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Practice Management > Building Your Business

Envestnet Launches New Advisor Analytics Tools

By Janet Levaux

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At its Advisor Summit in Austin, Envestnet said Wednesday that it is rolling out more analytical tools to help advisors improve their decision-making and boost business results.

“Envestnet Advisor Analytics represents our belief that the future of advice will be powered by the intelligent use of data … ,” according to Envestnet Wealth CEO Bill Crager. “We believe these tools will provide essential support to advisors in how they manage and grow their businesses and also how they intelligently engage their clients.”

The five new features on the Envestnet Advisor Analytics platform will include:

  • Enterprise Advisor Analytics: Practice-level dashboards that show fees and account performance, peer benchmarking analysis and predictive analytics;
  • RIA Analytics: Practice-level analytics and peer benchmarking analysis;
  • RIA Pulse (Live): A weekly aggregated market snapshot with peer RIA activity, product trends and seasonal market shifts;
  • Platform Integration: By combining platform insights with third-party data feeds, advisors will view fee and performance comparisons; and
  • LifeYield TaxEfficient Score Dashboards: Tied to Envestnet | Yodlee, advisors will have access to insights to help clients manage tax-smart investment portfolios.

“With this new suite of advisor tools, we are moving from 0 to 100 miles per hour in empowering advisors to make more informed recommendations to help clients achieve financial security and success,” said Frank Coates, executive managing director of Envestnet | Yodlee, in a statement. “We’re making it easier for advisors to manage their practices by providing actionable and digestible insights in a way that’s as simple as interacting with an Excel file, widget and weekly newsletter.”

— Check out Envestnet CEO Compares Advisors to Churchill on ThinkAdvisor.

Janet Levaux

@Think_JanetL

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