New Envestnet RIA Capabilities include Enhanced Fixed-Income Trading tool, Unified Managed Accounts Integration, and New Client Portal

Envestnet Co-CIO and Solutions Group President Dana D'Auria Takes the Stage at Future Proof 2024 to Address the Future of Investment Delivery

BERWYN, Pa., Sept. 16, 2024 /PRNewswire/ -- Time, arguably an advisor's most valuable resource, is often in critically short supply, insufficient for what they would ideally like to spend with clients. According to Envestnet's 2024 Advisor Perspectives Survey¹, nearly 40% of advisors are spending their time on investment management and administrative activities, with 30% saying they are not able to spend enough of their time with clients.

This survey also shows nearly two-thirds of advisors assemble their tech stack with several point solutions, yet almost half would prefer to use an all-in-one platform, which reinforces the importance of integrated practice workflows. In fact, when asked what would cause an RIA to switch technology partners, their top answer is to find a more seamless workflow among their tech stack components.

That's why Envestnet is launching new features and capabilities for RIAs on its wealth management platform, to help streamline business workflows and free up advisor time to do what they do best – serve the financial needs of their clients and enable better financial outcomes.  

"Supporting the growth and productivity of RIAs with our Envestnet | Tamarac and wealth technology solutions remains a strategic area of focus for our business, and these new features address the critical needs expressed by our clients," said Molly Weiss, Group President of Wealth Management Platform for Envestnet. "Our goal is to help streamline and optimize advisor workflows through advanced technology and insights, to enable them to focus more on client relationships and less on the administrative tasks that take up their valuable time."

"Envestnet | Tamarac continues to serve the needs of advisors looking for a pre-integrated, comprehensive, and RIA-focused platform," said Doug Fritz, founder and CEO of F2 Strategy. "The enhancements being introduced have helped F2's clients that are both long-time and newly-implemented Envestnet | Tamarac users.  Specifically, the updated client portal has been a much-appreciated enhancement as many clients look to extend their advisory experience beyond email and Zoom calls!" 

Envestnet will be onsite at the Future Proof Wealth Festival in Huntington Beach, Calif. this month to showcase and demonstrate its latest advancements for RIAs on its wealth management platform.

• Order Blotter Tool^NEW: This new feature for the Envestnet RIA platform simplifies fixed-income trade management with centralized order oversight, customizable data views, and automated reconciliation. It helps advisors manage complex portfolios and custodial relationships with greater efficiency and accuracy. "Advisors reported that managing fixed-income trades outside the platform was a major pain point. This tool eliminates that issue and significantly enhances trading operations with improved control, accuracy, and efficiency," added Weiss.
  
  
  
  
• Trading and Reporting^UPDATE: Ranked No. 1 for its Trading/Rebalancing Tools in the 2024 T3/Inside Information Advisor Survey, and among the survey's top three rankings for Management/Reporting Tools², Envestnet's RIA platform is used by over 2,700 independent RIA firms managing more than $1.9 trillion in assets.
  
  
  
  Now available as a standalone product, Envestnet RIA Trading is helping address firms' needs for a trading tool without switching their reporting tool, and integrates seamlessly with Envestnet Managed Accounts. This integration allows advisors to manage UMA sleeve allocations and streamline recommendations and performance reporting without switching platforms.
  
  
  
  And through Envestnet's ongoing Tamarac Reporting integration with MoneyGuide, advisors can continue to serve the planning needs of their clients more holistically – running updated goals-based plans with all their assets accounted for, two-way household data integration visible through the Client Portal, and a complete and seamless picture of a client's wealth through a goals-based plan.

• Client Portal^NEW: The updated portal consolidates client accounts into a single, user-friendly interface. Available on both iOS and Android devices, its mobile application enables advisors to monitor and manage assets, track goals, and provide personalized advice from almost anywhere. The portal's high configurability allows for a tailored client experience, enhancing engagement and planning.
  
