United Capital Financial Advisers announce a number of company initiatives on Tuesday, including the substantial growth and success of FinLife Partners, three key executive hires, and the introduction of Australia-based AMP Limited as a new strategic partner.
FinLife Partners, which is a financial life management operating system that allows independent advisors access to United Capital’s proprietary Financial Life Management platform, launched in April of last year.
Since its launch, FinLife Partners has “easily surpassed” its projected contract targets, according to United Capital. It has delivered $6.9 billion in assets under contract, and the firm expects several billion more by the end of the year.
Discussions between United Capital and AMP Limited, a financial services company based in Australia and New Zealand, began thanks to AMP’s interest in licensing FinLife Partners. The talks then evolved into a discussion around a more strategic intellectual property sharing partnership.
As part of the agreement, AMP Limited has invested in United Capital and will hold a small equity stake.
“United Capital’s mission to help clients live fulfilling lives aligns with AMP’s own vision,” said Joe Duran, founder and CEO of United Capital. “Focusing on and anticipating future consumer demands are the only way to stay relevant in this industry, and AMP is helping to support our endeavor to ramp up our technology and marketing efforts. With their help, FinLife Partners will continue to mature and better suit the needs of advisors and the investors they serve, wherever they may be.”
The growth of FinLife Partners, in addition to the expansion of the firm’s core financial life management business, which has grown $2.4 billion this year to $19.8 billion in total AUM, has required United Capital to invest further in its people.
The firm recently added adding three key executives to help drive the success and adoption of the platform and the firm’s marketing efforts.
Joining as chief business officer of FinLife Partners is Phillip Rogerson. In his new role, Rogerson will be responsible for the continued development and execution of the FinLife business plan.
Rogerson comes from Russell Investments, where he served in various positions since 1988, most recently as managing director of consulting and product.
Edward Kummer will be United Capital’s new chief marketing officer. Previously, Kummer was chief marketing and digital officer at the eyewear company Luxottica. He also was a longtime executive at Disney and Victoria’s Secret.
“His ability to offer a fresh, non-financial services industry marketing and brand perspective through the lens of technology, design and digital strategy will enable United Capital to continue to differentiate itself,” according to United Capital.
Min Zhang has joined as vice president of digital product management, where she will be responsible for enhancing United Capital’s software products and innovating new solutions that will add value to clients and advisors.
Prior to joining United Capital, Zhang created the fintech company Totum Wealth and prior to that served as director of investment risk at Pacific Life Fund Advisors and vice president of product management at Pimco.
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