HD Vest: $700M of Assets on New Portfolio Platform

The independent broker-dealer says about 500 of its 5,000 affiliated advisors are using the service

HD Vest Financial Services says its portfolio-management service, VestAdvisor Select, has gathered over $700 million in client assets since its launch in October 2012.

VestAdvisor Select includes 180 investment models focused on specific client goals, which advisors can work with in designing portoflios.

Each model’s strategy is preset, but advisors “have full discretion in modifying the initial models on a tactical basis to incorporate investments in which they or their clients have high conviction,” the company says.

“The remarkable response we have seen to the VestAdvisor Select service in only one year–with $700 million in client assets now managed under the program–shows very clearly that advisors want the increased flexibility that comes from engaging with our advisory platform to manage their clients’ assets, while investors recognize the value of putting all of our investment management resources to work alongside their advisor to drive toward their goals,” said President and CEO Roger Ochs, in a press release.

HD Vest supports nearly 5,000 independent financial advisors and is working with Rogerscasey to further support the future growth of the platform, now being used by about 500 reps.

“For our firm, VestAdvisor Select is as much a practice management resource as a portfolio management service, and it has become a crucial part of our business in just one year,” said Gene Bell, president and CEO of Gene Bell & Associates in Bellingham, Wash., and an HD Vest-affiliated financial advisor, in a statement.

“The service allows me to combine the strategies and insights of HD Vest’s portfolio management team with my own investment philosophy and product preferences, while scaling the level of customization in the portfolio to suit my clients’ goals,” Bell said. “The ‘dual discretion’ structure has also helped me focus on growing my business by supporting the full spectrum of my clients’ day-to-day account management needs, including cash withdrawals, rebalancing, monitoring and more.”

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