In its first major move since being acquired by Goldman Sachs last summer, United Capital announced today it has appointed Rachel Schnoll to head its technology platform FinLife CX.
The move sets the technology platform up for future expansion, United Capital said.
Schnoll will focus on broadening the accessibility and capabilities of FinLife CX, including providing more access to Goldman Sachs products and delivering a simplified pricing structure for clients, United Capital added in announcing her appointment.
FinLife CX is an ensemble of tools built for independent advisors to help them bring clarity to the financial lives of individuals and families. It incorporates United Capital’s planning, behavioral finance, investment and client experience technology.
Previously, Schnoll served as head of retail product strategy for Goldman Sachs Asset Management, where she led a team responsible for the development and ongoing product strategy of mutual funds, collective trusts and closed-end funds. She joined Goldman Sachs in 1999 and was named a managing director in 2013.
She will work with an expanded team of 200 technology developers to enhance FinLife’s capacity to strengthen advisor guidance and add scale and value to firms using the system, United Capital said.
“FinLife CX fulfills a critical need in the advisory space, where advisors require tools to deliver stronger, more customized and digital solutions for their clients. I’m confident we have a solid foundation in which we will invest and grow for years to come,” Schnoll said.
“This is just the start of the value and capabilities we will add to our offering by leveraging the scale and resources of Goldman Sachs,” said Joe Duran, CEO of United Capital.
FinLife will use a streamlined pricing structure based on the number of advisors using the system.
FinLife CX Marketplace also will offer GS Select, a digital solution allowing clients to access cash through securities-based lines of credit. By using portfolios as collateral instead of traditional solutions like mortgages or home equity line of credit, advisors using FinLife CX can offer a fast, transparent lending solution tailored to their clients, United Capital said.