Jud Bergman, Envestnet CEO Jud Bergman, Envestnet CEO

Envestnet has updated its integrated portfolio, practice management and reporting solutions as part of the continuing evolution of its platform. The latest updates are intended to provide advisors with the tools they need to deal with the growing complexity of their business and provide a complete picture of their clients’ financial health.

The latest platform enhancements “are some of the most significant upgrades we have made to date,” said Blake Wood, senior vice president and director of product strategy.

They include:

  • Improved digital document and reporting options for clients, integrated digital advice account opening support for custodial partners and continued advisor dashboard development alongside book-of-business report.
  • Enhanced financial planning capabilities via Advanced Logix and Advice Logix planning tools that are native to advisor and client portals.
  • Bank trust support including improved trade execution and increased flexibility for importing and exporting account data in order to bridge the divide across different bank business lines. The eventual goal is a single, comprehensive platform for trading, reporting and supervision.
  • New data points and reports for analysis of investment management models and greater flexibility for creating and maintaining those models.
  • Pilot features including an integrated account opening process to prepare for the upcoming Envestnet Insurance Exchange.

The latest enhancements build on previous ones that improved the end-client experience and the ability of advisors to interact digitally with their clients. Envestnet serves more than 88,000 advisors and more than 3,500 companies, including banks, wealth management and brokerage firms and over 500 RIAs.

— Check out 10 Ways RIAs Can Crush It for the Next 5 Years on ThinkAdvisor.