Advisor Software, a provider of advice solutions for the advisor market, has acquired Advisor Partners, an asset management firm specializing in creating investment portfolios and managing client accounts on behalf of professional investment advisors.
The company said that the acquisition expands its offering to provide a complete solutions lineup for registered investment advisors, and organizations that serve them.
Advisor Partners provides investment management services to independent advisors and financial institutions through its separately managed accounts program and managed portfolio program. It also constructs customized model portfolios for financial institutions.
Advisor Partners’ separately managed accounts program is a customized, tax-managed and index-based core equity allocation. It focuses on active tax management through tax loss harvesting in order to offset capital gains and is customized to client’s requirements, including socially responsible portfolios, restrictions on stocks or industries, or investment tilts.
According to Advisor Partners, its managed portfolio program is an asset management solution for financial institutions and independent financial advisors. It allows institutions to outsource their existing wealth management offering or establish a new program and is designed for advisors who have raised minimum account size over the years and wish to maintain a level of service to smaller legacy accounts, referred accounts or associated accounts.
Andrew Rudd, chairman and CEO of Advisor Software, said: “By expanding our capabilities with Advisor Partners’ unique investment management programs, we will be able to offer clients our institutional-caliber wealth planning software as well as cutting-edge investment strategy alternatives.”
