Integrating Advanced Risk and Tax Management in UMAs with Lee Chertavian

2021-08-24

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In this episode, Jack talks with Lee Chertavian, Operating Partner at Long Ridge Equity Partners.Lee is one of the pioneers in the advisory space. He was the CEO of Placemark, a sophisticated asset management company, which was purchased by Envestnet seven years ago. Lee led its growth to nearly $16 billion in assets under management with more than 45,000 clients. Furthermore, Lee finished his MBA with distinction at Harvard Business School.Lee and Jack discuss the improved tax management in UMAs, six key trends in fintech, and the role of tech in enabling advisors to make...

In this episode, Jack talks with Lee Chertavian, Operating Partner at Long Ridge Equity Partners.

Lee is one of the pioneers in the advisory space. He was the CEO of Placemark, a sophisticated asset management company, which was purchased by Envestnet seven years ago. Lee led its growth to nearly $16 billion in assets under management with more than 45,000 clients. Furthermore, Lee finished his MBA with distinction at Harvard Business School.

Lee and Jack discuss the improved tax management in UMAs, six key trends in fintech, and the role of tech in enabling advisors to make better decisions.

“Consider a client's entire lifestream. We need to figure out planning. We need to integrate with tax, not just the tax on the portfolio, but their whole tax situation. And fortunately, so much data is becoming more digitized that we have the ability to bring that in—to help the advisor make those better decisions for clients.” ~ Lee Chertavian

Main takeaways

When offering unified managed accounts, your other goal is to enable higher levels of risk and tax management.
Six key trends are driving the fintech industry:
Fee compression
Paradigm shift in advice
Rise of roboadvisors
Product proliferation
Ubiquity of information
Improved efficiency of the market
Consider the client’s “entire life stream” when advising. Leverage tech to integrate risk management and to protect them from fraud (e.g. identity theft).

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