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Wormus on WealthTech: Is SMArtX a FinTech or a TAMP?

SMArtX CTO Aaron Wormus recently joined Craig Iskowkitz, the founder of Ezra Group and a well-known fintech expert, on his podcast WealthTech Today. Centered around examining the inner workings of the SMArtX technology, the conversation gets to the heart of what makes SMArtX different from other TAMPs and technology solutions in the advisory industry.

But first, let’s answer the question that Craig wanted to clarify right off the bat: What exactly is SMArtX?

FinTech or TAMP?

SMArtX is, in fact, a FinTech solution first and foremost. While SMArtX does offer an out-of-the-box solution that most closely resembles a TAMP, identifying as a FinTech is a key part of the firm’s identity that most closely aligns with how to support advisors, managers, and other users.  

The SMArtX superpower is strong engineering around core competencies. That means a direct focus on providing a one-of-a-kind experience for advisors and managers that fits in easily with the rest of the existing technology stack—without pigeonholing users into every component of SMArtX’s full-service offering.

The differentiation is both a single sign-on experience and a beautiful user interface with integrations through core components via APIs or web components. But what does that actually mean?

Integration & the Value of Open Architecture

On the podcast, Aaron and Craig went on to discuss SMArtX’s core component integration, allowing users to pick and choose which parts of SMArtX’s technology they need, and to integrate it into their existing infrastructure. Unlike other FinTech firms that are vying to be the sole platform for advisors and managers, SMArtX recognizes the value in providing users with choice.

This open architecture model allows SMArtX to remain unbiased about other technology platforms that advisors and managers may want to leverage in their practices.

While the term “open architecture” has become a buzzword in FinTech today, Aaron explains that SMArtX sees it as an opportunity to hone in on a highly specialized service: UMAs and managed account trading. 

Providing users with a choice to integrate into their platforms affords the opportunity to fully own the client experience. It also uniquely separates them in the managed account technology arena. 

Powered by Incredible Technologies

Of course, it wouldn’t be possible to provide users with the experience they’ve come to know and love without technologies that move the needle. A technology expert, Craig was interested in learning about some of the efforts SMArtX uses to deliver to trades, integrate more seamlessly with other platforms, and provide an amazing client experience. Aaron highlighted several platforms, including AWS, Flyer Technologies, Serverless, QuickSight, and Redshift.

These technologies empower better management of data from several sources and provide users with actionable views no matter which integrations they use. AWS, QuickSight, and Redshift power the visualization engine that provides ready-to-use analytics to customers.

Data is the heart and soul of SMArtX. Clients should always have the data they need at their fingertips so they can make confident decisions quickly and efficiently. And without the technology solutions that Aaron discussed in detail on the podcast, that would not be possible. 

Listen to Aaron Wormus & Craig Iskowitz at WealthTech Today

This recap just scratches the surface of the full conversation between Aaron and Craig. 

If you’d like to learn more about SMArtX and its technology infrastructure, check out the full episode. Head over to WealthTech Today or download the episode wherever you listen to your podcasts.