2 cool fintech tools at FinovateFall

Startups presented a souped-up platform for retirement plan advisors and a family budgeting tool for financial services firms to use with clients.

Startups from across the U.S. were among the many companies who used the FinovateFall conference in New York on Tuesday to demonstrate financial services technology targeted at advisors, banks and individual investors.

Two standouts were BidMoni, based in Moss Point, Mississippi, and Wallit, based in Portland, Maine.

RIA BidMoni spotlighted enhancements made to its FiduciaryShield automated platform that launched last year for the retirement plan market. Since launching in summer 2018, it has been “steadily opening up the defined contribution space marketplace to fee-based advisors,” according to the company. The enhancements demonstrated at FinovateFall were designed to further enable advisors to grow their 401(k) businesses while better supporting industry requirements to monitor and document processes, it said.

The platform will “go beyond helping advisors connect with plan sponsor employers by identifying major risk factors in plans and presenting multiple solutions to remedy any problems that are discovered,” BidMoni said.

 

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