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Envestnet Cancels Advisor Summit

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Envestnet has canceled its Advisor Summit scheduled for April 29-30 in Austin, Texas.

“We have been closely monitoring the rapidly evolving situation with the coronavirus (COVID-19) for the past few weeks, hoping that things might take a turn for the better by the time April 29 rolls around. This does not appear to be likely,” the company announced on its website.

This the second big event to be canceled in Austin this month. On March 6, Austin Mayor Steve Adler canceled South by Southwest, an annual tech, music and movie event, due to fear about spreading COVID-19. It was set to begin on March 13.

Envestnet says it “will be promptly refunding registration fees for all attendees,” and advisors with questions about the refund process should contact [email protected]. It suggests that advisors who registered for the conference cancel as soon as possible their flights, checking if their airline is offering free cancellations due to the coronavirus, and their hotel reservations.

Envestnet is not rescheduling its annual conference but plans on sharing some of the planned keynotes sessions online. The company, which provides wealth management and financial wellness software for more than 100,000 advisors and more than 4,700 companies, says its next Advisor Summit will be in Nashville, Tennesee, on April 28-29, 2021.

“While everyone at Envestnet would like to hold the annual Advisor Summit as planned, we know that this is the right decision. The health and safety of our employees, clients, sponsors, partners, and all involved with the Advisor Summit remains our top priority.”

A few days after Envestnet canceled its conference, the Centers for Disease Control and Prevention recommended that “large events and mass gatherings” of 50 people or more should be canceled for the next eight weeks unless the events are required for the day-to-day operations of schools, institutes of higher learning or business. The CDC added that “events of any size should only be continued” if they adhere to “guidelines for vulnerable populations [older adults and those with chronic medical conditions], hand hygiene and social distancing” and virtual events are preferred whenever possible.

— Check out Wirehouses Limit Travel Due to Virus on ThinkAdvisor.