AlphaTrAI, a technology solutions provider for the wealth and asset management industries, has rebranded itself as Praxis Solutions. Along with the name change, the firm has also made a strategic shift in its value proposition and will focus on ensuring a unified client experience built around “Think. Make. Do.” In practice, the company will concentrate on delivering vertical expertise throughout the client engagement continuum, deploying business process experts on the front end, scientists to build algorithms and technology operations specialists to implement and integrate solutions with clients’ existing tech stacks.
Praxis Solutions CEO Bill Dwyer said, “Over the past two years, we’ve reorganized, built and brought on board additional resources to deliver a high-quality, all-inclusive framework that helps stakeholders identify areas of opportunity, develop tech-enabled programs and implement them. This allows our clients to operate more efficiently and effectively within an increasingly competitive environment. Praxis delivers the technologies and the critical application and support of those tools that enable asset and wealth managers to support their unique business needs.”
2024 has seen Praxis acquire Anchor Advisory Services, a scheduling, sales management and consulting solutions provider for financial services companies and the appointment of industry veteran John Sweeney as president. These actions were taken alongside other moves taken by the firm, including an expansion of its leadership team and board, a broadening of core competencies and the elimination of unnecessary business lines. The firm reports that while its rebranding and realignment represent a strategic shift in direction, its evolution in focus builds upon AlphaTrAI’s roots in artificial intelligence.
Dwyer, a seasoned wealth management executive, added, “There has been an explosion of fintech SaaS providers in the marketplace. However, without the skills to customize and implement the solution for each business and the expertise to operationalize it, optimal solutions for our industry have been out of reach. We’re bringing together these elements into an integrated solution.”
Praxis board member Dr. Henrik Christensen said, “The past 30 years in technology were all about mass production, and the next 30 years will focus on mass customization. Praxis’s engineering and industry leaders have been deeply involved in these trends over the past three decades and position our team to take full advantage of this next wave to benefit the wealth and asset management industries.”
