by –News Direct–
Equity Advisor Solutions and ETC Brokerage today have come together under new leadership to form Innovayte, a custody and clearing company supporting entrepreneurial independent registered investment advisors (RIAs) and broker-dealers by providing forward-looking solutions to help them serve their clients and grow their businesses.
The new company will be led by Catherine Cat Davies, who has more than 25 years of financial services leadership experience. Davies, who most recently served as Chief Solutions Officer for Hightower, will be responsible for building and implementing a strategic plan focused on creating a scalable, technology-enabled business service platform with a broad portfolio of complementary products and services.
Over the past 18 months, we have embarked on an ambitious journey to reimagine how we serve the RIA and independent broker community, said Jeffrey A. Desich, Chairman of Innovayte and Executive Vice Chairman of Equity Trust Company. With the launch of Innovayte, we have a better way to support entrepreneurs, focusing on business outcomes, not asset size. We will be inviting a select number of advisors whose practices have long been overlooked by the big firms and deserve a greater deal of attention from their partners. We know that Cat Davies is the right leader to drive this long-term endeavor.
Amid rapid industry consolidation, smaller RIAs and broker-dealers have fewer options in custody, clearing and partnership. They can choose a platform that keeps them captive to systems and products or sell to a larger entity and cede control. Innovayte offers a decidedly different approach. For advisors and broker-dealers who want an edge from their custodian and partner, not a platform or an employer, Innovayte provides the systems and support needed to create better business outcomes.
I am grateful to Jeff and the entire Desich family for placing their trust in me to get this new company off the ground and put it on strong footing, Davies said. Having spent more than a quarter century serving and supporting independent advisors, I recognize that RIAs and broker-dealers need more choice and better options. Innovayte is poised to transform the industry, and Im honored to lead the effort that puts entrepreneurs front and center.
Innovayte builds on a heritage that spans half a century. In 1974, Richard Desich launched a brokerage firm that eventually became Equity Trust Company, an independent trust company. Nearly 40 years later, the Desich family formed Equity Advisor Solutions to further serve the financial services industry.
With the forthcoming addition of self-clearing capabilities and other offerings, the team decided to form a new company to bring all the pieces together, meet the changing needs of the fast-growing industry and match its advisors entrepreneurial spirit. Innovayte has the infrastructure to engage with next-generation clients while also benefiting from relationships and expertise accumulated over nearly a half century.
About Innovayte
Innovayte fuels advisors' entrepreneurial spirit, supporting independent RIAs and broker-dealers in two ways: helping them become more profitable by providing shared services and developing plans and strategies to help them reach their business goals. From cutting-edge technology to pairing advisors with dedicated relationship managers, Innovayte offers advanced systems and technology with a personalized touch. As a new brand with a heritage that stretches across half century, Innovayte has the infrastructure to engage with next-generation clients while also benefitting from the relationships and expertise accumulated over many years. For more information, visit www.innovayte.com.
Contact Details
For Media Inquiries
View source version on newsdirect.com: https://newsdirect.com/news/founders-of-equity-trust-company-launch-new-company-innovayte-to-provide-full-service-custody-clearing-and-partnership-to-registered-investment-advisors-and-broker-dealers-227305632
Innovayte
COMTEX_442124179/2655/2023-10-19T10:14:27
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.