TD Ameritrade Makes More Thinkorswim Enhancements: Tech Roundup

The company has not provided financial terms of the transaction and didn’t immediately respond to a request for comment.

The acquisition follows TIFIN’s announcement last month that it hired former Envestnet executive Jason O’Shaughnessy to serve as head of its international business.

The acquisition of SharingAlpha, which has a community of more than 15,000 professional fund investors and analysts globally, including a large percentage in the U.K. and Western Europe, establishes TIFIN’s international presence.

SharingAlpha was co-founded six years ago by Israeli brothers Oren and Yuval Kaplan.

TIFIN’s fintech platform uses artificial intelligence and investment-driven personalization, After the acquisition, SharingAlpha “will be fully integrated into TIFIN’s Magnifi platform,” the company said.

“The integration will offer both retail and professional investors from all over the globe unique digital tools to enhance their personal investment experience leveraging the AI-powered investment intelligence on Magnifi’s existing platform now augmented with SharingAlpha’s proprietary community intelligence insights,” the company explained.

Oren Kaplan will also join Magnifi as a partner and work closely with O’Shaughnessy on the integration of the platforms, the company added.

TIFIN is funded by JP Morgan Asset Management, Broadridge, Morningstar, Franklin Templeton Hamilton Lane and Motive Partners. The fintech firm has 3.5 million retail investors and 7,000 advisors users. TIFIN recently closed a $109 million funding round, it said.

IAA Forms Joint Venture

Hybrid RIA Independent Advisor Alliance said it partnered with We Handle Tech to create a technology firm dedicated to supporting financial advisors.

We Handle Tech: 4 Advisors “caters to independent financial advisors and RIA firms to manage IT solutions and software, proactively mitigate cybersecurity risks and ensure firms are SEC and FINRA compliant,” IAA said.

“Whether it’s back-office support, data security, client engagement, or portfolio management, technology is an integral part of every advisor’s business,” according to Robert Russo, IAA CEO and founder.

“However, many lack the staff, tools, budget, and knowledge needed to integrate a proactive tech solution to support their firm,” Russo said in a statement. “We looked out into the marketplace for a comprehensive solution to solve for this service gap. When we couldn’t find one, we built it.”

We Handle Tech: 4 Advisors “leverages IAA’s knowledge and expertise in broker/dealer, RIA, and regulatory body requirements and combines it with We Handle Tech’s cost-saving tech solutions, ensuring every advisor’s practice is efficient, compliant, and secure,” IAA said.

A tiered pricing model is being used. “From an independent advisor starting out or an established firm with more complicated requirements, there is an affordable support package to fit each budget,” IAA added.