New client relationships and the retention of existing clients helped Fortigent, LLC report its best six month period ever on Thursday.

The firm, which offers outsourced wealth management solutions for financial advisors and institutions targeting high net worth clients, announced that in the first half of 2010 22 firms, representing banks, trust companies, and start-up and existing registered investment advisors selected Fortigent for their outsourcing needs.

Fortigent now works with more than 80 firms that advise high net worth clients on more than $40 billion in assets.
 
“The first half of 2010 saw the wealth management industry come out of the 'defensive crouch' it had been in since the fall of 2008,” said Andrew Putterman, CEO and President of Fortigent, in a press release. “Advisors began to focus again on growing their practices, and they wanted to make sure they had the right solution for sophisticated clients putting 'money in motion'.”
 
Some of the advisors who hired Fortigent broke away from larger financial institutions and established independent firms, Putterman said. Others hired Fortigent so they could focus on their core competencies.
 
Putterman added that the firm is seeing an increase in interest in its unified managed account and alternative investment platforms and it believes there will be a growing demand for these platforms by advisors targeting the high net worth marketplace.