Onramp Launches SMA Solution for Advisors, Asset Managers: Tech Roundup

What You Need to Know

Impactive Capital nominated four candidates, including ex-UBS wealth exec Tom Naratil, for election to the Envestnet board.
iCapital appointed regulatory expert Agnes Bundy Scanlan, president of The Cambridge Group, to its board, effective Jan. 1.

Onramp Invest launched a “fully comprehensive” separately managed account solution, the crypto-asset integration platform for financial advisors disclosed in a blog post.

The firm had been “quietly building” the SMA solution, it said, adding the offering was “built to benefit both advisors and asset managers.”

For advisors, Onramp’s “network of trusted asset managers created a suite of models and indices that can’t be found anywhere else,” the company said.

“Now, even if advisors aren’t sure how to approach digital assets, they can leverage the knowledge and strategies of the best in the business for their clients,” it added. “If advisors would like to partner with a leading asset manager to help manage their clients’ funds directly, we can help with that, too.”

Meanwhile, using the new solution, asset managers “can now simply and securely manage accounts across clients, advisors, and firms,” according to Onramp. “They can also create, manage, assign, and trade model strategies while also benefiting from integrated reporting, analytics, and dashboards to best understand and monitor their clients’ performance.”

The firm also introduced a new logo that it said “serves as a symbol of our platform — balanced, [streamlined], and comprehensive, with one central point providing access to every external tool you need.”

Onramp added: “When it comes to our color palette, we aimed for dependable, approachable, enthusiastic, and sharp — all qualities that we feel embody our team mentality and spirit.”

Activist Nominates 4 to Envestnet Board

Impactive Capital announced Wednesday that it nominated four director candidates for election to the Envestnet board of directors in connection with Envestnet’s 2023 annual shareholders meeting.

Impactive is an active, impact-driven investment firm that, together with its affiliates, owns about 7.5% of the outstanding common shares of Envestnet, making it one of the largest Envestnet shareholders, Impactive said.

“Impactive firmly believes in Envestnet’s business and the Company’s considerable future potential,” Impactive said in a statement.

“However, over the past 5 years — during which time 5 of 7 of the Company’s current directors have served on the Board, and a sixth was serving as President —Envestnet has underperformed the S&P 500 by 61% and delivered a total return of a mere 6% as compared to its proxy peer group, which averaged a total return of more than 113%,” Impactive added.