Companies collaborate to offer advisors greater flexibility and customization to meet clients’ investment objectives and risk profile
Tegra118, a top provider of wealth and asset management technology and Motive Partners company, today announced that Raymond James Asset Management Services, a division of Raymond James Financial, Inc., will utilize Tegra118’s technology to offer advisors greater customization and enhancements in managing clients’ unified managed accounts (UMAs) as part of their new Portfolio Select UMA offering.
“Tegra118 supports our existing UMA, SMA and MFA programs, and their unique perspective makes them the right partner in helping our advisors take greater control with additional UMA sleeves, capabilities, and the connectivity needed to help them better serve investors,” said Erik Fruland, President of Raymond James Asset Management Services. “Tegra118’s expertise and leadership in UMA account programs is well-known in the industry, and their technology provides the scale and performance we’re seeking to meet our clients’ needs. We are excited for the pilot launch of our Portfolio Select UMA. “
Raymond James Asset Management Services will utilize Tegra118’s Unified Wealth Platform and its integrated model management technology in portfolio construction within a UMA tool set for an expanded product offering. This gives advisors more choice and the ability to pick from an extensive library of model portfolios based on a client’s personal goals and risk profile, and the ability to add multi-layered sleeves into UMAs where they can be more efficiently managed. The result is a truly customized UMA experience for both advisors and their clients with the ability to change allocations with more discretion into how the portfolio is constructed.
Tegra118’s industry leading UMA capabilities enable advisors to intuitively incorporate diverse investing strategies and models into one unified account. UMA accounts offer clients the benefits of elevated investment diversification while simultaneously streamlining the overall client experience. UMA’s help advisors deliver greater value to their clients which can result in better investing outcomes over time.
“We’ve taken a bold lead in developing enhanced capabilities with streamlined workflows to optimize portfolio management and trading of UMA accounts and help advisors to better meet investors’ goals,” said Cheryl Nash, Chief Executive Officer, Tegra118. “We saw early on that the ability to migrate managed account products onto a single, streamlined platform not only benefits our clients and advisors, but is driving growth in the industry. We’re excited to collaborate with Raymond James in proactively guiding the industry forward and creating a new standard.”
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