Wealthspire Advisors launches Wealthspire Pathways digital wealth management solution
Wealthspire Advisors, an independent investment adviser, has launched Wealthspire Pathways, a digital wealth management solution that combines the firm’s traditional focus on financial planning and client service with an automated technology platform.
Wealthspire Advisors’ goal in launching Pathways is to bring professional financial planning and investment management services to a broader group of clients, including those who are accustomed to using online interfaces.
One of the biggest differentiators between Pathways and standard “robo-advisor” platforms is that clients have access to a dedicated Certified Financial Planner (CFP). Advisors specialising in the platform will work with clients to develop a personalised financial plan based on the client’s unique situation and goals. The plan will be updated annually or when major life events occur.
“Our decision to centre Wealthspire Pathways relationships around dedicated advisors rather than a call centre structure was intentional,” says Wealthspire Advisors CEO, Mike LaMena. “This structure helps us maintain our high standard of care across all clients and offerings. Over time, we expect many Pathways clients to transition to our more traditional service model. We want their experience to be consistent and seamless.”
Wealthspire Pathways leverages Schwab’s automated investment management platform, but with the firm’s investment team ultimately making investment selections for clients based on each one’s risk profile. Clients complete an online questionnaire so they can be matched with one of Wealthspire Advisors’ preferred portfolios. The portfolio choice is then confirmed as appropriate through the firm’s personalised planning process.
“We believe there is value in a centralised investment function with a point of view,” says Wealthspire Advisors Deputy Chief Investment Officer, Dmitriy Katsnelson. “While we will have preferred portfolios for our Pathways clients, the investment team will actively monitor and adjust portfolios to each client’s needs.”