In the News

October 20, 2023

Equity Advisor Solutions, ETC Brokerage Combine to Create New Custodian

RIA custodian Equity Advisor Solutions and ETC Brokerage, both affiliated with the family that founded Equity Trust Company, have combined to create Innovayte, a new custody and clearing platform that seeks to work with “entrepreneurial” RIAs and broker/dealers. The new entity currently clears through Axos Clearing, but it will go self-clearing eventually.

Innovayte will be led by Catherine “Cat” Davies, who most recently served as chief solutions officer for Hightower. Davies first joined Hightower in May 2019 as chief of staff and head of business management. Before that, she served as senior relationship manager and vice president at Fidelity.

Davies said Innovayte will target firms with between $100 million and $800 million in AUM. She said with other, larger custodians, “while technology has been helpful, they’re not spending as much time and energy with those types of advisors…”