Diversify enhances in-house platform amid growing advisor adoption

Firm says it can do better than the 'limitations' of other investment platforms.

Diversify Advisor Network is bolstering the capabilities of its in-house, fee-based asset management platform, as advisor adoption rises.

The firm has built an asset and investment management team led by industry veteran David Wrigley, the firm’s chief investment officer. Head count has risen 125% over the last year, while advisor adoption is up 53% over a six-month period and the platform accounts for an increasing share of the firm’s $7 billion AUM.

“We think we’ve found the sweet spot that ensures advisors have access to a sufficient number of multi-asset class strategies that they need to effectively service their clients, while not overwhelming them with a supermarket approach like many other platforms do,” Wrigley said.

The platform includes both alternative and traditional investments, passive models, various alternative investment strategies, internal and external separately managed accounts, and unified managed accounts.

“While we’ve invested in the infrastructure and technology to build a world-class investment platform, we’ve also invested heavily in assembling an incredible asset management team,” Wrigley said, adding that his team offers personalized advisor support as an extension of the advisor’s practice.

SUPERIOR PLATFORM

Ryan Smith, co-founder and CEO of Diversify Advisor Network, says that expanded platform provides its advisors with a full line-up of best-in-class strategies.

“After experiencing firsthand the limitations of other investment platforms, we concluded that we could provide a superior, more robust and more cost-effective investment platform to advisors and their clients by bringing the asset management function in-house,” he said.

Stuart Matheson, Diversify’s chief strategy officer, added that the firm’s goal is to enhance advisors’ practices with in-house investment expertise that helps them serve their clients better and scale their businesses.

“Leveraging this vertical integration of investment management capabilities, advisors can leave the asset management to us and get back to what they do best – building strong relationships and guiding clients toward their life goals,” Matheson concluded.

Last year, the firm launched Diversify Wealth Management offering an employee-affiliation RIA.