Apex Clearing Adds Rebalancing Technology — wealthmanagement.com
Apex Clearing, the independent clearing firm that acts as custodian for a number of the robo advisor startups, announced Tuesday that it will integrate rebalancing technology from Smartleaf into its core custody and clearing services. The companies said they intend to target firms that are interested in adding digital advice into their existing offering. According to a new poll conducted by Vestmark, 70 percent of firms are embracing robo technology to complement their existing service in order to meet evolving regulations and client demands. Eventually, Smartleaf and Apex will expand beyond digital advice to support rebalancing across wealth managers’ entire client base.