  
  
  
• RIA Marketplace^NEW: Beginning on Oct. 1, Envestnet RIA clients can access fund strategist portfolios, comprised of ETFs and mutual funds managed by asset managers Envestnet | PMC, BlackRock, Fidelity, Franklin Templeton and State Street Global Advisers. As part of Envestnet's focus to help advisors deliver solutions to clients at scale, this new program is designed to help them find managed account solutions from some of the largest and most reputable asset managers, without a platform fee (or zero platform fee). *
  
  
  
  
• Envestnet Workplace for RIAs^NEW: Envestnet is making it easier for RIAs to expand their retirement offerings, or enter the space altogether, through its Retirement Marketplace that combines recordkeeping with a fiduciary proposal offering. Envestnet Retire Complete, built in partnership with Empower, is a cost-efficient retirement solution for wealth advisors looking to enter the retirement space or work with small-medium sized businesses without access to a retirement plan – combining Envestnet technology and fiduciary services with Empower's core capabilities. And as part of Envestnet's Data Solutions business, advisors have access to data aggregation tools that can provide RIAs with lead and prospect management, client- and plan-level aggregate views, a workplace management dashboard, and more.
  
  
  
  
• Envestnet BillFin: A cloud-based advisory billing software tailored for RIAs, with capabilities to make the billing experience more seamless and turn-key.  
• Advisory fees: Calculate flat, tiered, and banded AUM fees. Bill in advance or in arrears, based on the end of the period, with flows, or average daily balance. Easily set up asset exclusions by household, account, asset class, and/or individual security.  
• Payment files: Create simple CSV/Excel files of your fees to upload to your custodian system and collect your fees quickly. BillFin supports the file formats for many of the custodians in the industry. 
• Customizable invoices: BillFin is an integrated invoicing solution for producing one of your firm's most critical client-facing documents. Generate professional-looking invoices and fee statements.  
• Self-service onboarding: Onboard your households, accounts, fee billing rules, and fee schedules quickly with BillFin's onboarding utility

To learn more about these enhancements and capabilities, and participate in onsite product demos, visit the Envestnet booth #406 at Future Proof, the world's largest wealth festival, from September 15-18, 2024, in Huntington Beach, Calif. – or contact RIASales@envestnet.com to learn more today. More information can also be found on www.Envestnet.com/RIA.

Envestnet Co-Chief Investment Officer and Group President of Solutions Dana D'Auria will present on Future Proof's Surf City Stage, Tuesday, Sept. 17 at 3:20 p.m. PT, to discuss the future of investment delivery. Joined by a cross-industry panel, D'Auria will share insights RIAs should consider when making outsourcing decisions for their managed accounts.  

*RIA Marketplace provides advisors with access to Fund Strategist Portfolios (FSPs) managed by third-party asset managers who have entered into a strategic partnership with Envestnet. In connection with this relationship, Envestnet is compensated by the third-party asset managers based on the value of assets invested in the models participating in this program, which creates a conflict of interest. For more information regarding the RIA Marketplace Program and related conflicts, please see Envestnet's Form ADV Part 2A. https://www.envestnet.com/sites/default/files/2022-12/EAM-ADV-Part2A.pdf

About Envestnet

Envestnet is helping to lead the growth of wealth managers and transforming the way financial advice is delivered through its ecosystem of connected technology, advanced insights, and comprehensive solutions – backed by industry-leading service and support. Serving the wealth management industry for 25 years with more than $6.2 trillion in platform assets—more than 110,000 advisors, 17 of the 20 largest U.S. banks, 48 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs -- thousands of companies, depend on Envestnet technology and services to help drive business growth and productivity, and better outcomes for their clients.  Data as of 6/30/24.

Envestnet refers to the family of operating subsidiaries of the public holding company, Envestnet, Inc. (NYSE: ENV). For a deeper dive into how Envestnet is shaping the future of financial advice, visit www.envestnet.com. Stay connected with us for the latest updates and insights on LinkedIn and X (@ENVintel).

Plan sponsors will always retain some fiduciary responsibility and should therefore conduct their own initial and ongoing research and due diligence on third party service providers, including but not limited to trustees, investment managers, recordkeepers and third party administrators.

MEDIA CONTACTS:

Amy Norcini

Envestnet

amy.norcini@envestnet.com

Andrew Jennings | JConnelly for Envestnet

envestnetpr@jconnelly.com

¹ Envestnet Market Intelligence Advisor Survey, 2024, https://go.envestnet.com/Advisor-Perspectives-2024

² 2024 T3/Inside Information Advisor Software Survey https://t3technologyhub.com/wp-content/uploads/2024/01/2024-T3_Inside-Information-Software-Survey.pdf

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SOURCE Envestnet, Inc.