What You Need to Know
- Kestra Financial launched Retirement Plan Enterprise in partnership with Envestnet.
- The news was announced two days before the start of the Envestnet Advisor Summit in Charlotte, North Carolina.
- Winners of the 18th annual Asset Manager of the Year awards will also be announced during the event.
Kestra Financial has launched Retirement Plan Enterprise, a new retirement plan platform, in partnership with Envestnet Retirement Solutions.
The comprehensive retirement plan practice management platform was designed to “elevate retirement plan solutions” with features that include single sign-on capability within Kestra Financial’s proprietary technology platform, at no additional cost to advisors and other associated financial professionals, the companies said in a joint announcement Monday.
Noting that Kestra is “fervently committed to supporting our financial professionals and their retirement plan clients with best-in-class technology,” Taylor Hammons, head of retirement plans at the firm, said the new platform is “intuitive, innovative, and adaptable.”
RPE is the “ideal solution for financial professionals focused on this line of business,” whether they’re seeking “resources to service their existing retirement plan clients or to help them acquire new retirement plan business,” he added.
The platform includes a plan management dashboard developed to help advisors set and manage business retention and goals.
Other features include investment analytics, fund research and monitoring reports, along with request for proposal and vendor search tools designed to “automate, streamline, customize, and effectively manage the proposal and search process,” the firms said.
The platform was “tailored to both financial professional and plan sponsor needs, and provides the flexibility to account for evolving regulatory requirements and fiduciary standards, designed to ensure the financial professional’s recommendations are in the client’s best interest,” the companies added.
Kestra supports more than 1,800 independent financial professionals who managed $51 billion in client assets and had $114 billion in assets under advisement as of Dec. 31, according to its website.
More than 108,000 advisors and over 6,000 companies — including over 500 of the largest RIAs — leverage Envestnet’s technology and services, it said.