Published on 7 July 2025
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M&A and Strategic Moves
Archway Names Anthony Abenante CEO as Firm Becomes Independent
Archway, newly independent following a spinout from SEI, has named Anthony Abenante as CEO. Aquiline Capital Partners has now closed its $120 million acquisition of Archway, marking a new chapter for the firm. Abenante, most recently global head of equities at Credit Suisse and CEO of Instinet, brings decades of leadership in financial services, while Steve Meyer (former CEO of SEI Investments) joins as Chairman of the Board. New hires include Dan Berg as CTO, Richard Griffith as CRO. The leadership reshuffle is aimed at cementing Archway’s identity as a platform for complex wealth and family office operations.
Foundation Source Acquires Pacific Foundation Services
Foundation Source has acquired Pacific Foundation Services (PFS), which specializes in foundation strategy, grants management, and accounting support for major Bay Area foundations. The move bumps Foundation Source’s assets under administration to nearly $40 billion. PFS CEO Charles R. Casey joins Foundation Source’s leadership team as President of Premier Foundation Services, and the full PFS team is integrating into Foundation Source. This acquisition is Foundation Source’s fourth strategic deal in 18 months, following the acquisitions of Giving Place, Vennfi and PG Calc.
PCR Reshapes Leadership and Strategy
PCR is relaunching with a new leadership team and a shift in direction. After months of planning and behind-the-scenes work, the company is moving beyond data aggregation to become a managed data services provider. The new team includes Chitra Baskar (Executive Chair), Ranjan Mishra (CEO), KB Venkataraman (CTO), and Sujatha Rajaram (COO). This shift includes investments in AI and straight-through processing, along with a newly opened operations hub in India that now supports a 70+ person team. PCR currently works with over 300 RIAs, private banks, family offices, and wealthtech platforms—supporting data operations tied to more than $500 billion in assets.
Altruist Acquires Thyme and Rebrands with AI Assistant for RIAs
Altruist has acquired Thyme, an AI-powered productivity platform for advisors, and relaunched it under a new name—Hazel—as part of a broader brand refresh. The introduction of Hazel marks Altruist’s continued evolution into a full-service custodian and technology platform. Designed specifically for RIAs, Hazel streamlines workflows, answers advisor questions, and automates routine tasks. The launch coincides with new integrations, including with Orion and Advyzon, aimed at expanding advisor access to essential tools within the Altruist ecosystem. As one of the smaller custodians, Altruist continues to leverage cutting-edge technology to compete with incumbents like Fidelity and Schwab.
iCapital Expands in Utah
iCapital plans to expand its Salt Lake County operations, creating 200 new jobs. The expansion is made possible through Utah’s Economic Development Tax Increment Financing (EDTIF) program, with the Governor’s Office of Economic Opportunity granting a 20% post-performance tax credit. This incentivizes iCapital’s seven-year commitment to the region.
Product Updates and Partnerships
Chantico and Copia Form Scenario Modeling Partnership
Chantico Technology, experts in machine-learning-driven scenario modeling, and Copia Wealth Studios, an AI-first wealth platform, have formed a strategic partnership to enhance portfolio stress testing for alternative-heavy portfolios. Michael J. Sikorsky, CEO of Copia Wealth Studios, commented: "We've brought $30 billion in Assets Under Intelligence® and adding Chantico's scenario modeling means clients can game out market shifts before they happen. When half your wealth sits in alts, that predictive power becomes superpower magic." The new capability will launch to Copia clients in Q3 2025, with broader market availability expected in Q4.
BlackCloak and PwC Partner to Address Converging Cyber and Physical Threats
BlackCloak and PwC are teaming up to tackle a growing problem: the line between digital and physical threats is disappearing. Executives and high-net-worth individuals are being targeted through smart-home hacks, doxxing, SIM swaps, and even deepfakes—cyber issues that often lead to real-world risks like stalking or theft. To address this, the two firms are rolling out a new “Digital Executive Protection” framework that brings cybersecurity and physical security together. It includes smart practices like securing home tech, monitoring travel risks, and making sure digital and physical security teams work in sync.
Canoe and Asora Partner to Streamline Family Office Reporting
Canoe has partnered with Asora, a SaaS platform for single and multi-family offices to track and oversee assets, automating data capture and providing digital on-demand reporting on the web and mobile across public and private assets.
Chronograph and FIS Integrate via Snowflake to Streamline Private Capital Data
Chronograph has integrated with FIS Private Capital Suite (formerly Investran) via Snowflake to automate cash flow ingestion and real-time data syncing across private market systems. The integration removes manual uploads by enabling direct, secure data sharing—improving reporting speed, data accuracy, and system alignment for LPs and GPs. It’s a turnkey, zero-maintenance solution within Chronograph’s “Connectivity-as-a-Service” strategy to reduce friction in private capital workflows.
K1x Adds 1099 Data Extraction to AI Tax Platform
K1x has launched Aggregator Plus, an upgrade to its AI-driven tax automation platform, now supporting automated Form 1099 extraction alongside Schedule K-1s. The tool streamlines tax workflows for accounting firms, family offices, and institutional investors by digitally extracting key tax data and generating executive summaries.
