BBVA Wealth Solutions, Inc. (BWS) today announced the launch of its newest digital investment services product, SmartPath Digital Portfolios, a new digital advice solution designed to help investors achieve their financial goals. SmartPath Digital Portfolios—powered by BNY Mellon’s Pershing—delivers an engaging user interface, along with a selection of managed account options, to provide an optimal advisory investment experience and help investment advisors achieve increased efficiencies and scale.
“We are excited that we can provide a new digital solution at a lower cost than traditional investment advisor platforms; our biggest differentiator with this product is that we provide actively managed models that leverage non-proprietary ETFs,” said Bruce Hagemann, head of Investment Services for BBVA Compass and BWS chief executive officer. “We also took the experience to the next level with the ability to provide a model for five different risk profiles with a more in-depth questionnaire to more effectively match clients to their risk and time horizon preferences. By going above and beyond the basic two-question mapping fund model to invest in, this solution sets us apart in the digital managed account space with full transparency.”
SmartPath Digital Portfolios boasts a simple, risk tolerance and time horizon based questionnaire to guide clients through investment choices based on their financial goals and investment preferences. It is available for an annual fee of .75% (i.e., $75 on the minimum $10,000 initial investment). The online product has no additional trading or rebalancing fees.
Rink Schenkelberg: BWS is strongly focused on leveraging the ongoing digital transformation in the financial industry and strives to continuously roll out new products for our clients.
“BWS is strongly focused on leveraging the ongoing digital transformation in the financial industry and strives to continuously roll out new products for our clients,” said Veronica Rink Schenkelberg, executive director at BBVA Securities Inc. “Together with our brokerage and insurance affiliates, we now have a suite of digital services that our clients use every day to help them reach their financial goals. SmartPath Digital Portfolios from BWS is the latest in that category. This platform allows BWS to align with its other managed money solutions to provide a consistent message across all client engagements, digital or face-to-face.”
SmartPath Digital Portfolios is based on Pershing’s Digital Portfolios, which integrates Pershing’s investor platform, NetXInvestor, with the firm’s investment advisory solutions. SmartPath leverages Lockwood WealthStart® Portfolios, which is designed to assist emerging and mass affluent investors grow their wealth. It incorporates five out of six WealthStart models with traditional and nontraditional asset classes, leveraging non-proprietary ETFs.
Nagappan: We are thrilled to have worked with BBVA Wealth Solutions on this exciting new product, which will help BBVA clients engage with a broader group of investors...
“We are hyper focused on delivering solutions designed to meet our clients’ specific needs,” said Ram Nagappan, chief information officer at BNY Mellon’s Pershing. “We are thrilled to have worked with BBVA Wealth Solutions on this exciting new product, which will help BBVA clients engage with a broader group of investors, creating an opportunity to form important relationships early in the investment cycle.”
Pershing’s Digital Portfolios is based on plug-and-play software that provides Pershing clients with full customization options and can be reconfigured based on specific client needs.
Investment advisory services are offered through BBVA Wealth Solutions, Inc., a registered investment adviser and an affiliate of BBVA Compass. Securities and investment products are offered through BBVA Compass Investment Solutions, a division of BBVA Securities Inc., member FINRA and SIPC and an affiliate of BBVA Compass.
Securities and Investment Products are NOT FDIC insured, are NOT bank guaranteed, may LOSE value, are NOT deposits and are NOT insured by any federal government agency.
BBVA Compass is a trade name of Compass Bank.