tru Independence, a $9.5 billion registered investment advisor platform based in Portland, Ore., on Tuesday debuted truView, its new tool that combines "business insights, client information, portfolio management, risk metrics, planning and investment management all embedded together, operating as one piece of technology,” according to the company.
Amit Dogra, president and COO of tru Independence, said the company began development of the truView platform over a year ago and first shared a beta version with their advisors in October 2022 at their annual conference: Canvas 2022.
Technology platform Advyzon, which is currently used by over 1,300 firms, was chosen as the foundation for truView.
“We were excited when the opportunity to help create the foundation for truView came about. We truly understand that experience as a service is the connective tissue that binds everything together and our technology is developed with that in mind,” stated Lee Andreatta, CEO of Advyzon Investment Management. “While it may not be the immediate focal point of industry discussions, this concept is top of mind for advisors. We are more than happy to work with Amit and tru, operating as the fintech engine that brings truView to life.”
Australian-born startup advice and client engagement platform Lumiant also signed on to support the behavioral finance aspect. Lumiant was founded in February 2021 and entered the U.S. market in May 2022. In September 2022, Lumiant announced it received an undisclosed amount of funding from well-known financial advisor Ric Edelman.
“The concept of an experience-centric platform made complete sense to us. With the launch of truView, Amit and his team are doubling down on a belief that is also deep at the heart of Lumiant — that financial planning needs to be expanded to help clients and advisors understand the ‘why’ behind their financial and non-financial goals so that they can live their best life,” stated Blake Wood, U.S. CEO of Lumiant. “The best advice experiences transcend traditional outputs, and we look forward to partnering with truView to co-create an innovative, robust and complete client engagement process as an integral part of tru’s EAS platform.”
Dogra said the idea of EAS “has been something the industry has discussed and advisors have demanded for quite some time.”
“Not until now has the concept been able to be clearly articulated,” said Dogra. “In conversations across the industry and interviews with financial services executives, who have all been talking about the need for a better experience, the definition of EAS became clear. At tru we don’t see ourselves as the owners of EAS and we invite the entire industry to join us in what we think will be the next seminal moment in our industry.”
In April, tru Independence announced a partnership with Seven Mile Advisory, a multifamily office in New York City advising on more than $1 billion in assets for some 25 families. Seven Mile serves ultra-high-net-worth business owners, private equity and real estate professionals, athletes and entertainers. Founder and CEO Pamela Perskie leads the team of four, including Keith Feinberg, COO and wealth strategist, as well as Emily Herrup and Nicole Bellefeuille, vice presidents and client advisors.
“Our partnership with Pam Perskie and the team at Seven Mile Advisory has been great,” said Dogra. “Pam is someone that others recognize as an industry innovator and thought leader. The partnership has already led to a tremendous amount of advisor inquiries in tru and we are humbled by the interest.”