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MMxCHANGE: The Future of Digital Investing

CIO VendorJoseph Miskel, EVP
Financial advisory firms and wealth managers today are utilizing digital technologies to not only protect their profits but also to build private investment communities, as opposed to relying on the traditional bundled platform services. However, the unprecedented rate of change associated with technology, evolving regulatory requirements and customer demands pose significant challenges for advisory firms seeking to manage operational cost and improve business performance. To overcome these challenges, MMxCHANGE is banking on the digital trend by providing a groundbreaking digital investment marketplace for wealth managers and advisory firms. The digital marketplace delivers independent asset management solutions in the form of digital portfolios and independent investment consulting that helps advisory firms design, build, and control customized investment platforms. “Our goal is to create a network of investment services to benefit the entire asset and wealth management industry,” says Joseph Miskel, EVP of MMxCHANGE.

Built around an unbundled open architecture, the MMxCHANGE platform allows financial firms and wealth managers to select the investment solutions they need to meet clients’ specific goals. This unique technology architecture improves control of the investment platform, simplifies compliance and enables end-users to scale their business. Unlike other investment platforms, the company’s digital marketplace utilizes a “pay-as-you-go” model, helping financial advisors and investors avoid the cost of unnecessary extra services. “MMxCHANGE is designed to support any investment ecosystem, no matter how simple or complex the business requirements,” asserts Miskel. By leveraging the digital marketplace, asset management firms can build a unique private investment inventory that is available to buyers through a private marketplace. With this, an investment firm can control the access to the inventory.



MMxCHANGE is designed to support any investment ecosystem, no matter how simple or complex the business requirements


Built to provide an Amazon-like experience where wealth managers can search, subscribe, compare and checkout the investment inventory or related services they need, the MMxCHANGE platform provides complete, customizable access in a secure digital space. Contracts, fee calculation and billing are all handled digitally within the application. With the help of standard API, the platform connects to any portfolio management system or rebalancing tool through the cloud. This allows asset managers to create an investment ecosystem that other wealth management technologies can plug into.

Miskel highlights that the objective of the digital marketplace is to empower asset managers with greater collaboration capabilities while streamlining access to products. To this end, the platform connects providers and wealth managers across the U.S., without requiring a large distribution team to act as an intermediary.

With a focus on compliance, MMxCHANGE provides a tailored approach that improves advisors’ ability to manage and control compliance requirements and regulations. With this approach, advisors can design their own custom investment strategy, track complete information related to compliance, calculate fees and easily control cost, all with improved end-to-end transparency. In addition, MMxCHANGE operates more like a logistics center in which financial firms can control all internal and external operating models related to investments and solutions in a single location. The firm also categorizes the investment inventory regarding fundamental, quantitative, quantimental, tax-managed and impact investing solutions.

Along the path of innovation, MMxCHANGE is focused on a new ecosystem for the wealth management industry. They are also providing access to independent firms who deliver digital portfolios for a wide range of research. Miskel believes that MMxCHANGE has a bright future because the concept of digital marketplaces can be extended to other industries—including insurance—that offer intangible products and services.