New York-based Wealthspire Advisors has launched a new digital wealth management solution to strengthen its footprint among tech-savvy clients.
The new offering, dubbed Wealthspire Pathways, integrates the company’s financial planning and client services with an automated technology platform.
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Unlike conventional robo-adviser platforms, Pathways offers clients access to a dedicated certified financial planner (CFP).
The platform will enable advisers to work in conjunction with their clients and devise a customised financial plan depending on the specific requirements of clients.
The plan can be updated every year or after major life events in the client’s life.
Wealthspire Advisors CEO Mike LaMena said: “Our decision to centre Wealthspire Pathways relationships around dedicated advisers rather than a call centre structure was intentional.
“This structure helps us maintain our high standard of care across all clients and offerings. Over time, we expect many Pathways clients to transition to our more traditional service model. We want their experience to be consistent and seamless.”
Although Pathways utilises Schwab’s automated investment management platform, Wealthspire Advisors team finalise the investment selections based on individual risk profiles.
All the clients have to submit an online questionnaire, based on which they are assigned an appropriate portfolio after a personalised planning scheme.
Wealthspire Advisors deputy CIO Dmitriy Katsnelson said: “While we will have preferred portfolios for our Pathways clients, the investment team will actively monitor and adjust portfolios to each client’s needs.”
