New Custody, Clearing Firm Launches With Ex-Hightower Exec at Helm

“Over the past 18 months, we have embarked on an ambitious journey to reimagine how we serve the RIA and independent broker community,” Jeffrey A. Desich, chairman of Innovayte and executive vice chairman of Equity Trust Co., said in a news release.

“With the launch of Innovayte, we have a better way to support entrepreneurs, focusing on business outcomes, not asset size,” he said. “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.”

In 1974, Richard Desich launched a brokerage firm that eventually became Equity Trust Co., an independent trust company. Almost 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,” the company explained.

Pictured: Cat Davies, CEO of Innovayte.