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Fintech 55ip, a fully owned subsidiary of JPMorgan Chase, and InvestCloud expanded their strategic partnership to enable tax optimization for both public and private market assets within a single UMA.
Financial advisors can now integrate 55ip’s proprietary ActiveTax Technology with InvestCloud’s Private Markets Account, allowing for automated tax optimization, tax loss harvesting and tax transition across diversified portfolios that include private market investments.
“Tax optimization has long been a key driver of client outcomes, but historically confined to public markets,” said Gautam Sachdev, CEO of 55ip, in a statement. “By integrating our tax-smart technology into the InvestCloud PMA, delivered in a unified managed account experience, we’re giving advisors a new level of flexibility and efficiency, allowing them access to private markets while continuing to implement personalized, tax-advantaged strategies at scale.”
55ip and InvestCloud first partnered in 2023, when the former’s capabilities were integrated into InvestCloud’s managed account platform, APL. Earlier this year, InvestCloud appointed Josh Mayer as chief operating officer of APL, charged with driving the platform’s growth. The company has been trying to position APL, which has 10 million accounts, as a tool to help advisors manage public and private investments in one place. APL users already have access to private market model portfolios provided by Apollo Global Management.
BetaNXT Partners With Tumelo
BetaNXT has partnered with U.K.-based investor-voting technology provider Tumelo to enable pass-through voting for retail investors. The partnership combines Tumelo’s ProxySphere voting technology, which enables institutional and retail investors in pooled funds to vote their shares, with BetaNXT’s proxy and investor communications network.
For those unfamiliar, BetaNXT provides software, data, and operations-as-a-service, to financial institutions, including securities processing, tax reporting and investor communications.
The collaboration is intended to allow brokers, asset managers and retirement plans to offer individual investors and beneficial owners a direct voice in corporate decision-making.
“This partnership is a natural extension of BetaNXT's mission to connect the investment ecosystem through data, technology and transparency,” said Chris Nobles, division executive for Mediant, a BetaNXT subsidiary.
The partnership addresses growing policymaker interest in empowering shareholders and expanding participation, making scalable voting-choice infrastructure increasingly relevant.
Story ContinuesBy enabling brokers and asset managers to extend access across their entire retail base, the BetaNXT/Tumelo integration should position the firms to better meet evolving compliance expectations of enhanced transparency when it comes to corporate governance.
In turn, this should mean that brokers, retirement plans and their advisors can deepen shareholder engagement, enhance financial literacy and strengthen client loyalty.
“We're on a mission to give every investor a voice,” said Will Goodwin, co-founder of Tumelo. “Together with BetaNXT, we're unlocking shareholder power for millions—enabling people to fully personalize their investment products to best meet their objectives."
The partnership should allow the two companies to better compete with others in the proxy voting arena, including Broadridge Financial Solutions, Donnelley Financial Solutions and others.
Advisors at Prudential Get iOS Mobile App
Prudential Advisors launched its Connect mobile app for iOS devices, bringing key desktop features to mobile for its more than 3,000 financial advisors and fee-based financial planners. The app is part of the company’s strategy to incorporate artificial intelligence into advisor productivity tools.
The mobile app complements Prudential Advisors’ proprietary AI-enhanced productivity platform, launched in 2024 after a nine-month research and development cycle. Features include client search with portfolio summaries, leads dashboard with calling and emailing integration, and a Microsoft Outlook agenda view for daily scheduling.
“The launch of our Prudential Advisors Connect mobile app marks an important step in our ongoing efforts to support advisors the way they support their clients,” said Pat Hynes, president of Prudential Advisors. “By combining continuous data enhancements with practical mobile capabilities, we're empowering advisors to stay connected and informed—to be effective where they are."
The app currently supports iOS 18 and above, with Android coming soon. It is designed to complement, not replace, the desktop experience.
Prudential Advisors Connect integrates financial planning, CRM, investments, annuities and lead management. The platform has delivered a 5% rise in advisor productivity, 10% increase in lead conversion and 24% improvement in Ease of Doing Business scores since launch, according to Prudential.
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