Custodial and clearing firm Innovayte has partnered with technology platform and portfolio manager Advyzon to launch a new model market.
As part of the launch, Advyzon created a protection platform for Innovayte. The platform combines a separately managed account and model market with access to third-party asset managers participating in Advyzon's asset management program, Advyzon Investment Management. All of these functions will be available through Advyzon's unified managed account framework.
Meanwhile, Advyzon's cloud-based technology platform will now offer a model market and investment management from Innovayte's UMA/SMA platform, in addition to its other capabilities such as portfolio management, customizable performance reporting, client invoicing and document retention in accordance with the SEC.
The Innovayte model marketplace will provide access to third-party strategists, risk models, and models created by advisors. It will also allow advisers to use rebalancing and tactical trading tools, including cash management and tax loss harvesting. The market will include trading capabilities complete with tax overlay and live indexing options. It will use an SMA/UMA structure, offering single and multi-sleeve reporting and trading.
Founded last year, Innovayte serves independent RIAs and broker/dealers with between $100 and $800 million in AUM. At the time, CEO Cat Davies said the firm planned to target younger advisers who might be more technologically advanced.
“Technology is critical to helping RIAs achieve 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 diverse needs of the industry. We're excited to partner with Advyzon to give our advisors all the tools they need to grow and scale.”