Next-Generation Updates Enhance the Advisors'
Day-to-Day Experience, through a Focus on
Proposal & Trading, Client Portal, Envestnet's Insights Engine,
and Optimized User Experience
BERWYN,
Pa., Sept. 11, 2023 /PRNewswire/ -- Envestnet
has rolled out another series of enhancements to bring more of its
ecosystem together for advisors. Enhancements to the Envestnet
platform were introduced as part of Envestnet's ongoing effort to
drive growth and greater productivity for its nearly 3,000 RIA firm
clients and 47 wealth management and brokerage firm clients through
a consistent and unified digital experience.
"Through the continual enhancements to our integrated Envestnet
ecosystem, advisors can improve their productivity, unlock new
revenue streams, and be able to deliver more personalized
investment solutions at scale, all while elevating the client
experience for better outcomes," said Tom Sipp, Executive Vice President, Business
Lines at Envestnet. "Smart advice and smart technology are a
powerful combination—and based on advisor feedback, we have further
tailored our platform to enable advisors to maximize the value they
can add to every client's life."
Enhancements throughout the Envestnet ecosystem include:
Proposal
- Security search enhancements within mutual account
creation.
- Extension of holding-level funding to ensure accurate
reflection in the "Current Investments to Retain" and "Current
Investments to Liquidate" proposal documents.
Trading
- Generic orders for fixed-income securities, fulfilled by
entering external trade details.
- Trade simulations to give advisors greater visibility into
possible outcomes and enable better trading decisions.
- Worksheet trading tool enhancement to allow for sector-based
trading and rebalancing, in addition to style-based trading
and rebalancing.
Client Portal
- Branch-level enablement, with templates configured at the
Enterprise, Firm, and Branch levels.
- Better account navigation to strengthen the digital access
experience for linked and closed accounts.
Insights Engine
- The Insights Engine, part of the Envestnet Wealth Data
Platform, now offers more than 100 different types of data-driven
insights for advisors curated daily, including the new Money In
Motion AI-reliant insight that establishes patterns in account
activity and cash flows -- such as regular deposits or withdrawals
– and immediately calls out any significant deviations for
advisors. For example, flagging large, very small or no monetary
deposits, which can prompt advisors to determine cause and work
with clients on any financial position changes.
- Additional insights include opportunities for:
- Tax loss harvesting
- Identifying whether a client has underperforming
products.
- Indicating a client who is retiring this year or approaching
retirement.
- Flagging if a client has a financial plan that needs
updating.
- Alerting if a client may have a life insurance gap in their
plan; among many more.
Industry recognized, Insights Engine was named "Best AI-based
solution for Financial Services" by the AI Breakthrough Awards in
2023.
"We've seen advisors harness Insights Engine to achieve
significant year-over-year growth in brokerage-to-managed account
conversions, and it provides advisors with an unmatched opportunity
for growth and increased productivity," added Mr. Sipp.
RIAs can now directly access Envestnet's Insights Engine from
the Tamarac CRM portal. To learn more, please
visit https://www.envestnet.com/data-intelligence.
User Experience
- Customizable Support & Training Center link provides easy
access to documentation and training videos directly from
the Envestnet platform.
- Notes columns reimagine how advisors view and interact
with notes on accounts, proposals, and service requests.
- Performance reports optimized to improve load times and the
visualization of exported reports.
- "Quick Bookmark" Function enables advisors to quickly and
seamlessly access various account, client, and other platform
pages.
- "Quick Launch" actions allow advisors to instantly launch into
key workflows and platform pages, including active proposals,
service request lists, client overview pages, and master account
lists.
"The goal of our end-to-end ecosystem is to bring advisors and
their clients closer together at every point in their journey,"
said Molly Weiss, Chief Product
Officer, WealthTech and Solutions at Envestnet. "A third of all
RIAs who manage more than $1 billion
in assets under management use Envestnet for a reason. Our
platform creates an optimized and seamless digital experience that
helps them make sense of their clients' short- and long-term
finances—and become indispensable navigators for every client's
financial life."
Advisors attending Future Proof in Huntington Beach, CA from
September 10-13, 2023 can learn more
about Envestnet and its ecosystem by attending the following
keynote sessions:
Powerhouse Perspectives: Envestnet's CEO Bill Crager
Monday, September 11
12:05 p.m. – 12:35 p.m. PT
Ocean Stage
A Battle for the Ages: Unpacking Generational Perspectives in
Financial Uncertainty
Featuring Rich Aneser, Chief
Strategy Officer of Envestnet
Wednesday, September 13
9:50 a.m. – 10:40 a.m. PT
Ocean Stage
About Envestnet
Envestnet is transforming the way financial advice is delivered
through an ecosystem of technology, solutions, and intelligence. By
establishing the connections between people's daily financial
decisions and long-term financial goals, Envestnet empowers them to
make better sense of their finances and live an Intelligent
Financial Life™. With more than $5.4 trillion in platform assets, Envestnet
provides technology and services to more than 107,000 advisors, 16
of the 20 largest U.S. banks, 47 of the 50 largest wealth
management and brokerage firms, more than 500 of the largest RIAs,
and thousands of companies to help drive better outcomes for their
businesses and their clients.
Envestnet refers to the family of operating subsidiaries of the
public holding company, Envestnet, Inc. (NYSE: ENV). For more
information, please visit www.envestnet.com, and follow us on
LinkedIn and X (@ENVintel).
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SOURCE Envestnet