TAMP assets came easily to Genworth, Envestnet and Loring Ward in 2010 and the fourth quarter sizzled
Giant SEI had a big turnaround but ended on a down quarter
Jeff Spears
We need a high end TAMP to meet the needs of larger advisors with larger and more sophisticated clients. Not sure that this is possible due to the unique investment needs of these clients, but I can dream can’t I?
Brooke Southall
That’s an interesting challenge to lay down to the industry considering that, well, who wouldn’t want to be the TAMP of big, sophisticated clients?!
My guess is that it’s more than crossed their minds. SEI is rolling out a major new tech platform this summer aimed at unifying households. Genworth Financial bought Altegris because clients were complaining about having to go off platform for alternative investments. Dynasty Financial, more unbundled, has its eyes on the biggest of clients.
Where do you see the gap in what the market provides and what these companies have?
Brooke
Jeff Spears
The gap is that the money managers on the TAMP platforms are the index hugging asset gathering managers that are on the wirehouse wrap programs, not the ones that high net worth clients are interested in using.
Dynasty is using Callan for their money manager research and their manager roster was derived for their non taxable institutional clients.
Most Altergris’ assets are in CTAs.
None meet the needs of the high net worth client. That has created an opportunity for firms like Presidio and Hall Management to create this service for their high net worth clients (Presidio avg $27mil, Hall $100 mil). Hall does offer their money manager research through their Fund of Funds, but Presidio is all in house.
Still looking…:)
J
Just something small that I’m picking at in regards to the gentleman whose photo is at the top of the page. You have printed his surname and then his first name. It’s supposed to be Gurinder Alhuwalia, rather than Alhuwalia Gurinder.
Brooke Southall
Thank you for that catch…corrected.
Related Moves
DFA undergoes a sea change -- literally -- with a fancy yacht soirée, cigars and champagne as it attempts to sail away from its mutual fund image into the world of ETFs
Having just about staunched net outflows with its embrace of ETFs, DFA is embarking on a cultural shift as it tries to figure out how to sell more, even though it's less unique than it used to be.
March 13, 2024 at 1:46 AM
Envestnet shares popped -- up 8% today -- after Wall Street filtered out bad news and staked its bet on confidence in a new team
The Berwyn, Pa., firm sugar-coated nothing but ended up with a sweet stock price result as analysts see good outweighing bad.
February 24, 2024 at 3:33 AM
Bill Crager is dropping CEO role after multiple shoes dropped; the company insists it was his 'decision' but vision, Yodlee future uncertain
The co-founder of the $5.3-trillion AUA outsourcer of software and investments was pressed to take the job under the most adverse circumstances, then second-guessed by stakeholders as he managed the cards he was dealt.
January 9, 2024 at 4:09 AM
Bill Crager makes critical hire of 'step back from the numbers,' Joshua Warren, replacing 'brother' Pete D'Arrigo at CFO; Warren had a big role at BlackRock -- Envestnet's biggest stakeholder
The Envestnet CEO gets 'very, very impressive' 43 year-old BlackRock exec; the New York asset manager happens to be Envestnet's largest stakeholder.
September 27, 2023 at 2:48 AM
See more related moves
Envestnet Inc
TAMP
Top Executive: Jud Bergman
SEI Advisor Network
TAMP
Top Executive: Wayne Withrow
Buckingham Strategic Partners
TAMP, Asset Manager for RIAs
Top Executive: Alex Potts
