Milemarker, a fintech company specializing in wealth management technology, has launched a comprehensive suite of data solutions designed to empower financial advisors with AI-ready capabilities. This initiative is timely, as a recent Accenture study highlights that 83% of financial advisors believe AI will significantly impact client-advisor relationships, yet many lack the necessary data infrastructure to leverage AI effectively.
The new offering includes a technology audit, data strategy service, and the proprietary Milemarker Data Model. These tools aim to help advisors optimize their data ecosystems by integrating and centralizing data from various sources such as Portfolio Accounting Systems, Financial Planning Systems, CRM systems, and Custodians. Milemarker partners with leading cloud providers like Snowflake, Amazon Web Services, Microsoft Azure, and Google Cloud to deliver robust data management capabilities.
At the heart of Milemarker's solution is the Milemarker Data Model, a proprietary framework tailored for wealth management firms. This model enables financial institutions to connect all their data sources in a unified system, ensuring scalability and relevance. Kyle Van Pelt, CEO of Milemarker, emphasizes the strategic importance of this offering, stating it creates clarity and strategy for firms stuck in fragmented data cycles.
Milemarker's holistic approach includes technology audits, a data strategy roadmap, and data warehousing solutions, aiming to position financial advisors for success in an AI-driven industry. The platform, Firm Intelligence, integrates with major wealth-tech platforms, offering advisors a single source of truth for their data and AI-ready data to unlock deeper client insights.
Jud Mackrill, Co-founder and Partner at Milemarker, points out the practical benefits of their solution, highlighting the need for clean, actionable data to access AI's benefits. As the wealth management industry evolves, Milemarker's innovative approach to data management and AI readiness positions it as a key player in driving technological advancement, helping advisors enhance their technological capabilities and drive business growth.
