Displaying items by tag: UMAs

Turnkey asset management platform and fintech provider GeoWealth has signed a deal to buy First Ascent Asset Management, a Denver-based registered investment advisor overseeing nearly $1.4 billion. Colin Falls, President, and CEO of GeoWealth, told FundFire that the deal is expected to close early in the second quarter. First Ascent, which also provides TAMP services, specializes in providing investment management and consulting services to independent advisors. The firm also provides non-discretionary model portfolios to technology platform providers. First Ascent will move to the GeoWealth platform and have access to its proprietary integrated tech stack, including back-office capabilities and customizable unified managed account offerings. GeoWealth’s platform includes advisor-managed models alongside a suite of third-party-manager-built models from about 40 providers, according to Falls. The firm also offers ETF model portfolios created by third-party ETF sponsors, including J.P. Morgan Asset Management. According to a news release, First Ascent’s investment offering and service model will remain unchanged, as will its flat-fee schedule. The firm charges a flat fee rate or percentage of assets under management, and annual fees range from .15% to .30% for accounts with at least $50,000.

Finsum:Managed-model providerGeoWealth is buying First Ascent Asset Management, an RIA that also provides TAMP services such as model portfolios.

Published in Wealth Management
Monday, 20 March 2023 06:02

Advyzon Launches Model Marketplace, 'Nucleus'

Advyzon Investment Management, a turnkey asset management program, announced at the recent T3 Advisor Conference, that the firm is launching its new model marketplace called Nucleus. Nucleus will be fully integrated into the comprehensive, award-winning Advyzon platform built on single source code. Lee Andreatta, CEO and co-founder of Advyzon Investment Management stated, "We're extremely excited to announce the launch of Nucleus, something that has been in the works since we launched AIM in Spring 2022. Adding a model marketplace enhances AIM's TAMP offering and moves Advyzon closer than ever to offering a fully comprehensive solution for financial advisors and investment managers to run their firms." Andreatta and his colleague John Mackowiak, Chief Revenue Officer for Advyzon, shared the news during their T3 main stage session, 'If You Think Your Tech Stack Is Optimized, Think Again: The Benefits of a Comprehensive Solution'. The Nucleus model marketplace is structured for unified managed accounts (UMAs) and will include sleeve-level reporting and trading. Financial advisors will have access to third-party strategists offered in two ways to help their businesses. The first is Advyzon traded, with advisor-built UMAs or pre-set UMA portfolios built by AIM incorporating strategist sleeves and the second is Advisor traded, with Nucleus access available in Advyzon's Quantum Rebalancer – a powerful, in-house trading and rebalancing tool seamlessly integrated into Advyzon's cloud-based platform.

Finsum:Advyzon Investment Management, a turnkey asset management program, recently announced that it is launching its new model marketplace called Nucleus, which is structured for UMAs and will include sleeve-level reporting and trading.

Published in Wealth Management
Wednesday, 11 August 2021 18:16

Fidelity’s New Model Portfolio Push


Fidelity is making a renewed push into model portfolios. After launching its first model portfolios in 2018, the firm has realized that RIAs and BDs want different types of models. RIAs use models to a great degree, but don’t tend to put a whole lot of assets in them. Fidelity realized it needed to optimize its approach. According to Suzanne Daly, Fidelity’s VP of model portfolio distribution, “RIA growth is really accelerating, and in a different manner [than IBDs] … [They are] looking to blend equity and fixed income models to build a more personalized fully asset allocated unified managed accounts (UMA) model”.

FINSUM: This makes a lot of sense. RIAs used to balk at the 25 bp fee for UMAs (which goes on top of the underlying management fees), but they have recently been coming around.

Published in Eq: Total Market

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