Savvy Wealth, the monetary expertise agency that owns registered funding advisor Savvy Advisors, has added new funding capabilities to its “all-in-one” wealth administration platform.
The agency launched Savvy Wealth Funding Administration, or SWIM, a proprietary funding administration service that enables advisors to create and handle customized portfolios. The providing consists of entry to an in-house analysis and funding workforce, menu of customizable fashions and a spread of asset courses, funds and techniques.
The software program was developed solely to deal with the wants of Savvy’s advisors.
“We initially began by leveraging third events [to offer research-backed models], however we simply reached a limitation,” mentioned CEO Ritik Malhotra. “These have been created for type of a broad base. So, we checked out methods we might systemize a degree of customization and nonetheless have that research-backed strategy, however that was compelling sufficient for the set of advisors we work with.”
Using in-house analysis and evaluation, the agency has created a set of portfolio fashions meant to be “modular and versatile,” Malhotra mentioned, providing each construction and a broad vary of funding choices. SWIM additionally permits for risk-managed sleeve customizations round issues like “issue tilts and tax-efficiency with assist for worth, development and dividend-focused methods, in addition to proprietary energetic methods,” along with buying and selling and rebalancing.
“You possibly can consider them as particular person merchandise,” Malhotra mentioned. “However they’re actually only one as a result of they’ll all be built-in in or dis-integrated relying on the use case.”
“On the execution aspect, one of many thrilling elements is our capability to layer in direct indexing in lieu of, say, the U.S. fairness piece for taxable shoppers,” mentioned Nate Wallace, founding principal wealth supervisor at Savvy.
“All the flexibility we’ve got to customise that portfolio past what a third-party resolution has, or a much less superior in-house resolution, has been actually thrilling to have the ability to deliver to shoppers,” he mentioned.
SWIM is the newest addition to a totally built-in and AI-enabled expertise stack that Savvy is constructing. Whereas connections with third-party software program suppliers are potential, Malhotra mentioned he’s ready to include any functionalities advisors are asking for.
The platform is constructed round a customized advisor dashboard and CRM known as Co-Pilot and features a direct indexing software launched final yr in addition to the brand new funding administration piece, a complete database of alternate options compiled by in-house researchers and monetary planning by way of an “energetic, real-time” integration with eMoney.
Integrated in July 2021, Savvy Wealth raised enterprise capital by way of two funding rounds earlier than formally launching its RIA the next summer time on a mission to construct out an “all-in-one” wealth administration platform.
Six months later, the agency had attracted a half dozen advisors and greater than $100 million in belongings. After pausing in early 2023 to roll out the direct indexing and platform instruments, Savvy ended the yr with 13 advisors and nearing $500 million in recruited belongings.
Malhotra, who was named as one in all WealthManagement.com’s Ten to Look ahead to 2024, mentioned he expects to triple headcount this yr to greater than 50 throughout advisory, product, operations and advertising.