Vise, the technology platform that allows financial advisors to build custom portfolios for their clients in minutes, is partnering with Vestria Capital, a new RIA accelerator led by Paul Hatch that provides flexible capital to growth-oriented firms. A 30-year veteran of the financial advisory industry, Mr. Hatch is the former Vice Chairman of Morgan Stanley Wealth and also was Group Managing Director and Head of Investment Products and Services for the Americas at UBS.
In signing on for the partnership, Mr. Hatch plans for all advisors that join the Vestria network to have access to Vise to drive growth with automated portfolios tailored to their clients’ life goals and personal values.
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The news comes at a time when many advisors are breaking away from large firms and striking out on their own. According to McKinsey, more than 1,600 advisors join the RIA channel annually, and more than 700 new independent RIA firms are created each year. At the same time, with inflation at a 40-year high and interest rates through the roof, consumers face a period of sustained volatility. That means they need better access to financial advice and strategies more than ever.
This ever-expanding group of independent advisors needs technology to build out their businesses and help them thrive. The partnership between Vise and Vestria will support RIAs by offering an out-of-the-box option for customized, automated portfolios with low account minimums.
“Vise and Vestria are aligned on the mission to increase access to personalized, automated, and intelligent investments across all asset classes,” said Vise CEO Samir Vasavada. “This is a critical partnership for us as we continue to roll out our technology to financial-planning focused RIAs who not only want to level the playing field, but also capitalize on opportunities to drive their businesses forward in a time of market turmoil.”
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By the end of the year, Vestria expects to onboard many advisors representing significant assets under management. Mr. Hatch sees Vise’s technology as a differentiating benefit his new company can offer advisors that come on board.
“Financial advisors help their clients through all stages of their lives and manage a substantial amount of our nation’s wealth, but much of the technology available to them is outdated and not designed to address today’s challenges,” said Mr. Hatch. “Vise’s ability to build personalized portfolios in minutes, while also taking a lot of the manual legwork off of advisor’s plates, makes it a game-changing tool Vestria’s RIAs will be excited about.”
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