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Raymond James Expands Relationship with Tegra118 to Build Additional UMA Functionality

January 11, 2021

Raymond James Expands Relationship with Tegra118 to Build Additional UMA Functionality

January 11, 2021

Companies collaborate to offer advisors greater flexibility and customization to meet clients’ investment objectives and risk profile

Warren, N.J., Jan. 11, 2021Tegra118, a top provider of wealth and asset management technology and Motive Partners company, today announced that Raymond James Asset Management Services, a division of Raymond James Financial, Inc., will utilize Tegra118’s technology to offer advisors greater customization and enhancements in managing clients’ unified managed accounts (UMAs) as part of their new Portfolio Select UMA offering.

“Tegra118 supports our existing UMA, SMA and MFA programs, and their unique perspective makes them the right partner in helping our advisors take greater control with additional UMA sleeves, capabilities, and the connectivity needed to help them better serve investors,” said Erik Fruland, President of Raymond James Asset Management Services. “Tegra118’s expertise and leadership in UMA account programs is well-known in the industry, and their technology provides the scale and performance we’re seeking to meet our clients’ needs. We are excited for the pilot launch of our Portfolio Select UMA. “

Raymond James Asset Management Services will utilize Tegra118’s Unified Wealth Platform and its integrated model management technology in portfolio construction within a UMA tool set for an expanded product offering. This gives advisors more choice and the ability to pick from an extensive library of model portfolios based on a client’s personal goals and risk profile, and the ability to add multi-layered sleeves into UMAs where they can be more efficiently managed. The result is a truly customized UMA experience for both advisors and their clients with the ability to change allocations with more discretion into how the portfolio is constructed.

Tegra118’s industry leading UMA capabilities enable advisors to intuitively incorporate diverse investing strategies and models into one unified account. UMA accounts offer clients the benefits of elevated investment diversification while simultaneously streamlining the overall client experience. UMA’s help advisors deliver greater value to their clients which can result in better investing outcomes over time.

“We’ve taken a bold lead in developing enhanced capabilities with streamlined workflows to optimize portfolio management and trading of UMA accounts and help advisors to better meet investors’ goals,” said Cheryl Nash, Chief Executive Officer, Tegra118.  “We saw early on that the ability to migrate managed account products onto a single, streamlined platform not only benefits our clients and advisors, but is driving growth in the industry. We’re excited to collaborate with Raymond James in proactively guiding the industry forward and creating a new standard.”

About Tegra118

Tegra118 is an industry leading provider of software solutions to the wealth and asset management industry with a vast network of broker-dealers, asset managers, and custodians and trading interfaces. Its technology platform provides portfolio management, trading, accounting, rebalancing and reporting for managed accounts. Tegra118 also provides modular, goals-based financial planning, performance reporting and fee billing software for financial advisors and asset managers using modern API-based open technology. Tegra118 is committed to delivering powerful solutions that set a new standard for how people interact with, manage, and grow their wealth.

Tegra118 is a Motive Partners company, a specialist private equity firm with offices in New York City and London, focused on technology-enabled business and financial services companies. Please visit www.tegra118.com.

About Raymond James Financial, Inc.

Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 8,200 financial advisors. Total client assets are $923 billion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com.