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Smarsh Hires Execs, AcreTrader Raises Capital, SEI Integrates IncomeConductor

Three bits of advisor technology news you may have missed over the past week.

Compliance technology provider Smarsh has announced the hiring of two new senior executives: Laurie Ehrbar moves into the role of chief marketing officer and Goutam Nadella has been named the company’s chief product officer.

Ehrbar replaces Chris Morton, who left the company in October after a little over a year as CMO. Nadella was hired to replace Greg Vesper, who has moved into the role of chief technology officer.

Ehrbar most recently served as CMO at Bizagi, a technology firm specializing in intelligent process automation. Her financial services experience includes stints at Citigroup and TD Waterhouse in the early 2000s.

Nadella most recently came from the cloud-based, communication and content-sharing platform provider Symphony. Prior to that, he spent a decade climbing the product management ranks at Goldman Sachs.

Smarsh has become a global leader in financial services compliance technology, counting nine of the world’s top 10 banks as customers. It also has a large footprint serving the wealth management industry, including many independent broker/dealers and RIA firms.

The new hires follow two major acquisitions in 2020: machine learning and artificial intelligence technology provider Digital Reasoning and the security technology provider Entreda.

AcreTrader Raises $12 Million

Farmland investing platform provider AcreTrader announced it has raised a $12 million Series A funding round. This round was led by Jump Capital, Narya Capital, Revolution’s Rise of the Rest Seed Fund and existing investors RZC Investments and Revel Partners. This brings the startup’s total funds raised to $18 million.

The company raised a seed round of $5 million just under a year ago, led by RZC, run by Steuart and Tom Walton, grandsons of Walmart founder Sam Walton.

“Over the last few months, we’ve consistently seen our offering sizes grow while our funding windows shrink, showcasing the fast-growing desire surrounding this resilient asset class,” AcreTrader founder and CEO Carter Malloy said in a statement.

The latest funds will be used to improve overall access, liquidity and transparency to farmland transactions through improved online tools, data science, marketing and expansion of AcreTrader’s team of agriculture, finance and technology experts, according to a statement.

IncomeConductor Integration With SEI

Advisors using the SEI Wealth Platform, whether via the firm’s Managed Account Solutions or Unified Managed Account platform, will now be able to feed data from the firm directly into the IncomeConductor retirement income planning suite from WealthConductor LLC.

This allows advisors to easily connect their clients’ underlying accounts into IncomeConductor. Some 7,500 advisors use SEI’s platforms, which hold $75.1 billion in advisors’ assets under management.

The deal will make it easy for advisors whose clients are already being managed on SEI’s platform to provide retirement income planning to clients without manually gathering account data.

Advisors would still need to pay for a subscription to IncomeConductor.

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