Toronto-based national insurance marketing firm PPI and Vancouver-based robo-advisor firm WealthBar Financial Services Inc. have officially rolled out PPI Valet on Thursday
PPI Valet enables advisors who are only licensed to sell insurance from PPI’s two managing general agencies — PPI Advisory and PPI Solutions Inc. — to provide their clients access to professionally managed investment portfolios.
The new service, which is focused on combining online portfolio management with face-to-face financial advice, was first announced in August 2017.
“This new and easy-to-use online platform will help independent advisors do less paperwork and spend more time serving clients and growing their business,” says Tea Nicola, CEO and co-founder of WealthBar, in a statement. “Every [PPI] advisor across the country can leverage the expertise of registered portfolio managers and the assurance of regulatory compliance, without needing to have that expertise in-house.”
PPI Valet also offers marketing support and online tools as value-added services for advisors.
“This innovative robo-advisor platform gives advisors increased choice and convenience, which is exactly what they have been asking for,” says Jim Virtue, president and CEO of PPI Solutions, in a statement.
“We expect enthusiasm to grow as more advisors find out what they can get through PPI Valet,” he adds. “Low-cost, professionally managed portfolios and assured regulatory compliance. WealthBar handles the monitoring and rebalancing of accounts. It’s just a win-win for us to work together.”