Citigroup's wealth division has struck a deal with wealthtech firm Advyzon to build a unified managed account program for clients across much of the world – the latest in a series of outside partnerships aimed at closing the gap between Citi's investment infrastructure and that of its largest rivals.
Under the agreement announced Tuesday, Advyzon Enterprise Solutions and Advyzon Investment Management will provide the technology platform for a global UMA program for Citi Wealth clients.
The initial rollout is set for the fourth quarter of 2026 and will serve clients across Citi Private Bank, Wealth at Work, and Citigold and Citigold Private Client groups. Regionally, the program will span North America, Latin America, Europe, the Middle East, Africa and Asia-Pacific.
The program is designed to consolidate Citi Wealth's existing investment products – ETFs, mutual funds, separately managed accounts and alternatives – into a single account structure. Clients will receive a single agreement, a unified fee, and consolidated reporting, along with multi-currency capabilities and access to both onshore and offshore investment structures.
The offering will also incorporate views from the bank's Chief Investment Office and fold in Citi Portfolio Solutions powered by BlackRock, a separately managed program that was first announced last September in which BlackRock took over management of roughly $80 billion in Citi client assets.
Advyzon, a Chicago-based platform that serves more than 2,500 wealth management firms, was selected through what the Tuesday release describes as a competitive search. The firm's technology stack covers model management, a manager marketplace, tax overlay and direct indexing, trading, portfolio modeling, rebalancing, billing and reporting – all built on what the companies describe as an AI-enabled, multi-currency, multi-jurisdictional architecture.
Keith Glenfield, Citi Wealth's head of investment solutions, said the program is "truly an industry innovation and a unique investment program, considering the global reach and combination of capabilities," adding that clients will be able to access the bank's investment offerings through "a simplified and personalized investment program."
Hailin Li, Advyzon's founder and chief executive, said the firm is "proud to partner with Citi Wealth on creating one global advisory platform that unites prospecting, account opening, unified management account/household, client reporting and custodial capabilities."
The deal arrives as Citi works to close a wide competitive gap in wealth management. Andy Sieg stepped in to head Citi's wealth division in 2023 after serving as president of Merrill Lynch Wealth Management. He has since pushed the bank to shift from lending-centered revenues toward recurring investment income.
Last year, Sieg acknowledged publicly that the bank's managed assets platform "needs work to adjust, so that we can deliver the kind of unified managed account experience that U.S. investors and, increasingly, investors around the world are looking for." The Advyzon agreement is a direct response to that gap.
The scale of Citi's challenge remains visible in the numbers. The bank's private bank generated $2.7 billion in revenue in 2025 – up 12% year over year – but JPMorgan's private bank brought in more than $12 billion over the same period. Net new investment assets, which Sieg has described as his "north star" for the wealth division, fell 11% year over year to $15 billion in the first quarter of 2026, even as total client assets grew 9% to $1.19 trillion.
Overall, Citigroup posted its strongest revenue quarter in at least a decade to open 2026, with total revenue hitting $24.63 billion. CEO Jane Fraser is expected to update investors on the company's restructuring progress at an investor day event next month.
For Advyzon, the Citi partnership is a significant expansion beyond the RIA market where the firm built its name. The company has ranked first in client satisfaction among all-in-one platforms for nine consecutive years in the T3/Inside Information Software Survey, and Advyzon Investment Management ranked first in client satisfaction among turnkey asset management programs in the most recent edition.
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