Private Advisor Group Enhances WealthSuite with First Trust Advisors Investment Models

Private Advisor Group's WealthSuite Platform Expansion

Private Advisor Group (PAG), one of the largest independent wealth management firms in the United States, has recently made a significant upgrade to its WealthSuite platform. This enhancement comes with the inclusion of First Trust Advisors L.P. (First Trust), a reputable player in the investment management space. With this new partnership, WealthSuite is set to provide a broader selection of investment strategies to its network of over 800 financial advisors, ensuring a more distinctive experience for their clients.

WealthSuite is no ordinary investment management platform; it is tailored to streamline portfolio management while simultaneously enhancing the overall client experience. The addition of First Trust positions the platform to offer a range of curated investment strategies, which now includes options from industry giants like BlackRock, Fidelity Institutional Wealth Adviser, Invesco, Orion Advisor Solutions, and WisdomTree. Each strategist was meticulously vetted for their investment capabilities, technology integration, and support in distribution.

The integration of First Trust brings innovative exchange-traded fund (ETF) models to the WealthSuite platform. These models cater to diverse investment objectives and can function both independently or be blended with other strategic models. This flexibility allows advisors to provide personalized solutions that better fit their clients' financial aspirations.

James Sullivan, the Head of Advisor Advocacy and Technology at Private Advisor Group, expressed enthusiasm about this development. He stated, "WealthSuite is a great solution for advisors who want to outsource certain portfolio management tasks. With the addition of First Trust, we’re providing our advisors with even more curated model options they can leverage to enhance their current strategies."

Ryan Issakainen, Senior Vice President and ETF Strategist at First Trust, also shared his excitement about this partnership: "Expanding our relationship with Private Advisor Group enables us to deliver innovative solutions like WealthSuite to the independent financial advisor community. Our ETF model portfolios are designed to add distinctive value to advisors aiming to enhance their service offerings."

Since its launch in October 2022, WealthSuite has focused on improving efficiency for advisors and elevating the investor experience. The platform offers a competitively priced, multi-custodian open architecture that embraces various investment strategies. These include bespoke mutual fund offerings, ETFs, blended mutual fund/ETF model portfolios, custom indexing, and tax-optimized solutions through a separately managed account framework. First Trust contributes three unique models to the platform and provides robust support at the field level.

PAG is committed to continuously assessing and broadening its available solutions, ensuring that both advisors and investors receive a differentiated experience. The firm has a strong reputation as a trusted financial services provider; it was founded in 1997 in Morristown, NJ and has managed over $35.2 billion in assets as of mid-2024. Additionally, it has been recognized by Barron's as a top 10 registered investment advisory firm consistently since 2019.

In summary, the collaboration with First Trust is a strategic move to bolster the WealthSuite platform further, empowering advisors with more choices and facilitating better financial outcomes for investors. As the financial landscape evolves, Private Advisor Group demonstrates commitment to leading the charge in providing innovative solutions for independent financial advisors.