Adviser Product Partnerships – 10/25/23

Pontera and Kovack announce partnership; Russell Investments partners with Venerable; NewEdge Wealth adds iCapital to alternative investment platform; and more.   


Pontera, Kovack Financial Network Announce Partnership

Pontera Solutions Inc. and Kovack Financial Network, a privately-owned investment adviser and broker/dealer, announced a partnership. Kovack financial advisers are now equipped to offer secure and compliant 401(k) management as part of their core practice. 

“Kovack advisers have communicated a growing need to better support clients with retirement plan accounts,” Chris Yarosh, Kovack’s vice president of practice management and due diligence, said in a statement. “Pontera has effectively addressed operational and compliance challenges related to held-away assets including 401(k)s, 403(b)s, and more.” 

Established in April 1997, Kovack is headquartered in Fort Lauderdale, Florida, and partners with advisers in all 50 states, overseeing more than $13 billion in assets under management.  

“We are proud to partner with Kovack to launch this service to their client base,” Peter Nolan, vice president of enterprise sales and partnerships at Pontera, said in a statement. “Kovack’s robust relationship between leadership and its affiliated advisers creates a strong foundation for embracing technology to deliver superior client outcomes.” 

Russell Investments Announces Partnership With Venerable  

Venerable Holdings Inc., a privately held company which owns and manages legacy variable annuity business acquired from other entities, has announced a partnership with Russell Investments Group LLC, an investment solutions firm with $291.9 billion in assets under management, as of September 30.  

“We are thrilled to help Venerable deliver innovative investment solutions through its variable annuities platform,” Zach Buchwald, Russell Investments’ chairman and CEO, said in a statement. “Variable annuities help millions retire with financial security, and our partnership with Venerable aims to improve both the investment experience and the operating model, allowing Venerable to focus on its policyholders.” 

Venerable Investment Advisers LLC, Venerable’s new wholly-owned subsidiary, will engage Russell Investments to provide sub-advisory and administration services to funds in its newly formed Venerable Variable Insurance Trust.  

Russell Investments will provide its multi-manager investment, risk and implementation platform to Venerable as part of the partnership. 

NewEdge Wealth Adds iCapital to Alternative Investment Platform  

NewEdge Wealth LLC, a registered investment adviser, and Institutional Capital Network Inc., also known as iCapital, a fintech platform delivering access to alternative investments for the wealth management industry, announced a strategic partnership that provides NewEdge Wealth financial advisers and their high-net-worth clients access to a range of alternative investing opportunities. 

The partnership includes a customized technology offering that provides advisers at NewEdge Wealth with a curated menu of alternative investment strategies—such as private equity, private credit, real estate and hedge funds—and also enables the firm’s advisers to purchase structured investment opportunities. 

iCapital’s technology solution automates the subscription, administration, operational and reporting processes for the life of the investment funds. As part of the partnership, advisers also gain access to a full suite of research, due diligence, educational materials and investment product training. 

“iCapital is a clear leader in the industry, and with the ever-increasing demand for alternative investments from high-net-worth and ultra-high-net-worth investors accelerating, we are thrilled our advisors benefit from iCapital’s cutting-edge technology,” Rob Sechan, NewEdge Wealth’s CEO and co-founder, said in a statement.  

Grayscale Investments Partners With FTSE Russell  

Grayscale Investments, a cryptocurrency asset manager, partnered with FTSE Russell, an index provider, to create the Crypto Sector Index Series, a grouping of five indices in the digital asset sector. 

The five indices will be “Currencies, Smart Contract Platforms, Financials, Consumer & Culture, and Utilities & Services,” and they “will be reassessed quarterly to reflect the dynamic nature of the crypto asset class,” according to a release from Grayscale. 

The indices are intended to “help investors categorize and analyze the crypto ecosystem” and focus on different areas of the crypto market: cryptocurrencies, platforms, financial services, culture and consumption, and services and applications. 

Forms Logic Announces Integration with RIA Compliance Technology  

Forms Logic, a cloud-based system for companies looking to integrate single data entry across multiple forms, announced an integration with RIA Compliance Technology, a software platform helping RIAs more effectively manage and automate regulatory compliance needs. 

“When we assessed the landscape of existing compliance platforms in search of a strategic partner, we were looking for a solution that was both comprehensive and user-friendly,” Rick Burgess, founder and CEO of Forms Logic, said in a statement. “RIA Compliance Technology’s simple-yet-effective approach enables firms to meet regulation, collection, review, and archiving standards from a single platform, which mirrors our vision of easing traditional advisor burdens with innovation that breeds efficiency.” 

The integration allows advisers to streamline their compliance processes, including compliance submissions, data collection and workflows. 

“Our commitment to delivering cutting-edge compliance solutions aligns seamlessly with Forms Logic’s dedication to simplifying complex processes,” Blake Bjordahl, CEO of RIA Compliance Technology, said in a statement. “Together, we aim to revolutionize how advisors approach regulatory compliance.”