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Portfolio > Portfolio Construction

HD Vest Rolling Out Envestnet Portfolio, Other Tools for Its Advisors

By Janet Levaux

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Broker-dealer HD Vest says it is working with technology provider Envestnet to give its 3,700 affiliated independent advisors more ways to grow their practices.

The partnership means the advisors using HD Vest’s platform can now access Envestnet tools for model management, proposal generation, unified managed accounts (UMAs), overlay models and online reporting, as well as information about client allocations and risk parameters.

“Our mission is to give independent advisors a holistic view of each client’s overall financial picture, which is enhanced by [our firm's] Tax Smart Investing insights — a key industry differentiator,” according to HD vest CEO Bob Oros. “Envestnet’s solutions are the latest additions to our ecosystem of the best technology and tools from across the industry, which advisors can use to start more holistic financial services conversations with clients.”

The Envestnet resources that have been customized and branded for HD Vest advisors include:

  • VestAdvisor Discretion/Non-Discretion, an Advisor as Portfolio Manager (APM) program for portfolio models;
  • VestAdvisor Select, a wrap-fee program with mutual funds and exchange-traded funds; and
  • VestStrategist, a discretionary unified managed account (UMA) program with separately managed account (SMA) models.

Also, HD Vest advisors working with retirement plan sponsors can use Envestnet | Retirement Solutions’ Compliance Advantage platform that aggregates data from HD Vest’s full product suite.

“As the industry continues to evolve, our solutions and services can be personalized to help advisors of any practice size meet the needs of their clients,” said John Yackel, head of institutional business development at Envestnet, in a statement. “By working with HD Vest and its advisor partners to help them optimize their practice operations, we can empower them with the tools to strengthen client outcomes as well as meet their business goals.”

Janet Levaux

@Think_JanetL

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