kaChing continues to expand its asset advisory marketplace by broadening its offering a turn-key backoffice solution. It’s a smart move for the firm: Connecting retail investors with smaller/newer asset managers requires a broad service offering that helps some of these smaller managers with the resources required to run their businesses.
Launched as kaChing Pro, the service provides investment advisors on kaChing with
- a custom website
- client analytics
- portfolio analytics
- block allocation (allocate trades across multiple client accounts)
For most asset managers, the economics of the business don’t make it worth the time and money to bring on small account holders. Beyond that, back office costs are significant and kaChing Pro should help here. kaChing’s scale and services should obviate some of the growing pains while opening up aspiring managers to new sources of money.
Win-win with this launch and ups the ante in the race for assets and advisors for competitor, Covestor.