Envestnet has hired Dana D’Auria, CFA, as co-chief investment officer. The former Symmetry Partners managing director also will serve on the investment committee of Envestnet | PMC and help grow the group’s fiduciary solutions and other resources, such as overlay services, research and portfolio management, the firm said in a statement Tuesday.
D’Auria is no stranger to Envestnet, having worked closely with the platform provider for the past 14 years as part of her role at Symmetry Partners, which builds investment portfolios.
Her hiring comes two months after Envestnet named Dani Fava, the former head of innovation for TD Ameritrade Institutional, as its head of strategic development.
“I am proud to officially join [Envestnet’s] investment management arm after witnessing firsthand how much its distribution and research services support growth for the firm, as well as [for] asset managers, advisors and investors,” D’Auria said in a statement. “I believe that solid research is the foundation for exceptional investment solutions for clients, and Envestnet shares this approach.”
At Symmetry Partners, D’Auria served as president and portfolio manager of the group’s Panoramic Mutual Funds. She also led the investments/research, mutual fund and investment communications departments. In addition, she helped develop new investment strategies.
“[Dana’s] experience providing evidence-based asset management to broker-dealers, independent advisors and clients and her interest in unifying data analytics with wealth management will help us position ourselves to deliver best-in-class investment solutions as our industry continues to evolve,” said Brandon Thomas, co-founder and chief investment officer of Envestnet, in a press release.
D’Auria earned a bachelor’s degree in English and international studies and an MBA at Fairfield University in Connecticut. She will work out of Envestnet’s Berwyn, Pennsylvania, office once its facilities fully reopen.
The announcement about her hiring follows Envestnet | Yodlee’s announcement last week that it had struck a data sharing agreement with Wells Fargo through which the bank’s customers can “more securely and seamlessly share” their financial data with the more than 1,400 third-party financial applications on the Envestnet’s Financial Data Aggregation Platform.
The deal follows similar data access deals that Envestnet | Yodlee signed earlier with financial firms Charles Schwab, Citigroup and JPMorgan Chase.
Today, some 103,000 advisors use Envestnet’s platform of asset managers and its databases.
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