Chatham-Based Invessence Making a Splash on the International Stage

When recently spoke with Michael Frank, COO of Chatham-based startup Invessence, he was bullish on the company’s progress.

The company sells white-label versions of its custom robo investment adviser to banks, brokers, asset managers and financial institutions worldwide, and the technology is gaining traction.

“We are one of the only digital wealth management technology providers with clients in the U.S. and Asia”, Frank told us.

The company had just finished helping UOB Kay Hian (Singapore) introduce its new robo site, UTRADE Robo, based on Invessence technologies, to over 1,600 sales reps. UOB Kay Hian is a subsidiary of the Singapore-based United Overseas Bank (UOB), a global investment bank with a market cap of $37 billion and net income of over $2 billion.

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Robots Can Manage Your Money. But Even They Need Humans

For those who want guidance from a professional, the online options are multiplying. The big question that looms for roboadvisers, some analysts say, is whether they can make enough money by charging customers so little. In the past few years, several independent online advisers including WorthFM, Hedgeable and, after Northwestern Mutual acquired it, LearnVest have closed. Others, including Invessence, have switched to selling their technology to other money management firms.

To read the entire article, please visit:

Highlighting 50 solution adoption deals in wealth management from the first six months of 2018

Every month in our Wealth & Tech newsletter, we highlight a range of the latest technology-related developments in and around the wealth management sector from across the world. In this piece, we highlight 50 solution adoption deals from the first 6 months of 2018.

The solution providers featured in the PDF and currently in our marketplace (each name has a hyperlink through to their business profile homepage on our site) are: Invessence.

To read the entire article, please visit:

Singapore banks turn to China’s wealthy to offset slumping stock markets

Banks are also seeking to ride on and bank on ongoing technological disruption in the financial sector. UOB announced a partnership with fintech companies like Pintec and Invessence to launch digital services and robo advisory (UTrade Robo).

Thung also observed the “continuing investment” in back-office systems such as client advisor and relationship management tools, robotics and automation, as well as in compliance systems, in particular on transaction surveillance and anti-money laundering or combating the financing of terrorist activities to address increased focus by regulators.

“Overall, wealth managers and banks should see benefits from these investments in technology infrastructure, both in terms of attractiveness of the offerings and enhanced client experience, and also through avoiding expensive fines or remediation work in the compliance areas”, he added.

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Invessence: Built to be Flexible

Nestled in Chatham, NJ, a picturesque suburb of New York City, Invessence is a FinTech solutions provider that is reinventing the wealth management landscape by automating the entire investing process into a streamlined online solution. The company has built an impressive group of partners, teaming up with larger financial institutions to deliver a next generation digital experience for their customers. Seizing upon numerous opportunities the digital era offers, Invessence continues to help advisors take their business to the next level.

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Building Benjamins and Invessence Collaborate on Alternative Fund Robo Investment Platform

The collaboration of two New Jersey companies has resulted in an opportunity for people with as little as $50,000 to invest to have a robo-adviser and get access to alternative investments formerly available only to those with $1 million to invest.

The two companies are Building Benjamins, the online arm of Tradition Capital Management, a Summit-based registered investment adviser (RIA), and Invessence (Chatham), the wealth-management technology provider that built and customized the engine behind Building Benjamins’ offering. Together, the companies developed a customized online robo-advisor called “Building Benjamins”.


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A Wealth Tech World: Mapping Robo-Advisors Around The Globe

Since 2012, private robo-advisors have raised over $1.32B globally across 119 equity investments. Robo-advisors make up the largest sub-category of companies in wealth tech and account for roughly 30% of total funding.

Three of the earliest robo-advisors firms and largest in terms of total funding are Betterment, Personal Capital, and Wealthfront. Though they lead in the US, expanding internationally is a challenge because of the complex international regulatory environment, differing investment practices, and other barriers to entry. Seeing the market opportunity outside the US, new early-stage (seed/angel or Series A) robo-advisors have been launching in many different markets and span at least 17 countries outside of the US.

