Leading wealth tech provider Advyzon is looking to help RIAs take their high-net-worth and ultra-high-net-worth investment management services to the future with its latest partnership.
Advyzon has teamed up with Innovayte, one of the newest custodial and clearing firms on the scene, to introduce a new integrated solution for the financial advisory industry.
The collaboration marks the launch of a platform designed to address the evolving needs of advisors serving high- and ultra-high-net-worth clients.
“Technology is critical to helping RIAs reach their entrepreneurial goals,” Cat Davies, the CEO of Innovayte with experience from Fidelity and Schwab, said in a statement. “To truly empower advisors, we needed a new and fresh technology solution, not the same archaic legacy systems that fail to address the industry's diverse needs.”
Innovayte is a new kid on the wealth tech block, having launched just in October last year. The firm is focusing its efforts on addressing the needs of smaller RIAs, mainly those in the $100 million to $800 million AUM range, though Davies has said it would also consider working with smaller ones with $25 million in AUM.
The new platform, developed exclusively by Advyzon for Innovayte, is touted as the first custodial back-end solution that integrates SMAs, a model marketplace, and access to third-party asset managers through Advyzon’s TAMP, Advyzon Investment Management.
Underpinned by a robust UMA framework, it promises to empower advisors to manage portfolios with greater flexibility and efficiency. It’s also billed as the only technology capable of effectively servicing HNW and UHNW clients, with a rebalancing tool that supports tax-loss harvesting, location optimization, and cash management.
Lee Andreatta, CEO of Advyzon Investment Management, expressed full confidence at the platform, describing it as “the custody, clearing, and investment management platform of the future.”
“When Innovayte approached us about a partnership, we jumped at the opportunity to help usher in a new era for financial custody and clearing, plus investment management,” he said.
“Unfortunately, most firms use outdated technology, and we hope this partnership helps push the entire industry forward," Andreatta said.
Operational drag between an advisor signing and accounts going live is emerging as a competitive liability for wealth management firms.
Bain says companies face a "winner's paradox" as AI transformation collides with complex integrations.
Deal lifts global assets to roughly $523 billion under management.
Choice anxiety, prestige bias, and the temptation to make selections based on outsourced confidence are just some of the parallels between investing and the world of wine tasting.
Regulators found Bank of America's monitoring software had a known flaw Merrill left uncorrected for years.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
