Envestnet PMC announced Tuesday, July 6, that it will begin to offer Singer Partners' Dynamic Portfolio Series of global asset allocation portfolios on the Envestnet platform, complementing the Envestnet platform's current strategic and tactical asset allocation portfolios. The new offerings including PMC Select Portfolios, a family of asset allocation wrap funds, and PMC/Singer Partners Dynamic ETF Portfolios.
In a statement announcing the partnership, Envestnet PMC's co-founder and CIO, Brandon Thomas, said the deal reflects Envestnet's "commitment to aligning with institutional-quality managers and delivering innovative solutions that meet the demands of a dynamic investment marketplace."
Envestnet PMC is the portfolio consulting group of Envestnet, Inc., which provides a host of nonproprietary investment and wealth advisory products and services to advisors in both the RIA and independent broker/dealer spaces.
In May, Envestnet filed for a $100 million initial public offering of stock.
In June, the company announced the acquisition in April of B-Ready Outsourcing to provide back-office services to users of Schwab's Portfolio Center portfolio management system.