A separately managed account platform that takes the financial advisor out of the equation has received a boost as five money management firms have come on board. 

Covestor Investment Management is due to announce the addition of Navellier & Associates, AlphaMark Advisors, Braver Wealth Management, King Investment Advisors and Mosaic Financial Partners. Collectively, the five firms manage more than $4 billion, Covestor said in a statement.

Covestor clients will have 12 new portfolios to follow, for a total of 24 professional money manager models and 34 models from non-professionals in the Covestor investment marketplace, the firm said.

The Covestor platform, CVIM, was launched in July last year