ARQA Powers Integrated Partners’ New AI-Driven Advisor Dashboard
Integrated Partners has launched a next-generation advisor dashboard, with ARQA providing the AI intelligence behind the platform. Built in collaboration with Invent, the dashboard integrates CRM, custodial data, and marketing tools into a streamlined hub. ARQA’s engine drives the AI assistant “RAI,” which surfaces key insights, automates routine tasks, and enhances advisor productivity.
ExpensePoint Integrates with Sage
ExpensePoint has integrated with Sage Intacct, enabling automated expense data syncing without manual uploads. The integration offers AI-powered receipt capture, corporate card reconciliation, and real-time visibility—streamlining workflows and accelerating month-end close for finance teams.
Monark and InteliClear Integrate to Expand Pre-IPO Access for Broker-Dealers
Monark, a fintech offering "Alts-as-a-Service" APIs, has integrated with InteliClear’s post-trade platform to bring Pre-IPO investments into traditional brokerage infrastructure. The integration automates onboarding, funding, and recordkeeping, enabling broker-dealers to offer private market access within existing workflows. The move aims to make alternatives more accessible to retail investors.
First Rate Integrates InvestSuite’s StoryTeller for Narrative Reporting
First Rate has integrated Belgium-based InvestSuite’s StoryTeller into its Core 2.0 platform to enhance client reporting with narrative-driven insights. StoryTeller replaces traditional charts and tables with clear, personalized stories that explain portfolio performance in a more engaging and client-friendly way. The integration aims to ensure data consistency through First Rate’s calculation engine.
Accelex and Quantyx Partner on Private Markets Risk Automation
Accelex, a London-based AI specialist in private markets, has partnered with Quantyx, an Italy- and Luxembourg-based provider of cloud-native risk, valuation, and data services for private market investors. The integration embeds Accelex’s AI tools into Quantyx’s RM platform to automate unstructured fund data extraction.
Orion Expands Investment Access with J.P. Morgan SMAs and iCapital Integration
Orion has added a suite of J.P. Morgan separately managed accounts and ETF model portfolios to its UMA platform, enhancing investment flexibility and tax-efficient customization for advisors. In parallel, Orion and iCapital have deepened their integration, enabling streamlined access to alternative investments through iCapital’s robust distribution and administration infrastructure.
Bridge Alternatives Now Active in New York
Bridge Alternatives, based in Lake Forest, Illinois, now has “boots on the ground” in Midtown Manhattan, with team members working locally to be closer to clients and strengthen relationships. Bridge is an alternative investment services platform that helps with fund launches, due diligence, operations, capital raising, and strategy.
MG&A Wealth Selects Proteus for Private Market Access
MG&A Wealth, a $1B+ independent RIA, has partnered with Proteus to streamline private market investing for its high-net-worth clients. The platform offers simplified access to private funds, consolidated reporting, and due diligence tools through a single interface.
Leadership Moves
Rusdi Sumner has joined InfoGrate as a senior consultant. Previously, she served as COO at Market Street Trust, a $2.5 billion multi-family office. With deep expertise in family office and wealth management operations, Sumner brings a strong track record in technology strategy and organizational transformation. She has led system implementations and process redesigns across platforms including Salesforce, Addepar, and eMoney—helping ultra-high-net-worth families simplify and streamline complex operations.
Julia Kosinski has joined Luminary as head of solutions. An estate planning attorney by training, she brings over 5 years of experience as attorney and trust officer at the Dalio Family Office, along with deep trust & estate expertise gained at prominent law firms.
LemonEdge has named David Thomas O'Malley as its new President. O’Malley brings senior experience from SAP, Oracle, and FIS, and will lead the next phase of growth for LemonEdge’s low-code accounting and ops platform for private markets.
Orion has appointed Valli Nachiappan as its new Chief Technology Officer, marking a significant boost to its leadership team. Nachiappan brings over 20 years of tech leadership—most recently as VP of Engineering at Zendesk—where she drove global engineering initiatives and led AI innovation. At Orion, she’ll report to President Reed Colley and spearhead efforts to modernize the company's platform architecture, expand its data and AI capabilities, and enhance its tools for over 2,400 advisory firms and 7.3 million accounts.
Former Riskalyze/Nitrogen CEO Aaron Klein has unveiled Contio, a new AI-driven “meeting operating system” built to eliminate inefficient meetings. Based in Boise, Idaho, Contio officially began operations on January 2 and has raised $5.5 million in seed funding from Klein and a backer circle that includes Ric Edelman, Eric Clarke, Steve Lockshin, Brian McLaughlin, Scott Hanson, Barnaby Grist, Yoav Zurel, Mike McDaniel, Andy Swan, and Capital Eleven Ventures.
Canoe Intelligence has appointed Jim Eliason as CFO, bringing 30+ years of experience, including CFO roles at Device42 and Datawatch.