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WealthStack Roundup: MassMutual Advisors To Have Access To CAIS


Advisors affiliated with MML Investor Services, a Massachusetts Mutual Life Insurance Company (MassMutual) subsidiary, will now have access to alternative investments through CAIS.

The CAIS end-to-end technology platform incorporates alternative investments, including hedge funds, private equity, private debt, real estate, infrastructure and structured notes.

The partnership will also provide MML Investor Services advisors access to CAIS IQ, a proprietary, on-demand alternative investment education platform. CAIS IQ also allows home office professionals to monitor financial advisors’ learning progress across various courses, some of which are available for CE credits. CAIS IQ was created by Alai Studios, a technology development firm.

Alai CEO and founder Andrew Smith Lewis also recently unveiled Lydia, an advisor-facing AI program, in partnership with Shaping Wealth, a company specializing in behavioral finance training and helping advisors understand the psychology of financial planning.

Founded in 1981, MML Investor Services’ wealth management unit currently has $207 billion in assets under management.

CAIS supports over 32,000 advisors who oversee over $4 trillion in network assets. Since its founding in 2009, it has facilitated over $30 billion in transaction volume. CAIS has offices in New York, Los Angeles, Austin, Texas and London.

PureFacts Financial Solutions Partners With BridgeFT

PureFacts Financial Solutions, a data and fee analysis firm, has selected BridgeFT’s WealthTech API to provide direct access to multi-custodial client and investment account data.

In June 2023, PureFacts Financial Solutions became the primary billing application for BNY Mellon’s Pershing X wealth management platform Wove, offering daily fee reporting, advanced revenue management and sales performance analytics.

BridgeFT is a cloud-native technology provider of core software infrastructure to advisory firms, which launched in 2015. It is best known for its cloud-based performance reporting and fee billing offering, Atlas. The company has worked with various clients, including RIA firms, financial institutions (including trust firms and others) and other fintechs. BridgeFT first launched its WealthTech API in January 2023.

The collaboration with PureFacts Financial Solutions is just the latest for BridgeFT’s WealthTech API. In May 2023, Zoe Financial, a find-an-advisor service, selected BridgeFT’s WealthTech API to power its data connectivity and infrastructure. And in November 2023, retirement management software provider Income Lab began using it to aggregate multi-custodial data.

MyRepChat Founder Derrick Girard Joins AdvisorNet Financial

Derrick Girard, founder of texting compliance provider MyRepChat, has joined AdvisorNet Financial, an office of supervisory jurisdiction of Cetera Advisor Networks, in the newly created position of chief growth officer.

Girard, a U.S. Air Force veteran, has spent his career in financial services, with roles at Ameriprise Financial Services and Securian Financial Group. He also spent several years working on investment solutions in the banking channel before joining Minnesota-based software company ionlake, which produced MyRepChat.

MyRepChat was acquired by FMG Suite in October 2023.

AdvisorNet Financial was founded in 1959 and has over 230 advisors in 23 states.

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