State Street's newly launched Apex-powered RIA custody unit has sizzle and 'wedge' power, especially after Pershing's Wove 'fell flat;' but to avoid fizzling, the power duo needs to steer past divergent 'segment' priorities
AI SummaryAI-generated — verify against the source.State Street and Apex Fintech Solutions have partnered to launch a new RIA custody unit, combining institutional-grade infrastructure with digital-first retail capabilities. While this offers advisors a new potential custodian option, the success of the platform depends on how well the two firms align their divergent priorities and overcome past market challenges.
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