Ex-JP Morgan execs raise $4m to launch wealth platform
Summary
A group of former senior JP Morgan executives have launched a new wealth management platform with the help of a $4 million investment round. The Vestrata proprietary technology platform aims to deliver a suite of discretionary, advisory, alternatives and ESG investment solutions that will help wealth managers “drive improved client engagement, control risk and reduce costs”. Vestrata chief executive Mark Le Lievre said: “We are entering an era where wealth managers will no longer be able to rely on market appreciation to drive revenue growth. We know from first-hand experience the significant and accelerating financial and regulatory challenges faced by the wealth management industry. “If firms are to engage with clients most effectively they need to deliver differentiated investment solutions and use a sophisticated platform to enable advisors to engage their entire book of business.” Vestrata head of solutions Lea Blinoff added: “We integrate a variety of investment solutions, products and asset classes with powerful portfolio analytics, reporting and a robust risk management framework, to ensure advisors can deliver advice specifically tailored to their clients’ needs in a scalable and compliant way.”