Cetera Financial Group has announced the launch of Cetera Private Wealth Portfolios, described by the firm as a suite of customizable investment portfolios designed by Cetera Investment Management and offered to Cetera-affiliated advisors exclusively through the Envestnet private wealth platform.
The approach provides advisors serving high-net-worth clients with a platform that can function as an outsourced chief investment officer by pairing Cetera Investment Management’s portfolio expertise with the support of the Envestnet private wealth platform.
Kerry Pierce, head of advisory solutions at Cetera, said in a statement that the development represents a “powerful addition” to the firm’s suite of services for affiliated advisors.
“Through our Cetera Private Wealth Portfolios, we are enabling our advisors to deliver sophisticated, institutional-quality investment strategies to affluent and high-net-worth households — all without advisors having to build or scale their own investment infrastructure,” Pierce said.
Rollout of the program is being led by Gene Goldman, Cetera's chief investment officer, who noted that the platform will be able to help advisors take over an existing portfolio of low-cost-basis securities and build a customized portfolio solution around it.
Likewise, Goldman said, the platform will help free up time for advisors to focus on deepening client relationships and growing their business. It will also provide high-net-worth clients with access to a dedicated institutional-grade team whose expertise, technology and insights help enhance portfolio construction and oversight in pursuit of higher performance.
Andrew Stavaridis, chief relationship officer at Envestnet, said the platform will enable the firm’s client portfolio managers to work closely with Cetera-affiliated advisors to gain a comprehensive understanding of each client's objectives.
“From there, they assess the model portfolios developed by Cetera Investment Management to determine whether customization is needed,” Stavaridis said. “The program's flexibility is extensive, allowing for tailored overlays that can address tax considerations, values-based investing preferences, and other specific client priorities.”
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