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Fortigent passes USD50bn in platform assets


Fortigent, a provider of outsourced wealth management solutions for financial advisors and institutions targeting high net worth clients, has surpassed USD50 billion in assets.

Approximately 90 firms now use Fortigent to support their investment research, performance reporting, Unified Managed Account (UMA), and alternative investment needs.

Andrew Putterman, CEO & President of Fortigent, says, "Perhaps counter-intuitively, the market volatility this year has helped us, for two different reasons. First, our industry typically charges fees based on a percent of assets under management (AUM). In a volatile market, controlling costs without sacrificing the client experience may be important to competitive success. That can benefit an outsourcing firm like ours, especially for services like performance reporting."

"In addition, we are seeing accelerating acceptance of and demand for Access Overlay, our customisable UMA program. In a low return, highly volatile market, advisors may benefit if they can offer portfolios that are easy to implement, easy to rebalance, and which have the potential for ‘tax alpha’. Despite the market disruptions of the past several months, we have seen net asset inflows and new account openings in Access Overlay week after week. We continue to believe that UMAs will be the preferred delivery vehicle for a significant portion of high net worth portfolios within just a few years."

Scott Welch (pictured), Senior Managing Director of Investment Research & Strategy, says: "The second way that market volatility has helped us is that supporting advisors in building and managing globally diversified portfolios with both traditional and alternative investments is one of our core service offerings. We continue to add managers and strategies to Access Alts(TM), our alternative investment access program, we have added actively managed — that is, non-mutual fund — alternative investments into our UMA, which we believe is pretty innovative, and one of our most important strategic research initiatives is to help our clients navigate the still-nascent but rapidly growing alternative investment mutual fund space."

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