In the News

October 20, 2023

New Custodian Launches Headed by Ex-Hightower Exec

Broker-dealers and registered investment advisors have one more custodian to choose from with the launch of Innovayte.

Equity Advisor Solutions and ETC Brokerage have partnered to develop the custody and clearing company, which has been in development over the past 18 months, Jeffrey Desich, chairman of Innovayte and executive vice chairman of Equity Trust Co., said in an announcement from Innovayte on Thursday.

The new firm will be led by Catherine “Cat” Davies, who’s been in the financial services industry for over 25 years and most recently served as chief solutions officer at Hightower, according to the announcement.

“Having spent more than a quarter century serving and supporting independent advisors, I recognize that RIAs and broker-dealers need more choice and better options,” she said in the announcement…