Financial technology platform 55ip reached new records for platform adoption, custom models, tax savings, and company growth last year. The 2022 tax savings benefit for model portfolios of ETF and Mutual Funds was a record 2.70% (2.66% when annualized since 2020). In addition, market-driven demand helped increase the number of advisory firms on the 55ip platform by more than 50%, to 234 firms, which represents $234 billion in discretionary assets under management for 2022. Individual advisors that partnered with 55ip grew by 122%, while the growth of custom models on the platform increased by 134% from 2022. They now comprise 45% of all assets on the 55ip platform. The demand for personalization among advisors also increased, which led the firm to significantly increase the output of custom models. Paul Gamble, Chief Executive Officer of 55ip, stated “We’re incredibly proud of the increased value we provided last year to our clients. The growth we experienced demonstrates that our value goes well beyond tax savings benefit to investors, which reached an all-time high last year. We doubled our trade volume last year as well, completing more than 1.8 million trade orders on behalf of our advisors. That translates to more than 500 hours in time saved for each firm using our platform – a benefit that is invaluable to advisors.”

Finsum:The demand for personalization among advisors increased last year, which led 55ip to significantly increase the output of custom models while driving new records for platform adoption, custom models, tax savings, and company growth.