What You Need to Know
- The Onyx Advisor Network for minority advisors will officially launch May 9.
- For $549 a month, advisors get access to a bundle of tech offerings including Altruist and Envestnet
- Members also get discounted rates from service providers like Carson Coaching and Snappy Kraken.
The Onyx Advisor Network for minority advisors will officially launch May 9 after a “soft launch” that it said Thursday started in December and continued through the first quarter of 2022 with a small group of diverse advisors.
The beta group of advisors included Meg Bartelt, Marguerita Cheng, Samuel Deane, Leighann Miko, Chloé Moore, Anna N’Jie-Konte, Michael Policar, Chelsea Ransom-Cooper, Luis Rosa, Shawn Tydlaska and Tremaine Wills.
They helped to “stress test” the subscription-based platform and provide feedback on its offerings, Onyx said.
The support platform for underrepresented financial advisors, first announced in December, costs $549 a month. Advisors who join can opt to be billed monthly or annually. It is open to advisors of color, women, members of the LGBTQ+ community, and anyone else who “feels marginalized by the financial services industry,” Onyx said.
As part of the subscription, advisors will receive access to a bundled technology stack, including Altruist, MessageWatcher, Envestnet|MoneyGuide, RightCapital, Synergy RIA Compliance Solutions and Wealthbox, Onyx said Thursday.