NEW YORK, April 21, 2026, 12:42 EDT
Citi Wealth plans to join forces with wealth-tech company Advyzon, aiming to roll out a global unified managed account platform. The move is set to streamline client investments—combining ETFs, mutual funds, separately managed accounts, and alternatives under a single structure. Target launch for the first phase: fourth quarter 2026, covering Citi Private Bank, Wealth at Work, Citigold, and Citi Private Client segments.
This push is significant for Citi, which continues efforts to streamline its wealth business and boost steady investment revenue. A unified managed account—known as a UMA—essentially brings multiple strategies together under one account, with consolidated fees, paperwork, and reporting that would otherwise be separate.
Citi has reason to chase this business. The wealth unit turned in $3.1 billion in revenue for the first quarter, an 11% increase over the same period last year. Client investment assets climbed 14% to $676 billion. Even so, preliminary net new investment assets dropped 11% to $15 billion.
The new program is set to feature views from Citi Wealth’s chief investment office. It’ll handle multiple currencies, covering both onshore and offshore structures, and plug directly into Citi Portfolio Solutions, which uses BlackRock’s technology. Back in September 2025, Citi announced the BlackRock tie-up, saying the asset manager would oversee roughly $80 billion in wealth client assets.
Keith Glenfield, who runs investment solutions at Citi Wealth, described the arrangement as “truly an industry innovation.” Advyzon’s founder and CEO, Hailin Li, put it bluntly: the target is “one global advisory platform.” Citi ended up tapping the Chicago-based firm following what it described as a competitive search. Citi
It’s a solid setup. According to MMI-Cerulli data out this month, total managed-account industry assets hit $16.3 trillion by the end of 2025. UMAs gained 4.5% in the fourth quarter, bringing in $94.9 billion in net flows.
Others are making similar moves. Last week, iCapital and Envestnet announced an expanded partnership, allowing advisors to put alternatives and structured products into a UMA. Wells Fargo, for its part, said last year that it was offering alternative investments through its Personalized UMA program. Gary Gallagher, president of iCapital, called alternatives “a core component of portfolios.” iCapital
Even so, don’t expect instant results. Citi flagged that the rollout isn’t kicking off until the fourth quarter—it’s a hefty undertaking, connecting the platform across North America, Latin America, Europe, the Middle East, Africa and Asia-Pacific. On another front, Reuters noted on Tuesday that private-credit fundraising barely budged in the first quarter, and direct-lending numbers hit a three-year low. Debtwire Europe’s Francesca Ricciardi called these pressures “structural rather than transitory.” Citi
Citi’s move marks another instance of the bank turning to third-party tech and asset-management firms instead of developing its entire wealth stack in-house. The approach showed up with the BlackRock mandate, too. InvestmentNews noted that wealth head Andy Sieg has been steering the business toward more recurring investment income—something the Advyzon decision fits right into.