Innovayte, Advyzon Partner on a New Model MarketplaceInnovayte, Advyzon Partner on a New Model Marketplace
The custodial platform will get access to Advyzon’s third-party asset managers, while Innovayte will provide custodial and clearing services.
Custodial and clearing firm Innovayte has partnered with the technology platform and portfolio manager Advyzon to launch a new model marketplace.
As part of the launch, Advyzon created a custodial back-end platform for Innovayte. The platform combines a separately managed account and model marketplace with access to third-party asset managers that participate in Advyzon’s asset management program, Advyzon Investment Management. All these functionalities will be available through Advyzon’s unified managed account framework.
Meanwhile, Advyzon’s cloud-based technology platform will now offer a model marketplace and investment management from Innovayte’s UMA/SMA platform, in addition to its other capabilities, such as portfolio management, customizable performance reporting, client billing and SEC-compliant document storage.
The Innovayte model marketplace will provide access to third-party strategists, risk models and advisor-created models. It will also allow advisors to use rebalancing and tactical trade tools, including cash management and tax-loss harvesting. The marketplace will incorporate trading capabilities complete with tax overlay and direct indexing options. It will use an SMA/UMA structure, offering single- and multi-sleeve reporting and trading.
Founded last year, Innovayte serves indepedent RIAs and broker/dealers with between $100 million and $800 million in AUM. At the time, CEO Cat Davies said the firm planned to target younger advisors who may be more technologically advanced.
“Technology is critical to helping RIAs reach their entrepreneurial goals,” Davies said in a statement announcing the partnership between Innovayte and Advyzon. “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. We’re excited to partner with Advyzon to give our advisors all the tools they need to grow and scale.”
