Independent BD and RIA affiliate launches third-party investment platform. San Diego-based Madison Avenue Securities (MAS) and its sister firm Madison Avenue Advisors (MAA) have launched a fee-based investment-advisory platform in partnership with FundQuest.

MAS is an independent broker-dealer; MAA is an RIA. Both firms are subsidiaries of Asset Marketing Systems Insurance Services, a San Diego-based insurance-product distributor works with more than 2,500 insurance producers. Between them, MAS and MAA field about 100 advisors.

Combinations

"This new platform helps us to build on our success in combining investments and insurance to provide a comprehensive offering for financial protection and asset accumulation," says MAS' compliance chief Suzanne Bond.

FundQuest's Wealth Architect platform gives advisors access to Russell Investments' Model Strategies and LifePoints funds. FundQuest's own ActivePassive portfolios provide investment strategies that blend actively managed accounts with passively managed investments like ETFs and index mutual funds.

Boston-based FundQuest is a subsidiary of Paris-based BNP Paribas. It provides investment services to 110 financial-service providers. It has $64 billion in assets under management and administration in the U.S. and Europe. -FWR

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