The company also obtained a minority ownership stake in FCF Advisors as of last month, the New York-based boutique asset management firm and index provider Shea previously led.
Savvly's new pooled equity index fund has some similarities to a tontine, an investment that pays out at higher amounts as other participants die or withdraw early.
Smaller brands still have an opportunity to differentiate through investment comparison tools, immediate access to client information and access to information on ESG issues.