets, was one of the pitches made Feb. 8, during Morgan Stanley’s first global in-person Demo Day.

Morgan Stanley served as the host for 10 participating companies from the U.S. and Europe, the Middle East and Africa. The companies, all founded by women, made pitches to more than 200 investors, as well as potential business partners and customers, the wirehouse said.

For the past five months, Morgan Stanley’s Inclusive Ventures Lab supported its eighth cohort of technology-enabled startups in the post-seed to Series A funding round stage, offering an “intensive accelerator program designed to provide a variety of mentorship opportunities and business-growth resources from across the firm’s network.”

The Morgan Stanley Inclusive Ventures Lab is under the umbrella of the Morgan Stanley Inclusive Ventures Group, formerly known as the Multicultural Client Strategy Group, which was renamed to reflect the group’s evolution and global expansion.

Founded in 2017, the Lab has hosted 69 participating companies with a combined valuation of more than $670 million, Morgan Stanley said. Following the Lab’s global expansion in 2022, the next cohort will support up to 15 companies in the U.S. and 10 companies abroad, it added.

eMoney Advisor Adds New Features

Fidelity’s eMoney Advisor launched new features allowing advisors to show their clients the impact Roth conversions and other tax strategies have on their financial plans.

The new tools, Tax Bracket Report and Automated Bracket-Based Roth Conversion, “can be leveraged in the Decision Center, eMoney’s most widely used interactive cash flow-based planning experience,” the company said.

The Tax Bracket Report overlays a client’s tax bracket floor with his or her annual income tax base and the taxable portion of any Roth conversion. It also includes additional insight into what remains in the federal marginal bracket for each year, identifying new opportunities and topics for conversation, eMoney said.

To improve ease of use when modeling Roth conversions, a new conversion option can be used to set up a target tax bracket.

Automated Bracket-Based Roth Conversion, accessible through the Fill Up Bracket, converts assets until reaching the breakpoint between marginal tax brackets, eMoney said.

Farther Appoints COO

WealthTech firm Farther appointed Deglin Kenealy as its chief operating officer, it said Thursday.

Kenealy, a former executive at Fisher Investments, will recruit and lead Farther’s top-tier wealth advisor team, enabling advisors to serve more clients and scale their practices, Farther said.

Following Farther’s successful Series A funding round and the doubling of its staff since mid-2022, Kenealy “will work in a central leadership role as the firm continues its rapid growth trajectory,” the company said.

At Fisher, Kenealy led operations and drove business development “for the largest, fastest-growing, privately held investment management salesforce coaching and training a team of 800,” Farther said. In the process, he boosted recurring revenue from $10 million to more than $180 million in less than a decade.

Kenealy also served as CEO at Osborne Partners Capital Management and founded a startup for which he raised more than $18 million from high-net-worth investors while leading the company “from concept to commercialization,” according to Farther.

PEAK6 EdTech Names CEO

PEAK6 EdTech appointed Judi Hart as its CEO. In her new role, Hart will “further PEAK6 EdTech’s mission to make education accessible for all through technology and serve as a collaborative partner to its subsidiary businesses, Zogo, Poker Power, and Fintech In Action,” the company said.

Hart was most recently chief operating officer at parent company PEAK6 Investments and brings over 20 years of human resources and operations experience to PEAK6 EdTech and its portfolio companies, the company said.

She also served as PEAK6 Investment’s chief people officer and has held senior HR positions at Apple, Beats by Dre and game maker Blizzard Entertainment.

(Image: Shutterstock) 

Jeff Berman

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