Not even fintech funding was immune to the chaos created by COVID-19, falling 30% in 2020, according to data from Forrester Research.
But like the San Francisco Giants, the fintech market bounced back in a big way in 2021 with its best year ever in terms of venture capital funding. Despite rising inflation and international tension, fintech funding shot up more than 200%. (OK, not a perfect analogy — you could argue that winning a World Series would have made it a better year for the Los Gigantes, but the point is they won a franchise-record 107 games last season and I’m excited MLB is back.)
While digital payments continue to be the hottest area of investing, wealthtech is thriving as well. Just this week, the London Stock Exchange Group sold its collection of back-office software, which runs behind the scenes at firms like Wells Fargo, LPL and Vanguard, to private equity firms Clearlake Capital Group and Motive Partners, for $1.1 billion. The two firms just so happen to be the investors behind InvestCloud’s rise to prominence in the TAMP space, so a combination there seems likely.
Speaking of TAMPs, Advzyon became the latest wealthtech to step into the outsourced investment management arena. Becoming a TAMP is starting to look like the next logical path for growing wealthtech companies that don’t get acquired.
The lineup for our upcoming Invest Conference is starting to take shape, so be sure to check it out and get your tickets. Hope to see all of you there this summer.
|  | Ryan Neal
Technology Editor, Financial Planning
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| By Ryan W. Neal 2 min read | Private equity firms Motive and Clearlake are buying the tech, which has about $6 trillion in assets on the platform. Read story → |
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| | | By Ryan W. Neal 3 min read | The provider of an all-in-one software package will now offer advisors outsourced investment management. Read story → |
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| | | By Diana Li 5 min read | Despite market volatility and regulation uncertainties, nearly half of family offices think that cryptocurrencies provide good investment opportunities. Read story → |
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| | | By Jess Murray, Scott Reddel 4 min read | Mixed-reality technology is now being used to train advisors; use cases that bridge the physical and digital worlds between client and wealth planner could be next. Read story → |
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| In this eBook, we reveal how top firms maintain growth and win back time, despite the challenges. Read more → |
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| | | By Tobias Salinger | With practices innovating in the way that they engage with clients and prospects, some may be missing out on business opportunities. Read story → |
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| | Follow Financial Planning in real time. More ways to get the most trusted industry news and analysis. |
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| | | | | | | | | | | | | | | RESOURCES | | | WEB SEMINAR | | Thursday, March 24, 2022 3:30 PM EDT | Louisiana’s Transportation Secretary and the former Assistant to the President for Infrastructure discuss the state of play in the U.S. P3 sector, the impact of the new infrastructure law, and what's in store for the next decade. Learn More → | | | WEB SEMINAR | | | Join Maggie Kimberl, President of the Bourbon Women Association for a peek behind the scenes of the bourbon industry. Learn more about the women that are rising in the male-dominated spirits sector, the proper bourbon tasting technique and a little bit of the history of bourbon. Learn More → | | | REPORT | | | Download the guide that’s helping advisors like you identify the structure, environment, and firm that will help you perform at your best. Learn More → | SPONSOR CONTENT FROM LPL Financial | | | REPORT | | | Scott Colbert, executive vice president and chief economist at Commerce Trust Co., will discuss the Federal Reserve's monetary policy decision and where they go from here. Learn More → | More resources → |
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