October 2, 2019

Refinitiv and SigFig partner to deliver digital advice technology solutions to wealth management clients

Suite of Digital Advice and Robo solutions now available direct-to-consumer on the Refinitiv Beta platform.

NEW YORK/SAN FRANCISCO – Refinitiv today further demonstrates its commitment to the wealth management industry by announcing a strategic partnership with SigFig, an enterprise financial technology firm that develops next-generation products for banks, advisors and their customers.  The partnership with SigFig delivers digital advice technology solutions to institutional users of Refinitiv’s BETA platform and will enable SigFig and Refinitiv to deliver an integrated, end-to-end digital advice experience for investors that allows for efficient and automated investment management.

Under the agreement, Refinitiv BETA, a clearing and custody platform, will leverage SigFig’s direct-to-consumer platform technology to create a seamless end-to-end robo advice solution, featuring account opening, automated investment management, money movement and return client experience for institutional clients. 

Joe Mrak, Managing Director and global head of Wealth Management at Refinitiv said: “Our wealth management clients are constantly looking for smart and seamless investment management services and counsel as a means of further differentiating themselves and adding greater value for their customers. By integrating SigFig’s technology, Refinitiv is able to provide its wealth management clients with an enterprise-grade, complete Digital Advice solution that we are confident will dramatically transform and improve their investing services and capabilities.”

The latest research from Refinitiv shows that the pace of digital evolution is quickening. To stay competitive and meet new client expectations, successful wealth managers must develop digital strategies to help reduce their cost burden, to increase adviser-efficiency and to better engage with their customers – whatever their starting point on the digital journey.

SigFig CEO and Co-founder Mike Sha said: “We are delighted to work with a market leader such as Refinitiv. By partnering with Refinitiv, SigFig is able to continue to expand access to our industry-leading digital management advice solutions for both consumers and advisors. By bringing new levels of speed, scalability and efficiency to Refinitiv’s wealth management business solution, we’re creating a fully integrated solution from front end client experience all the way to the back office. We’re thrilled to expand our services to even more customers and look forward to many more years of success on behalf of Refinitiv and most importantly, its clients.”

Refinitiv has a rich history of servicing the wealth management industry from front to back office. Over the last year, the firm has invested heavily in the business and is committed to bringing the most advanced solutions to the market. The ongoing transformation includes building out the firm’s digital solutions by adding Digital Advice Technology, MarketPsych Indices, Automated and Customized Advisory and End-Client Interactions and Workflows, Enhanced Cash Management Solutions to clearing and self-clearing broker-dealer clients. 

William Trout, Head of Wealth Management at Celent, said: “Industry focus on putting best-in-class digital tools in the hands of advisors underscores the importance of a robust back office in supporting end-to-end workflow. Harnessing the SigFig platform to BETA will drive a host of benefits to Refinitiv clients, ranging from productivity gains to a reduction in paper.”

Will Jan, Vice President & Lead Analyst at Outsell, said: “As robo advisory empowers more of today’s wealth management clients, a seamless digital experience is no longer an option, but an expectation.  With market news developing around the clock, the ability to deliver advice effectively to accelerate decisions becomes an important differentiator for banks and wealth managers.”

To learn more about Refinitiv Wealth Management, visit here.

About SigFig

Founded in 2007, SigFig is a financial technology company powering the future of banking for banks, advisors, and consumers. SigFig’s Wealth Management Platform provides consumers with high-quality advice and guidance regardless of wealth level. Through its partnerships with financial institutions including Wells Fargo, UBS, and Citizens Financial, their solutions are available to over 70 million consumers. SigFig has already helped millions of households gain access to personalized investment advice designed to help them achieve their goals. SigFig is backed by top-tier venture capital firms, including Bain Capital Ventures, Union Square Ventures, DCM, Nyca Partners, and General Atlantic and is headquartered in San Francisco, California. Learn more at www.sigfig.com

About Refinitiv

Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in approximately 190 countries. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community - driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime.


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