TAMP assets came easily to Genworth, Envestnet and Loring Ward in 2010 and the fourth quarter sizzled
Giant SEI had a big turnaround but ended on a down quarter
Jeff Spears
We need a high end TAMP to meet the needs of larger advisors with larger and more sophisticated clients. Not sure that this is possible due to the unique investment needs of these clients, but I can dream can’t I?
Brooke Southall
That’s an interesting challenge to lay down to the industry considering that, well, who wouldn’t want to be the TAMP of big, sophisticated clients?!
My guess is that it’s more than crossed their minds. SEI is rolling out a major new tech platform this summer aimed at unifying households. Genworth Financial bought Altegris because clients were complaining about having to go off platform for alternative investments. Dynasty Financial, more unbundled, has its eyes on the biggest of clients.
Where do you see the gap in what the market provides and what these companies have?
Brooke
Jeff Spears
The gap is that the money managers on the TAMP platforms are the index hugging asset gathering managers that are on the wirehouse wrap programs, not the ones that high net worth clients are interested in using.
Dynasty is using Callan for their money manager research and their manager roster was derived for their non taxable institutional clients.
Most Altergris’ assets are in CTAs.
None meet the needs of the high net worth client. That has created an opportunity for firms like Presidio and Hall Management to create this service for their high net worth clients (Presidio avg $27mil, Hall $100 mil). Hall does offer their money manager research through their Fund of Funds, but Presidio is all in house.
Still looking…:)
J
Just something small that I’m picking at in regards to the gentleman whose photo is at the top of the page. You have printed his surname and then his first name. It’s supposed to be Gurinder Alhuwalia, rather than Alhuwalia Gurinder.
Brooke Southall
Thank you for that catch…corrected.
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