Citi Wealth said Monday it is partnering with Advyzon and Advyzon Investment Management to launch a global unified managed account program for its private banking and wealth clients, with the first rollout set for the fourth quarter of this year. The platform will be offered to Citi Private Bank, Wealth at Work and Citigold private clients around the world.
The new UMA is designed to pull ETFs, mutual funds, separately managed accounts and alternative investments into a single account with one client agreement, one fee and a 360-degree view of holdings, while also expanding reporting for advisers and clients. Citi Wealth said the program will incorporate market views from its chief investment office, along with multi-currency capability, onshore and offshore structures and home office portfolios.
The move gives Citi Wealth another layer in a business that has been leaning harder on centralized portfolio construction. Citi Wealth will integrate the UMA with Citi Portfolio Solutions powered by BlackRock, after Citigroup handed BlackRock management of $80 billion in global private client assets in late 2025. That agreement shifted a large block of client money to BlackRock and set the stage for a broader overhaul of how Citi Wealth organizes advice and investment delivery.
Keith Glenfield said the program, powered by Advyzon’s agile and artificial intelligence-powered technology, will streamline many parts of Citi Wealth’s core advice offerings and improve the overall investment experience for clients. Hailin LI said the partnership is aimed at creating one global advisory platform that brings together prospecting, account opening, unified management account and household tools, client reporting and custodial capabilities.
The timing reflects a wider push across wealth management toward unified managed accounts and alternative investments, especially among firms trying to make portfolios easier to administer without narrowing the menu of assets available to clients. Cerulli Associates estimated that UMAs took in $257.7 billion in net flows over the five years ending in 2024, a period that came with an 18.7% compounded annual growth rate. Citi Wealth’s version is built to ride that trend while also linking more tightly to BlackRock’s portfolio machinery, a combination that could make the bank’s wealth platform more efficient — and more dependent on a small number of outside engines.
