Brooke Southall

Envestnet to zero in on RIAs and family offices

Lori Hardwick: RIAs require a much longer sales cycle.

TAMP

Envestnet

Sanctuary

Lori Hardwick

Sean Mullen

John Fitzpatrick

Outsourced investments are one of the fastest-growing categories in the financial advisory world. Perched between
the asset custodian and the financial advisor, these (mostly) turnkey asset management programs can handle all or a 
portion of their investing, technology and fiduciary duties.

Advocates of using these TAMPs point to how it's better for the advisor because it frees up more time to spend with clients and prospects. It's also better for clients because the duties are being handled by specialized professionals who benefit from economies of scale.

Skeptics say that it adds a layer of cost and takes away an element of control from the advisors in executing according to a client's financial plan.

TAMPs

The RIA business is many good things but integrated from a gender standpoint is not one of them. This is not so great. Women are the majority of humanity and they have an asset-building strategy that can't be beat. Women outlive their beer-and-steak mates and end up with big estates. But today's women have too another strategy -- pursuing wealth in the workplace. Yet when they go to find fellow women to talk all this through with, they don't readily find them. 

Companies big and small have for decades fallen over themselves to say that they have women's initiatives but I can't think of one that has amounted to much. But there are stories-- dozens or hundreds -- of them about women exerting their influence on this business and we are starting to collect them. It's a starting place -- documenting the ground being covered by women in the form of engaging tales graphically depicted by the physiognomy of the fairer sex.

Women of Wealth Management

Two new hires from Fidelity's National Financial and Fortgent LLC reflect the outsourcer's strategic direction

Envestnet to zero in on RIAs and family offices

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Envestnet to zero in on RIAs and family offices

Related Moves

January 22, 2025 at 2:43 AM

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February 24, 2024 at 3:33 AM

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