United Capital Financial Advisers announce a number of company initiatives on Tuesday, including the substantial growth and success of FinLife Partners, three key executive hires, and the introduction of Australia-based AMP Limited as a new strategic partner.
FinLife Partners, which is a financial life management operating system that allows independent advisors access to United Capital's proprietary Financial Life Management platform, launched in April of last year.
Since its launch, FinLife Partners has "easily surpassed" its projected contract targets, according to United Capital. It has delivered $6.9 billion in assets under contract, and the firm expects several billion more by the end of the year.
Discussions between United Capital and AMP Limited, a financial services company based in Australia and New Zealand, began thanks to AMP's interest in licensing FinLife Partners. The talks then evolved into a discussion around a more strategic intellectual property sharing partnership.
As part of the agreement, AMP Limited has invested in United Capital and will hold a small equity stake.
"United Capital's mission to help clients live fulfilling lives aligns with AMP's own vision," said Joe Duran, founder and CEO of United Capital. "Focusing on and anticipating future consumer demands are the only way to stay relevant in this industry, and AMP is helping to support our endeavor to ramp up our technology and marketing efforts. With their help, FinLife Partners will continue to mature and better suit the needs of advisors and the investors they serve, wherever they may be."
The growth of FinLife Partners, in addition to the expansion of the firm's core financial life management business, which has grown $2.4 billion this year to $19.8 billion in total AUM, has required United Capital to invest further in its people.
The firm recently added adding three key executives to help drive the success and adoption of the platform and the firm's marketing efforts.
