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Praxis Solutions Takes Strategic Leap by Acquiring WEALTHAWK

Praxis Solutions has recently announced a strategic expansion through the acquisition of WEALTHAWK, an award-winning platform renowned for its innovative lead generation capabilities tailored for financial advisors. This acquisition marks a pivotal moment in Praxis's commitment to enhancing the way financial professionals connect with potential clients during critical financial transitions.

Advancing Financial Guidance with AI Technology

WEALTHAWK employs advanced artificial intelligence to identify crucial events in individuals' financial lives, commonly referred to as "money-in-motion" events. These moments can range from initial public offerings (IPOs) to estate transitions, and more. By pinpointing these key instances, the platform enables advisors to reach out to clients right when they need expert financial guidance the most.

The significance of this acquisition is underscored by WEALTHAWK's accolades, including the prestigious Innovation Award in Lead Generation Technology from Financial Planning. The platform has received widespread recognition from industry thought leaders, notably Michael Kitces, who highlighted its unique positioning within the evolving landscape of financial technology.

Shaping the Future of Financial Advisory

Bill Dwyer, Executive Chairman of Praxis and a notable figure in wealth management, expressed the importance of marrying technology with expertise to address the challenges faced by financial advisors. He stated, "Software alone cannot solve the advisor growth challenge. Adding WEALTHAWK to Praxis combines breakthrough technology with a leadership team that has decades of experience in helping advisors grow."

Praxis is not just acquiring technology; it is bringing on board a team with a wealth of experience. This includes industry veterans such as Bill Dwyer, who played a crucial role in developing one of the largest distribution organizations in U.S. wealth management history at LPL Financial, and Charlie Shaffer, who has extensive experience in institutional and retail distribution, especially in technology solutions.

WEALTHAWK's Innovative Approach

Founded by Lori Thiel, WEALTHAWK was at the forefront of leveraging AI technology to capitalize on potential money-in-motion events. Thiel shared her excitement about the transition, emphasizing the depth of industry knowledge and technological expertise that Praxis possesses. "I could not imagine a team with deeper industry knowledge and technology expertise to lead WEALTHAWK into its next generation," she stated.

The synergy between WEALTHAWK's pioneering technology and Praxis Solutions’ robust distribution capabilities sets the stage for a transformative approach in lead generation for financial advisors.

Enhancing Advisory Services with Data

With over 400,000 prospects already cataloged in WEALTHAWK's database, the integration promises to provide advisors with precise tools to identify and connect with clients during pivotal financial moments. This capability is particularly vital in an industry where timing is crucial, and understanding clients' evolving needs can substantially shape the advisory relationship.

Praxis Solutions, recognized as an AI-driven, tech-enabled services firm, specializes in serving the wealth and asset management sectors. By expanding its offerings through WEALTHAWK, Praxis aims to empower financial institutions with enhanced transparency, access, and security for investors.

Conclusion

The acquisition of WEALTHAWK not only signals a substantial growth opportunity for Praxis Solutions but also presents a compelling development for financial advisors navigating the complexities of client acquisition. As the wealth management industry continues to evolve, this strategic move positions Praxis at the forefront, merging innovative technology with unmatched industry experience. With WEALTHAWK, advisors can anticipate a new era of client engagement, driven by data and timely insights that cater to the nuanced financial journeys of their clients.