Using CB Insight’s database, we mapped the global distribution of robo-advisors and identified geographic trends. We define robo-advisors as companies that use automated investment platforms, leveraging technology to provide digital financial advice or portfolio management. These firms may serve retail investors directly or provide technology to financial advisors and wealth management firms.


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Invessence selects the eureQa Automation Platform for Automated Testing of its Digital Wealth Management Solution

PHILADELPHIA, PA  6 Apr, 2017  eureQa, the SaaS+Cloud Automation Platform for enterprise software testing announced that Invessence has selected the eureQa Automation Platform for testing its digital wealth management solution

Invessence is a business-to-business provider of automated digital wealth management technology (including robo advisory services) that enables asset managers, broker-dealers and advisors to deliver their investment solutions through a white-labeled online platform.

eureQa uses automation to bring speed, scale and efficiency to enterprise software testing. Companies like Miraca Life Sciences, iContracts and LogFire have reduced testing times by 85% and testing costs by 75% with the eureQa platform.

“We selected eureQa to help us accelerate our product implementation process. In the past we’ve attempted to build automation ourselves, but found that the eureQa platform met and exceeded our expectations, freeing our developers to focus on our customers needs”, said Michael Frank, COO of Invessence. “With eureQa we can accelerate the automation of UI and functional tests for all our customers, helping us reduce customer onboarding time.”


To read the entire press release, please visit:

Invessence and PrairieSmarts Partner to Arm Advisors with Better Risk Assessment Tools for Easier DOL Compliance

Digital wealth management technology provider Invessence announced today that it has partnered with PrairieSmarts, an innovative risk analytics firm, to provide risk assessment tools for financial advisors and their clients. Enhancing Invessence’s comprehensive digital wealth platform, the robust risk tools from PrairieSmarts will assist advisors in calculating, documenting and managing the alignment of a client’s risk profile with a compliant portfolio recommendation.

Scalable Research-Based Tool

Leveraging advances in computing power, PrairieSmarts has used a unique methodology to create a scalable, research-based tool which standardizes the risk assessment process throughout the lifecycle of a client — from the first introductory/prospecting meeting, to investment recommendations, to ongoing client reviews.

To read the entire press release, please visit:

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Advisor Technologies to Seize the Digital Opportunity: Comparing Vendor Solutions

Boston, October 27, 2016:  Dozens of business-to-business digital wealth platforms have emerged to help incumbent advisory firms digitize their practice. These fintech firms either provide technology to support digital client engagement or digital investment management. What are the key considerations wealth management firms must take into account when developing a digital advisor strategy and choosing a vendor solution?

Based on early 2016 Aite Group interviews with 10 North America-based digital wealth platform providers, this report examines how digital advisor technology platforms are positioned to help advisors build their practice- and portfolio-management capabilities while improving their engagement with clients. The vendor platforms in this study each offer client acquisition capabilities such as account opening, the ability to deliver and manage algorithm-based online investment portfolios, and tools that support advisor efficiency and advisor/client engagement.

The profiled vendors include Invessence.

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Invessence Taps MX’s Aggregation Capabilities for its Digital Advisor Platform

SILICON SLOPES, Utah, Oct. 10, 2016 /PRNewswire/ — Digital wealth management technology provider Invessence announced today that it has partnered with MX to provide account aggregation capabilities for its client base. Aggregation will enable advisory firms on the Invessence platform to gain a holistic, current view of an investor’s financial situation, including both accounts managed by the advisor and non-managed accounts. A lack of visibility around non-managed accounts has long limited the ability to provide sound financial planning and risk assessment.

“Advisory firms are required to understand their client’s full financial situation, risk, and needs,” said Jigar Vyas, CEO of Invessence. “Integrating the account aggregation capabilities of MX with our digital wealth management platform gives advisory firms the ability to see a comprehensive view of their clients’ total assets and liabilities across multiple custodians. It will act as an analytical dashboard for investors but also as an oversight tool for advisors.”

