AlphaTrAI Rebrands as Praxis Solutions to Deliver Integrated Technology Solutions to Marketplace
Bill Dwyer-led enterprise completes realignment initiative positioning firm to fill tech solutions void in wealth and asset management industries
SAN DIEGO, Oct. 15, 2024 /PRNewswire/ — AlphaTrAI, a leading provider of tech-enabled services for the wealth and asset management industries, today announced the completion of a rebranding effort and the implementation of a strategic shift in its value proposition. The newly resulting firm is called Praxis Solutions (“Praxis”).
The reorganized firm will deliver a unified client experience built around the concepts of “Think. Make. Do.” The company’s unique approach encompasses 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 CEO Bill Dwyer said, “Our company was born of the merger of vertical expertise and the application of advanced, customized technology solutions. 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.”
The firm’s new name and direction culminate a two-year undertaking that built upon AlphaTrAI’s roots in artificial intelligence to merge the equally necessary but often segregated components of the tech creation and implementation process: ideation and execution. The name is rooted in Greek philosophy and utilized across academia—and often is simply defined as the process of thinking, making and doing.
Dwyer, a highly regarded executive with decades of diverse experience in the wealth management industry, 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 and Distinguished Professor of computer science at the Department of Science and Engineering at UCSD, 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.”
The Praxis launch comes on the heels of the August 2024 acquisition of Anchor Advisory Services, a premier scheduling, sales management and consulting solutions provider for the financial services industry. Anchor makes over two thousand weekly calls to RIAs, providing Praxis unique feedback to inform its support for wealth and asset managers. In April, the company named John Sweeney its new president. Sweeney took on this role to utilize his more than three decades of leadership experience, deep industry expertise and technological capabilities to oversee the firm’s strategic evolution and rebrand.
This acquisition and appointment, along with internal actions taken by the firm, including an expansion of the firm’s leadership team and board, a broadening of core competencies and the elimination of unnecessary business lines, positioned the firm to move forward with its re-organization and rebrand.
About Praxis Solutions
Praxis Solutions is a San Diego-based technology-enabled solutions provider. We transform the businesses of wealth and asset management firms. Combining deep industry experience with advanced technology, we help firms improve deliverables and lower costs. For more information, please visit www.praxissolutions.com.
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