RIA in a Box Added to SEI Wealth: Tech Roundup

RIA in a Box’s MyRIACompliance software has been added to the SEI Wealth Platform, which is offered to financial professionals through SEI’s Independent Advisor Solutions.

The integration, announced Wednesday, allows joint clients of RIA in a Box and IAS to automate their compliance and registration processes within RIA in a Box to more easily complete registration and Form ADV filings, the firms said.

Advisors who use the SEI Wealth Platform and RIA in a Box can populate their data from SEI within the MyRIACompliance platform, for instance. This will let advisory firms “automatically track the necessary jurisdictions to register or notice files based on the location of their clients, better enabling them to meet the industry’s evolving regulatory requirements,” according to a statement.

In addition, the partnership allows advisory firms to easily view current assets under management from data held at SEI, which should help ensure it corresponds to AUM  figures listed on Form ADVs, the firms noted.

IAS provides some 7,600 independent financial advisors with wealth management services through outsourced investment strategies, administration and technology services, and practice management programs.

Envestnet Update

Envestnet has rolled out a Retirement Analytics solution for home offices, so firms and advisors have a tool that captures key data from their books of business tied to employer-sponsored retirement plans, and also helps their clients achieve better outcomes, the firm said Wednesday.

Envestnet Retirement Analytics, a component of the Envestnet Analytics suite, “applies an overlay” to the data that Envestnet Retirement Solutions collects directly from 401(k) recordkeepers, fund companies, custodians and other sources, the company said.

According to a statement, the insights provided should “give home offices a comprehensive overview of 401(k) plan trends and assets at the macro level, as well as at the individual plan, recordkeeper and fund family levels — enabling home offices to identify investment and growth opportunities for clients, strengthen partnerships and proactively monitor performance and risk.”

Users can print recordkeeper, fund family and advisor scorecards from Envestnet Retirement Analytics that show estimated growth over time based on 401(k) data analysis.

NaviPlan, MX Data Development

Advicent selected the MX financial data platform to enhance account aggregation capabilities in Advicent’s NaviPlan client portal, the companies said recently.

“Advicent’s integration with MX will provide NaviPlan client portal users with the ability to aggregate their own accounts, along with notable enhancements,” the firms said in the announcement.

MX enables financial advisors and their clients to “seamlessly import account data from thousands of financial institutions across North America—and easily incorporate that data into plans saved in NaviPlan,” the companies noted.

Account data imported via MX can also be updated in real time in clients’ financial plans that can be accessed at any time and from any location though the NaviPlan client portal, they added.

The NaviPlan platform’s transition to MX’s data and account aggregation software was part of Advicent’s most recent technology update on Aug. 28.