How Park Avenue Securities helps drive business for its associates through technology, teaming, and relationships.
It’s not easy to talk to clients about protection needs in the wealth management space, but for Park Avenue Securities, with Guardian as its parent company, it comes a little easier. “Park Avenue is really special. We really take a combination approach to protection and investments. The wealth management conversation is much easier once you’ve had those difficult conversations with clients,” Carly Maher, Head of Wealth Management Strategy & Business Operations, explained. It helps that their main office is in beautiful Hudson Yards, New York City. “Park Avenue, being headquartered here in Hudson Yards in New York City, brings a really special kind of energy to the work that we do every day,” Carly says with a smile.
Further growth comes from finding the right technology partners. As Carly summarizes it, “Unlike lots of other broker-dealers that have lots of different technology offerings on their platform, we have a very curated list of strategic partners that we go very deep with from a relationship and integration standpoint.” And one of those partners was Envestnet
“Integration is really key and is important for us when we think about buy vs. build from a technology standpoint. When we buy, we want things to be integrated, and Envestnet has done a really great job of integrating solutions into their platform so that we don't have to cobble together technology resources to solve for the same problems,” Carly discussed.
Furthermore, Envestnet has provided the solutions and knowledge to help support the growing number of high-net-worth clients that Park Avenue and their financial professionals are supporting. “Nuance is important, especially for these higher net worth clients that are looking for customization,” Mike explained. Alexandre points out that the Private Wealth Consulting offering from Envestnet has helped him address the needs of his high-net-worth clients, too: “Private Wealth Consulting has been a game changer for us, because we now have the ability to have a portfolio manager that is sitting on the same side of the table.”
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