Read the entire press release at

Invessence Integrates Digital Wealth Management Platforms with TD Ameritrade Institutional’s Veo

NEW YORK, NY (PRWEB) SEPTEMBER 26, 2016 — Invessence, Inc., a digital wealth management technology provider, now offers seamless integration of its AdvisorGo and AdvisorCustom platforms with Veo®, TD Ameritrade Institutional’s brokerage and custody platform.

Invessence is a business-to-business provider of wealth management technology solutions to asset managers, broker-dealers, and advisors globally.

“Integrating with TD Ameritrade Institutional’s automated, fully digital account-opening process allows advisors a greater choice in building out their digital solutions”, said Jigar Vyas, CEO of Invessence.

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DriveWealth Goes Worldwide with Invessence Technology

DriveWealth, a broker/dealer that utilizes an app to help investors buy fractions of company shares, announced it is partnering with tech provider Invessence to offer their wealth management platform worldwide. DriveWealth recently released its Wealth Management APIs, allowing advisors to incorporate fractional shares to create customized portfolios for clients. Invessence’s white-labeled robo technology provides asset managers, b/s and advisors a platform for automated client registration, portfolio management, account administration and reporting processes. Combining DriveWealth with Invessence lowers the client minimum account balance, opening it up to investors of any age and experience level. “Global investment advisors are beginning to recognize that they can create more diversified portfolios for their clients by including U.S.-listed stocks, ETFs and ADRs in their recommendations; however internally building a trading interface to support U.S. securities can be costly and time-consuming,” DriveWealth founder and CEO Robert Cortright said in a statement. “Our collaboration with Invessence provides advisors with a cost-effective, streamlined platform to enable to U.S. securities access for investors worldwide.

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DriveWealth Partners With Invessence To Offer Digital Wealth Management Platform Globally

DriveWealth, LLC, a U.S. broker-dealer, is pleased to announce its partnership with Invessence, Inc., a digital wealth management technology provider, to offer their wealth management platform to investment advisors worldwide.

DriveWealth recently announced the release of its Wealth Management APIs, which support both traditional investment advisors and robo-advisors on a global scale. DriveWealth’s Wealth Management APIs allow advisors to manage their client’s accounts in one of three environments: non-discretionary, discretionary, or blended. Through the APIs, advisors can incorporate fractional shares to create customized weighted portfolios for clients of various income and experience levels.

Read the entire press release:

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TIAA Buys MyVest: One More Incumbent Seeks Company Along the Digital Path

The approach wealth management firms ultimately take to developing a digital solution is among the largest decisions financial advisory firms are facing.  it has a material impact on advisor’s service delivery, technology spend, business model, and, last but not least, brand. As digital advice moves from a nice-to-have service to an essential component, choosing an appropriate digital strategy will go a long way toward meeting the ever-changing needs of advisors and their clients. The recent investments by TIAA and UBS provide more evidence of digital wealth’s high stakes. Aite Group expects further mergers and acquisitions activity from leading wealth management firms over the next couple of months.

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Invessence Powers Building Benjamins, The New Robo-Advisor of Tradition Capital Management


Digital wealth management technology provider Invessence has partnered with independent investment management firm Tradition Capital Management (“Tradition”) to build an automated online investing service called Building Benjamins.

Requiring a minimum investment of only $50,000, Building Benjamins℠  recommends one of six risk-adjusted investment portfolios managed by Tradition. The portfolios consist of U.S. stocks along with diversifying assets such as bonds, reinsurance, alternatives and international investments. Building Benjamins will mix low cost ETFs with mutual funds that provide access to asset classes that are not efficiently available in the ETF structure. An investor can open an account through an online process, select an appropriate recommended portfolio and have it periodically rebalanced over time. Tradition’s experienced investment committee will oversee the portfolios. The service is expected to launch later this year. Michael Ciccone is the lead Adviser on the Building Benjamins’ service for Tradition.

Invessence is a business-to-business provider of automated technology (including robo-advisory services) that enables asset managers, broker-dealers and advisors to deliver their investment solutions through a white-labeled online platform. The technology can be customized to provide a full range of options for firms to configure the types of recommended securities, portfolio strategy and even user experience.

