FinTech News

Apex FinTech Solutions Acquires AdvisorArch

by Kyle BurbankMar 12, 2024

Apex FinTech Solutions, which provides clearing services and other solutions, has announced its latest acquisition.

About the acquisition and AdvisorArch:

Today, Apex FinTech Solutions revealed that it had acquired AdvisorArch — a company that Apex has partnered with since 2023. Terms of the deal were not readily disclosed.

According to Apex, the acquisition will allow it to strengthen its platform and expand its digital advice tools. For example, it notes that AdvisorArch helps increase efficiency by automating rebalancing. This autorebalancer supports tax loss harvesting, fractional share trading, direct indexing, and more. Furthermore, the company says that access to direct indexing can be offered without minimum account sizes or transaction amounts.

In context:

This acquisition comes as Apex FinTech Solutions plots a possible initial public offering. As Fortune reports, the company filed a draft registration statement with the SEC in December of last year. Previously, in 2021, the firm also intended to go public via a merger with an SPAC but later pulled those plans.

What they’re saying:

In a press release announcing the acquisition, Apex CEO Bill Capuzzi stated, “Our long-standing commitment to advisory has led us to adapt our world class FinTech brokerage offerings to suit the evolving needs of the next generation of financial advisors. This acquisition strategically fills a crucial gap in our platform, providing access to the most advanced, customizable, and scalable rebalancing and direct indexing solution on the market.” Capuzzi concluded, “This marks a significant milestone in our journey to empower advisors.”

Additionally, AdvisorArch’s former co-CEO (and now Apex team member) Mike Kerins said of the move, “The AdvisorArch team is excited to become part of the Apex family. Our deep integration into Apex’s RIA Custody and Execution Platform will make it seamless for traditional advisors and FinTechs to automate their rebalancing process while also offering additional services such as tax-loss harvesting capabilities and direct indexing.”

My thoughts:

Considering that Apex is used by several major FinTech brokerages (such as SoFi, WeBull, eToro, Tornado, and others), this acquisition could well mean a rollout of new features for retail investors. Therefore, I’m far more interested in this deal than I might have been otherwise. Meanwhile, I’ll also be watching to see what comes of Apex’s IPO plans.

Of course, I’m also curious to know what Apex paid for AdvisorArch and, unfortunately, that wasn’t shared. That informational absence notwithstanding, it seems like a smart deal for Apex — and a potential win for both FinTechs and customers as well.

Author

Kyle Burbank

Head Writer ~ Fioney

Kyle is the head writer for Fioney. He is a personal finance nerd, constantly looking for new apps and services to test and incorporate into his own financial game plan. In addition to his role at Fioney, he's written for other publications including Born2Invest, Lifehack, and Laughing Place, as well as his own site Money@30. He also creates personal finance and travel-related videos for Fioney's YouTube channel, which has garnered more than 2 million views. Currently, Kyle resides in Springfield, Missouri with his wife of 10 years. Together, they enjoy traveling (including visiting Disney Parks around the world), dining, and playing with their dog Rigby.

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