Asset Management Platform Of The Year: Envestnet | PMC, GeoWealth And Orion

WSR Names Envestnet | PMC, GeoWealth And Orion Advisor Solutions As Asset Management Platforms Of The Year

The WSR Wealth Exemplar Awards for Asset Management Platform of the Year go to the top three firms that have a significant presence in the wealth management industry and operate as third-party asset managers that serve B2B wealth management platforms. There is a minimum asset level of $10 billion.

Envestnet | PMC

Dana D’Auria, Co-Chief Investment Officer and Group President, Solutions, Envestnet
Dana D’Auria, Co-Chief Investment Officer and Group President, Solutions, Envestnet

With almost $347 billion on its platform as of its November Form ADV, Envestnet | PMC holds an “advisor to the advisor” philosophy, providing a range of services under the three primary categories of research, consulting and portfolios. A division of Envestnet, PMC has over 100 investment professionals and has approved over 5,000 strategies across an array of investments including separately managed accounts (SMAs), mutual funds, ETFs and alts. It presents its own models and portfolios alongside those of hundreds of other asset managers.

PMC’s services range across supporting CIOs, investment consulting, proposal and manager mapping and managed portfolios. Its portfolio solutions leverage its research, asset allocation and portfolio construction capabilities to produce multiple portfolios for strategies including active core, active income, active/passive, sustainable, multi-manager and cost sensitive, as well as active/passive portfolios focused on Invesco and Franklin Templeton funds. In May 2023, it launched a series of active/passive ETFs emphasizing cost effectiveness, transparency, liquidity and tax efficiency.

GeoWealth

Colin Falls, President & CEO, GeoWealth
Colin Falls, President & CEO, GeoWealth

Named as an Asset Management Platform of the Year for the second year in a row, TAMP and wealthtech firm GeoWealth serves over 2,000 advisors. In March 2023, the firm acquired TAMP and RIA First Ascent Asset Management, with $1.3 billion in assets, bringing the firm’s platform assets to over $21 billion and equipping it with a solution for RIAs seeking to outsource any aspect of investment management, including model and custom portfolios. The firm doubled its third-party model marketplace from 2022 to 2023.

The firm provides automation for mid- and back-office functions and streamlining for billing, performance reports, trading and portfolio accounting. It offers tools for risk management, proposal generation, account aggregation and the creation of advisor and client portals. In addition, it provides outsourced investment management including account administration and online account onboarding.

In August, GeoWealth announced a partnership with Halo Investing to provide customizable structured note portfolios as a component of a Unified Managed Account (UMA) and allow RIAs that use structured notes in UMAs to view, report and bill at the individual sleeve level.

Orion Advisor Solutions

Natalie Wolfsen, CEO, Orion
Natalie Wolfsen, CEO, Orion

With $3.8 trillion in assets under administration and $64.3 billion in platform assets as of June 30, 2023, wealthtech enterprise Orion Advisor Solutions provides a diverse array of advisor services including a TAMP provided by Orion Portfolio Solutions with a 95% client retention rate. Alongside the platform, Orion provides proposal generation, reporting, billing, the Redtail CRM, a client portal and app, and behavioral finance tools.

In addition, advisors can access strategists, build and manage UMA portfolios, provide proprietary investments from Brinker Capital, engage in custom indexing, provide high net worth SMA services and act as a portfolio manager.

In February 2023, the firm introduced tailored custom indexing technology to upgrade its customized index services, which it launched in 2018. In October, it added personalized portfolios from City National Rochdale for clients with over $1 million in investible assets, and it appointed Natalie Wolfsen as CEO, who is also Wealth Exemplar Award winner as Person of the Year. In April, it added multiple fixed income focused SMAs to the Orion Portfolio Solutions Platform.

Michael Madden, Contributing Editor & Research Analyst at Wealth Solutions Report, can be reached at mmadden@wealthsolutionsreport.com.

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