Press Release
  •  12/16/2021

SIMON Integrates with Rowboat Advisors’ Cutting-Edge Portfolio Optimization Software to Enhance Portfolio Allocation Tool for Wealth Managers

The integration amplifies SIMON’s digital analytics offering to power portfolio analytics needs for risk-managed and alternative investment solutions

SIMON Markets LLC (SIMON), today announced an integration into its proprietary portfolio allocation tool, SIMON Spectrum, of a powerful optimization engine built by Rowboat Advisors, Inc. (Rowboat) to elevate the tool’s intelligence and reach. SIMON Spectrum is a multi-dimensional framework that analyzes investments beyond traditional standards of risk and reward, illustrates the impact risk-managed and alternative investments can have in portfolio allocation, and measures how well investments align with client objectives.

The announcement gives further momentum to SIMON’s longstanding commitment to delivering digital analytics that power informed, efficient decision-making in wealth management. As SIMON Spectrum rolls out to SIMON’s larger clients via API connectivity, it will offer major networks of financial professionals a visual, digital way to explore how specific investment types—including structured investments, annuities, and alternatives—affect portfolio traits and performance. The proprietary tool gives professionals a detailed and easy-to-understand analysis of their client portfolios, encouraging more productive client conversations.

“Layering SIMON Spectrum with the flexible, customizable software that Rowboat offers brings us one step closer to becoming the go-to solution for portfolio construction,” commented Raymond Lam, Chief Technology Officer at SIMON. “We evaluated multiple software tools in our search for additional horsepower and quickly realized that Rowboat’s solution was not only highly sophisticated, but also purpose-built specifically for the wealth management space and architected to evolve as we adapt our platform’s functionality to client needs and opportunities in the future.”

“We are delighted to partner with SIMON to help scale and deliver portfolio optimization tools that empower financial professionals to create truly personalized portfolios that include a diverse mix of assets,” said Iraklis Kourtidis, CEO of Rowboat Advisors. “Together, we look forward to bringing industry-defining solutions that help advisors meet the growing needs of clients in an evolving market landscape.”

About Rowboat Advisors

Rowboat Advisors was founded by Iraklis Kourtidis in 2016 to create the most sophisticated account management software in the wealth management industry. Its dedicated team has over 20 years of experience each in investment technology from the world’s leading financial institutions. Rowboat Advisors software allows wealth management technology firms, financial institutions, and financial advisors to better tailor and customize investment outcomes. Prior to founding Rowboat Advisors, Kourtidis was the lead engineer who built the first fully automated version of direct indexing with tax loss harvesting for Wealthfront in 2013.

The Rowboat Core Investing Engine is a fast portfolio optimizer, with built-in tax-smart investing strategies such as rebalancing, portfolio migration, and direct indexing with tax-loss harvesting and ESG. The Rowboat Backtester simulates and presents after-tax performance of personalized portfolios, using the most rigorous tax calculations available in the industry.

The company is headquartered in Menlo Park, CA. To learn more, visit www.RowboatAdvisors.com.

About SIMON

An award-winning fintech company, SIMON is committed to transforming the digital experience for financial professionals, enabling them to better serve their clients. SIMON’s intelligent and innovative platform delivers an end-to-end digital suite of tools to more than 100,000 financial professionals, who serve $5 trillion in client assets, empowering them with on-demand education, an intuitive marketplace, real-time analytics, and lifecycle management.

With a focus on reshaping the advisor experience, SIMON is setting new industry standards, simplifying the complex, and delivering structured investment, annuity, and defined outcome ETF solutions to investment professionals, centralized within one unique ecosystem.

Originally incubated within Goldman Sachs, SIMON launched as an independently operating company in December 2018 under the shared ownership and direction of seven leading financial institutions—Barclays, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Prudential, and Wells Fargo. Growth equity firm WestCap became an investor in 2021. The company is headquartered in New York, NY, with an additional location in Birmingham, AL.

For more information about SIMON, visit www.simon.io and follow the company on Instagram, LinkedIn, and Twitter. Securities products and services offered by SIMON Markets LLC, a broker-dealer registered with the SEC, Member FINRA / SIPC. Annuities and insurance services provided by SIMON Annuities and Insurance Services LLC.

Read the release on businesswire.com.

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