Yayati, a wealth tech startup on a mission to expand the use of options in the investment management space, is enriching its executive pool with a veteran leader from Altruist.
The firm announced Tuesday that Jerry Chafkin, former chief investment officer at AssetMark, has joined as its new CIO.
Chafkin parted ways with AssetMark in June 2022 after spending nearly a decade as its CIO since he joined in 2014.
He brings decades of expertise in portfolio strategy and risk management to Yayati which hopes to expand the use of options in wealth portfolios through its proprietary technology.
Chafkin is expected to play a central role in developing and advancing Yayati's PLASMA platform, a technology that enables advisors to automate and manage option-based separate account strategies. The platform is designed to help wealth managers execute option writing and hedging programs at scale across their client portfolios.
“We're thrilled to have Jerry officially onboard," Rajeev Sharan, founder and chief executive officer of Yayati said in a statement. “His reputation as a thought leader and his deep expertise in the asset management world make him an invaluable addition to our leadership team."
Chafkin's relationship with Yayati precedes his CIO appointment, Sharan said, as he's been an advisor to the firm since inception and was a valuable collaborator in developing core pieces of the wealth tech provider's proprietary PLASMA technology.
While there have been cases of advisor demolishing their clients' savings with high-risk options trading, Chafkin argues that with the right product and process, options can be a force for financial good.
“The opportunity to expand the use of options in a way that benefits more investors is incredibly exciting to me,” Chafkin said, highlighting the potential to "fundamentally reshape the traditional risk-return paradigm" by "allowing retirees and investors to maintain stock market exposure while enjoying greater peace of mind.”
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