By Stephanie Bartup | Private Asset Management Magazine
Wealth management technology platform Vanare has partnered with fee-only RIA North Capital in a move which further evolves the robo-advisor model by offering online goals-based planning to affluent investors and their advisory teams.
Alexey Sokolin, COO of Vanare, whichintegrates online and traditional wealth management services, told PAM that the firm has seen goals-based investing becoming more important to investors.
“When looking back at their life, people aren’t worried about beating the S&P by 50 basis points. Instead, the questions are about putting their kids through college, contributing to charity, retiring comfortably, traveling and enjoying life. This is what Vanare and North Capital will deliver,” he said.
Most robo-advisors focus only simple investment management, selling portfolios. Our online platform will help people identify and understand their financial life with a clear plan aligned to their personal situation. We will provide holistic advice around both what allocation to invest in, and how to save to achieve the life outcomes that clients desire."
Utilizing Vanare’s platform, North Capital, which provides advisory services and discretionary investment management to high-net-worth individuals, families and institutions, will introduce a new brand, Evisor.com, to offer clients wealth management services both digitally and in-person.
The partnership will allow investors to set their financial goals online, which will then be combined with a behavioral risk questionnaire to create and implement an asset allocation based on North Capital’s proprietary investment approach, implementing a further ‘human’ element to the complexities of online investing.
Jim Dowd, CEO of North Capital, told PAM: "We believe that the most important part of financial planning is helping clients identify and understand their needs and goals, then developing a savings and investment plan that is designed to fulfill them. Too many financial planning tools naively focus on investments alone. Financial planning is far more complex than determining whether an investor's asset allocation should be 40-60 or 60-40.”