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Big news in the fintech sphere this week – from Orion’s newest acquisition to some controversial comments from an industry commentator about ARK Invest 👀
You know we’ve got all your need-to-knows, and some great jams to kick off your weekend!
Is it harmful for investors when ARK Invest’s Cathie Wood talks about how she expects her fund’s performance to go up?
Industry commentator and attorney Max Schatzow thinks so, and his opinion piece in CityWire argues that Wood should face enforcement action from the SEC for her bravado.
Wood is one of the most prominent and outspoken fund managers around today, so when she speaks it carries weight in many circles. But as you know, knowing what to say and what to say can be a very fine line (which is why most advisors err on the side of not saying anything in their marketing).
It may not seem fair that Wood can be as outspoken and positive as she is, while the average RIA can get easily dinged for using hypothetical performance numbers that don’t live up to reality.
The greater harm is probably not from Wood herself; rather, it is in how truly bad actors may be emboldened by her words to cross the line and intentionally harm investors they have in their more immediate circles.
Should that fear result in Wood and ARK getting a slap on the wrist for being (albeit, aggressively) good salespeople? We won’t wade into those waters, but we will be watching ARK closely to see what happens.
And She Thought We Woodn’t Notice
This week’s news in Fintech acquisitions is a stone cold stunner.
And best of all, it’s playing out right in the Three Crowns backyard with Orion, located right here in Omaha. The popular (and increasingly massive) comprehensive wealth management platform/TAMP announced the acquisition of Redtail – by all accounts, the most popular CRM for advisors.
The two have long been close partners, but Redtail almost seemed too big to buy.
This move is the latest in a series of acquisitions that Orion has made to fully expand its technology platform to include every piece of the puzzle. After acquiring risk tolerance and financial planning tools, Redtail’s CRM is the last thing Orion needed to offer that true, best-in-class and end-to-end experience.
And perhaps most important of all, Orion gets Brian McLaughin, the founder and genius behind Redtail. A titan in the industry, his deep expertise should help this integration go more smoothly and avoid some of the tech hang-ups that most acquisitions experience.
If Envestnet wasn’t already looking in their rear view mirror at Orion, this move puts Orion squarely in the “objects in the mirror are closer than they appear” territory.
It Takes Two to Make a Thing Go Right
File this one away for the next time you have to write a landing page. We love practical step-by-step guides, and this one covers everything you could need to optimize your landing page for conversions.
Borrow a Page From This Book
Zach McDonald, President & CMO
“I just love this song.”
Johnny Sandquist, Founder & CEO
“no comment, just music.”
Connor Brandt, Graphic Designer
“Really digging this new song from The Real Zebos.”
Justine Young, Content Writer
“This one wasn’t popular in the office – some people just don’t know art when they hear it.”
Amber Froendt, Project Manager
Keep up with all of our picks of the week over time with the Three Crowns Mixtape on Spotify.
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