Envestnet announced on Tuesday that it has expanded its analytics offerings to help advisors develop more valuable business intelligence. Seven new modules on the Envestnet platform will provide Envestnet, Yodlee and Tamarac clients with analytics, forecasting and performance reporting tools.

Envestnet announced the new offerings at the Envestnet Advisor Summit on Tuesday. 

Among the new offerings is Envestnet Fee Analytics, which lets advisory firms compare fees at the account level across the entire firm, and compare their fees to their industry segment and industry as a whole. Firms can analyze their fees to make sure they’re in compliance and competitive. 

“Knowing the right questions to ask is more important than having all the answers, which is where Envestnet Analytics comes into play,” Frank Coates, executive managing director of Envestnet | Yodlee, said in a statement. “Our domain expertise and cutting-edge data science tools, coupled with our vast data resources, allow us to define and answer the really important questions for businesses and individuals.”

Bill Crager, president of Envestnet, added that the enhanced tools will help “financial advisors and investment managers who often face difficulty finding a deep level of business intelligence that is specific to their firms” and will help “them analyze key competitive factors like fees and performance in a quick, cost-effective way.” 

ThinkAdvisor will be at the Envestnet Advisor Summit this week, where we will announce the winners of the 2017 SMA Managers of the Year. Click here to see all our conference coverage.