Read the full press release at:

nydla invessence

NYDLA Podcast featuring Jigar Vyas of Invessence

The New York Distance Learning Association aims to be the premier remote work, distance/digital learning and collaboration association in the United States and beyond. Whether it is via satellite, video conferencing, online, offline or other means of distribution, NYDLA will provide the latest information about technology development, collaboration, design and application in our at anytime, anywhere global collaboration world.

The NYDLA mission: To support a global forum dedicated to the exchange of ideas and information between corporate, academic, and government professionals, concerning the issues and technological changes in the field of Digital, Distance or “e-Learning” and evangelize how TBLS (Technology Based Learning Systems) can be utilized to improve human performance. At its core, the NYDLA epitomizes the fusion of knowledge, technology and talent on a global basis.

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Invessence Partners with Ladenburg Thalmann Powering Digital Advice Platform $ymbil℠


Digital wealth management technology provider Invessence has partnered with financial services firm Ladenburg Thalmann Financial Services Inc. (“Ladenburg”) to launch a self-service online investment platform called $ymbil℠ . The new service enables financial advisors of Ladenburg’s affiliated broker-dealers the opportunity to reach a broader range of clients through the $ymbil℠  platform. $ymbil℠  matches clients to a diversified portfolio consistent with their personal risk tolerance, while improving advisor efficiency by automating client registration, account administration and reporting processes into a streamlined end-to-end solution.

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Startup Roundup: Invessence

Invessence, a business-to-business fintech startup located in Chatham, has officially launched its white label digital adviser platform. The software is being used on the Ladenburg Thalmann Financial Services (New York) platform under the name “$ymbil,” according to Jigar Vyas, Invessence cofounder and CEO.

The startup has been operating for three years, developing its Software-as-a-Service (SaaS) product under the radar in a hot area of fintech called “digital advice platforms for wealth management.”

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Ladenburg Thalmann Launches $ymbil – A Robo-Advisor Platform

MIAMI– Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS, LTS PrA) (“Ladenburg”) today launched $ymbil℠, a self-service investment platform that matches clients of Ladenburg affiliated advisors to a diversified portfolio consistent with their personal risk tolerance. Requiring a minimum investment of $500, $ymbil allows clients to fund their accounts and start investing in minutes.

“With $ymbil, we are helping advisors address the growing demand for wealth management services that harness the combined benefits of automation and human insight”, said Adam Malamed, Ladenburg’s Chief Operating Officer. “$ymbil appeals to financial advisors and investors looking to maximize the benefits of technology with automated client registration, account administration, reporting and operational efficiencies”.

Read the full press release here:

IBDs Change Tune on Digital Advice Ahead of Fiduciary Rule

March 30, 2016

Independent broker-dealer advisors think they may have a problem with the Department of Labor’s pending fiduciary rule, namely servicing smaller clients and staying ahead of investor trends and regulation.

Ladenburg Thalmann believes it has a solution: $ymbil, its new digital advice platform. The self-service portfolio account will be made available to its advisor network and will require a minimum $500 investment to open.


Comparing Robo-Advisers for Retirees

July 2, 2015

Automated services are gaining popularity, but can they handle the complex needs of investors in or near retirement?

“Robo advisers” are making low-cost, computer-generated advice easily accessible to investors. But can automated advice address the complex needs of investors in or near retirement?


Robo Advisors: A Threat and Opportunity for Smart Wealth Managers

June 15, 2015

This program will explore how Robo Advisors are becoming increasingly relevant in the asset management industry, and the implications their growth has for traditional active managers. Robo Advisors are providing a more efficient, cost-effective portfolio management solution for many “no frills” investors seeking passive management and automatable investment processes at a fraction of the traditional manager’s cost.

You can register for the event at


Digital Wealth Management Market Update: A Mosaic of Models Emerge

March 3, 2015

The digital wealth management marketplace has become more diverse: Traditional firms have entered the marketplace along with new startups that offer active management and hedge fund strategies to retail investors. The entry of traditional firms and the continued rapid growth of independent digital advisors are expected to increase digital wealth management client assets from approximately US$16 billion at the end of 2014 to a range of US$55 billion to US$60 billion by the end of 2015.

