Chicago-Based Fintech Firms Offer RIAs Access To Customizable Note Portfolios As Component Of UMAs, Along With Ability To View, Report And Bill At The Sleeve Level
A new partnership between Chicago-based fintech firms GeoWealth and Halo Investing enables GeoWealth to provide customizable structured note portfolios as a component of a Unified Managed Account (UMA). Halo’s structured notes tool enables RIAs to deploy and manage structured note exposure to client portfolios and model programs.
GeoWealth’s proprietary sub-accounting software also will allow RIAs that use structured notes in UMAs to view, report and bill at the individual sleeve level. On Sept. 20, GeoWealth and Halo will host a joint webinar and demonstration on the new capabilities.
“This partnership with Halo is another step forward in our mission of creating the UMAs of the future,” said Colin Falls, President and CEO of GeoWealth. “Partnering with Halo and leveraging their protective investment solutions allows GeoWealth users more flexibility in customizing models at scale.”
GeoWealth’s turnkey asset management platform (TAMP) and open architecture technology is designed to offer advisors access to model portfolios as well as offload middle-and back-office responsibilities. As of Dec. 21, 2022, GeoWealth had approximately $20 billion in platform assets, according to a spokesperson. Its acquisition of First Ascent Asset Management, announced in March, was expected to add another $1.3 billion in platform assets.
Halo Investing connects advisors with providers of structured notes, buffered ETFs and annuities; allows advisors to create custom structured notes; as well as offers digital tools and education resources. It works with more than 40 global banks and insurance partners, and has had over $12.5 billion in transactions since inception in 2015. The firm has more than 100 professionals, with offices in Abu Dhabi and Zurich.
“Halo is on a mission to close what we call ‘The Risk Management Gap’ – the difference that we’ve seen between institutions and retail investors in their ability to reduce risk, add diversification and improve their overall risk-adjusted performance, which can lead to better outcomes,” said Halo CEO Matt Radgowski. “We foresee a rising demand for structured notes and hedged equity strategies in the years ahead, and by joining forces with GeoWealth, we are equipping RIAs with tools and capabilities to stay ahead of this growing market trend by incorporating notes into models.”
Last week, Stamford, Connecticut-based NewEdge Wealth launched a third-party investment platform – called NewEdge Investment Solutions – to provide financial professionals and institutions with access to the same strategies that the RIA uses with its own clients. Its strategies include investing in structured notes and developing managed investment strategies that use them.
Luma Financial Technologies, which demonstrated its platform at the Morningstar Investment Conference held in Chicago back in April, provides access to its portfolio analytics for structured products within Morningstar’s Advisor Workstation. Luma provides tools to help financial professionals learn about, transact and manage alternative investments in client portfolios, such as off-the-shelf and customized structured notes, as well as annuities.
Chris Latham, Managing Editor at Wealth Solutions Report, can be reached at email@example.com