Envestnet leads $18.5-million ‘A’ raise to shore up the ’40’ in the $5-trillion -plus of 60/40 portfolios it administers for 108,000 advisors

December 7, 2021  |  By RIA Biz 

Rising Rival

Goldman Sachs Advisor Solutions (GSAS) last month announced a deal very similar to Envestnet’s. It not only increased its stake in InspereX but became a major client. GSAS is the Wall Street firm’s nascent RIA custody arm.

“[It will] provide one of the best fixed income experiences available to RIAs at a custodian,” says GSAS co-head Adam Siegler, in a release.

GSAS previously backed the InspereX’s predecessor, Incapital in 2012. Incapital recently merged with 280 CapMarkets, taking the name Insperex.

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