Having a great tech stack that empowers advisors and eases workflow pressures is a key differentiator for advisory firms today, and Sanctuary Wealth has just given a boost to advisors at its partner firms.
Its Sanctuary One TAMP has a new integration with BNY Pershing’s Wove platform which offers a suite of products that work together and is future proofed through a foundational framework to enable new products to be added without disruption to services.
By leveraging these products - Wove Investor, Wove Data and Wove Advisory – advisors at Sanctuary’s network of 120 partner firms in 30 states will have a more streamlined workflow and the ability to get a holistic picture of clients’ assets. The tools include analytics, portfolio construction, trading and rebalancing, proposals, and a client portal.
"Having the right technology partner as Sanctuary continues to add scale through organic growth, strategic acquisitions and ongoing partnerships with elite wealth management firms is critical to creating exceptional advisor and client experiences,” said Bob Walter, president, Sanctuary Wealth. “With its seamless integration of technology tools into a single, data-driven interface, Wove platform allows our partners to elevate their wealth management offering. We’re excited to collaborate on the launch of Wove, to enhance our offerings and empower our partner firms to do more for their clients.”
The RIA aggregator announced earlier this year that Robert Coppola had joined from Envestnet as its new chief technology officer with a remit including overseeing the advancement of Sanctuary One, the fee-for-advice platform Sanctuary Open, and the advisor workstation Haven.
The roll out of the expanded and enhanced Sanctuary One follows a successful pilot program. Kevin Pearly, founding partner and private wealth advisor at SkyPath Private Wealth was one of those involved in the pilot and says it addresses a common technology issue for independent advisors.
“Independent advisors have access to up-to-date and cutting-edge technology, however, often these applications do not communicate with each other,” he said. “Wove is designed to solve for this by bringing these tools together, providing financial advisor teams the potential to focus more time on personalized client engagement, strengthening relationships and driving business growth.”
By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.
JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.
Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.
The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.
Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
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.
