Raymond James Financial has introduced Private Wealth Guided Portfolios, which integrate traditional and alternative investments within risk-based portfolios for financial advisors serving high-net-worth and ultra-high-net-worth clients, the firm said.
The model combines equity and fixed income with a dedicated allocation to alternatives, providing exposure to private markets and hedged strategies alongside public-market investments, according to the firm.
“At Raymond James, we’re committed to being a destination for private wealth advisors and the clients they serve. Individuals and families with significant wealth require truly personal advice, backed by the right resources, to navigate their financial opportunities and complexities,” Raymond James Private Client Group President Tash Elwyn said in a statement. “Private Wealth Guided Portfolios are a meaningful addition to those resources, providing advisors with another way to help clients access alternative investments thoughtfully and in alignment with their goals.”
The launch adds to a list of investment products aimed at advisors that blend public and private assets. Wellington Management, Vanguard and Blackstone partnered to launch the WVB All Markets Fund and the WVB Blackstone All Privates Fund earlier this year. Capital Group and KKR were among the first asset managers to strike such a partnership, launching two interval funds focused on fixed-income investments.
In addition, Morningstar’s Morningstar Wealth division worked with Apollo, Franklin Templeton and J.P. Morgan Asset Management to launch a suite of public/private model portfolios. Those are just a handful of examples in the growing trend.
Raymond James asset management services group oversees portfolio construction for the models and works with the firm’s private markets and alternatives team to conduct due diligence and monitoring, the firm said.
“Access to private markets can provide clients with broader diversification and exposure to corners of the market that are not available through public markets alone. Advisors are increasingly incorporating these strategies in their portfolio construction to support clients’ long-term objectives,” Ken Novak, head of private markets strategy and co-head of the alternatives group, said in a statement.
Since launching in 2022, nearly 450 advisors have earned the Raymond James Private Wealth Advisor designation, according to the firm.