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Ten Tech Tools To Make Your Practice Better, Stronger, Faster

April 14, 2015

Looking to turbo-charge the way you work with clients? As online advisories dish up autonomous tools for investors, reps need to step-up their own service. These programs enhance how you interact with clients, provide details more quickly, and strengthen offerings you have today.

You can read the complete article at

Making sense of all the robo-advisers

December 19, 2014

Venture capitalists are buzzing around investment advice because it is one of the few sectors that is still people-intensive and ripe for automation, Easterbrook added. His firm polled 11 leading online advisers in December and found they were giving paid advice on nearly $19 billion in assets, up from $11.5 billion in April.

You can read the complete article at SFGate.

DyMynd and Invessence Team Up to Engage Advisers with “Invisible” Investors

December. 11, 2014

DyMynd and Invessence, boutique financial services firms that work with institutions and advisers to improve market engagement, announce they have teamed up to apply research-driven solutions to bridge relationship gaps between digital advisers and today’s tech-savvy investors.

You can read the complete press release at PR Newswire.

How to Choose the Right Robo Advisor for Your Retirement

November 7, 2014

Low-cost online managed accounts are an option for consumers who choose to invest a lump sum of money in a diversified portfolio and have their investments managed for them.

You can read the complete article at MainStreet.

Invessence Selected as Tech Company To Watch

HARTFORD, Conn. October 16, 2014

The Connecticut Technology Council has selected 76 Tech Companies to Watch to participate in the seventh annual Connecticut Innovation Summit.  These emerging and early stage technology firms have been identified as having the potential to become fast growing firms.

You can read the complete press release at

Invessence Launches New Online Product for Financial Planners and Advisors

New York, NY (PRWEB) August 25, 2014

The rapid growth and funding of online investment advisors called robo-advisors, reflects strong demand for low cost, simplified investment management services. Building off their momentum, a firm called Invessence is now arming the best human advisors with the best robot technology.

You can read the complete press release at

Inexpensive Advice for Index and Exchange-Traded Fund Investments

Your Money

These companies offer help picking and rebalancing index and exchange-traded funds or similar investments, and none charge more than about 0.5 percent of your assets each year for the privilege.

You can read the complete article at

Inside Robo Advisor Asset Allocation

By Elisabeth Kashner

The humans behind the robo advisors have reason to be proud of their work. They build broad-based portfolios for a range of risk levels and offer them at low-cost, often with rebalancing and tax-loss harvesting.

But are these portfolios truly streamlined, or are they a touch humanoid?

You can read the complete article at

Ghosts In The Robo Advisor Machine

By Elisabeth Kashner

Today I’m going to talk about the brains behind the machines. It’s time for a look at the not-so-evil geniuses behind the robots, with a complete overview of each firm’s value proposition and investment philosophy.

You can read the complete press release at

Which Robo Advisor For My Teen?

By Elisabeth Kashner

My husband and I recently sat down with our son, 13 years old and newly flush with bar mitzvah money. It wasn’t long before someone mentioned the robo advisor – the new breed of automated, online asset allocation and investment management services that offer all-ETF portfolios.

You can read the complete press release at

The Next Wave of Online Advice

By Diane Britton

According to Easterbrook’s report, new algorithm-based advice services are in the works, including Financial Guard and Quovo, expected to launch in the fourth quarter of this year, and NestEgg Wealth, expected to come out in late 2013 or early 2014. Invessence, a new low-cost online managed account system, should go live by the end of this year.

You can read the complete article at

10 Tech Trends That’ll Rattle the Advisory Industry

By Danielle Andrus

3. Low-Cost Online Managed Accounts: Firms that use this method have clients buy into the same basket of low-cost ETFs as a managed account but with their own allocation based on the results of a questionnaire.  Users don’t work with a manager or advisor, but have access to customer service. The minimum investment starts as low as $5,000 for many firms, and accounts frequently invest in passive index funds.

You can read the complete article at