Advyzon launches turnkey asset management platform

Advyzon Investment Management will provide advisory tools to manage front- to back-office operations, such as investment decisions on portfolio and model allocations, tax planning and reporting, and rebalancing tools.

Advyzon has announced the launch of a new TAMP that will offer access to a host of adviser tech tools all under one roof.

Advyzon Investment Management will help advisers outsource many front- to back-office operations, such as investment decisions on portfolio and model allocations, reporting and rebalancing functions, and tax and planning tools, according to a release.

More than nine in 10 advisers who have outsourced at least some aspects of their business reported total assets have grown as a result. Ninety-five percent of respondents also said the change meant they had a better work-life balance, according to AssetMark’s recent Impact of Outsourcing study.

The new turnkey asset management platform will also offer risk-based models, including active and passive mutual funds and ETFs, a tax-sensitive fund, as well as an environment, social and governance option. Advisers can also use direct indexing, as well as tax optimization and tax loss harvesting tools.

“As we’ve worked with financial advisers over the years, we began to see that the user experience was a bit disjointed,” Hailin Li, founder and CEO of Advyzon, said in a statement. “They began to ask us for a more seamless experience that would include all of the elements needed to create and manage portfolios for their clients with the expert research and support of a professional investment officer and administrative team.

Advyzon Investment Management will use the Advyzon platform for reporting, Advyzon’s Quantum rebalancer and Advyzon’s technology as a whole, said John Mackowiak, chief business development officer at Advyzon. “AIM will, in a sense, be eating the Advyzon cooking.”

The Advyzon TAMP will enter a crowded marketplace for adviser tech, competing with companies like Envestnet Inc., AssetMark Inc. and Orion Advisor Solutions.

Assets on turnkey asset management platforms have exploded in recent years as advisers focus on building relationships with clients instead of managing their portfolios. There is now an estimated $3 trillion in assets on TAMP platforms, a number that’s expected to increase in the coming years, according to a new report by The Wealth Advisor.

That momentum only accelerated during the Covid-19 crisis as advisory shops were locked down and advisers were forced to look to new technologies to help run their businesses.

Advyzon’s cloud-based platform already combines portfolio management, performance reporting, trading, a CRM and client billing and document storage. The turnkey asset management offering will build out other advisory functions that help run financial planning businesses all housed on a single platform.

“The [TAMP] is a direct result of listening to the advisers ,” Li said.