First Allied announces wealth management platform

First Allied Securities Inc. has high hopes for its new wealth management platform, Guided Portfolio Solutions, the first piece of which was unveiled Thursday.
JUL 31, 2009
By  Bloomberg
First Allied Securities Inc. has high hopes for its new wealth management platform,Guided Portfolio Solutions, the first piece of which was unveiled Thursday. The San Diego-based independent broker-dealer is working with Foliodynamix of New York to develop the platform that is designed to be able to compete with firms such as UBS AG, Merrill Lynch & Co. Inc. or any other firm, said Frank Campanale, chairman and chief executive of Advanced Equities Wealth Management Inc., a unit of First Allied. The first piece of the platform available for adviser use is the Fund Allocator, a managed mutual fund program that relies on market models to screen managers. Advanced Equities Asset Management Inc., First Allied's in-house money management firm, created the models. Among the components planned for later this year is a separately managed account program that can use AEAM's asset allocation models, or allow advisers to customize them for clients. Unified managed account capabilities are scheduled to be in place by yearend, covering overlay management, tactical asset allocation, ongoing manager search and selection, as well as tax optimization features. The platform would grow by one new component a month through December, said Mr. Campanale. When completed, Guided Portfolio Solutions will include everything an adviser needs to run a fee-based book of business, from the client proposal through account implementation, trading, performance reporting and ongoing support. Mr. Campanale was formerly president and chief executive of Smith Barney Consulting Group of Wilmington, Del., where he helped develop some of the first fee-based investment management systems in the industry.

Latest News

SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees
SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees

Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.

Apella Wealth comes to Washington with Independence Wealth Advisors
Apella Wealth comes to Washington with Independence Wealth Advisors

The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.

Citi's Sieg sees rich clients pivoting from US to UK
Citi's Sieg sees rich clients pivoting from US to UK

The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.

US employment report reactions: Overall better than expected, but concerns with underlying data
US employment report reactions: Overall better than expected, but concerns with underlying data

Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.

Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading
Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading

"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.