Placemark and United create platform

Placemark Investments, an overlay portfolio manager for separately managed accounts, has moved deeper into the registered investment adviser market with a new deal with United Capital Financial Partners Inc. Placemark, based in Dallas, manages $7.5 billion on more than a dozen managed account platforms. Its new United Capital relationship is its second significant deal in the RIA space. United Capital, based in Newport Beach, Calif., oversees $8 billion in client assets in 15 regional offices. Not all of those assets are allocated to managed accounts. Placemark will develop a unified managed account platform that will enable United Capital’s financial advisers to use pre-designed models or construct separate account portfolios for their clients, according to Lee Chertavian, Placemark chief executive. About 90% of Placemark’s business is with brokerage firms, but the latest deal suggests more emphasis on the RIA market, he said. “One of the challenges to attracting more RIA firms is getting them to understand what we do,” Mr. Chertavian said. “We think RIAs will be a very significant channel for us.” Mr. Chertavian added that Placemark is likely to announce another significant RIA relationship later this year.