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Envestnet, FNZ Partner on Wealth Platform: Tech Roundup

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What You Need to Know

  • Envestnet is partnering with financial services company FNZ to create a digital, integrated wealth management platform for the U.S. market.
  • Private Advisor Group introduced WealthSuite, a new investment management platform for its advisor network.
  • Orion Advisor Solutions launched Redtail Campaigns, a CRM-centric advisor marketing suite.

Envestnet is partnering with financial services company FNZ to create a digital, integrated wealth management platform for the U.S. market, the companies said in a joint announcement Thursday.

The integration of Envestnet’s and FNZ’s platforms will enable real-time account opening and funding, as well as digitally automated servicing and maintenance capabilities for the full lifecycle of the client account, the firms said.

The partnership will also provide insights and experiences generated by Envestnet Data & Analytics’ Wealth Data Platform to be integrated as part of FNZ’s platform and distributed to FNZ’s global client base, they said.

Envestnet’s WDP will be integrated as part of FNZ’s global platform and distributed in international markets starting in the first quarter of 2023, the firms said. The end-to-end digital wealth-management solution will be available in the U.S. during the second half of 2023.

By “leveraging FNZ’s international scale and data sets, Envestnet’s WDP will help enterprises, advisors, and asset managers more effectively run their businesses with advanced predictive models,” the companies added.

FNZ administers over $1.5 trillion in client assets representing over 20 million investors globally, and it partners with more than 650 large financial institutions and 8,000 wealth management firms in 21 countries.

Over 105,000 advisors and more than 6,500 companies — including 16 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs, and hundreds of fintech firms — use Envestnet technology and services.

Orion Launches Redtail Campaigns

Orion Advisor Solutions on Tuesday announced the launch of Redtail Campaigns, calling it the industry’s “first CRM-centric advisor marketing suite.”

The offering is “powered by” Snappy Kraken and “builds upon Orion’s legacy Market*r tool, empowering advisors and firms to drive new business and deepen client relationships through hyper-personalized marketing campaigns launched right from their CRM dashboard,” Orion said.

The offering was made possible by Orion’s acquisition of Redtail in the second quarter of 2022, it noted.

“With Redtail Campaigns, we’re marrying marketing, CRM and financial planning technology to accelerate the ‘Prospect-to-Plan’ journey and modernize this important advisor workflow,” according to Brian McLaughlin, president of Orion Advisor Tech.

Redtail Campaigns and Snappy Kraken content are now available as a seamless integration to Redtail CRM, and is available to Orion and Redtail users and also as a standalone product.

Early-access pricing is available for a limited time at $200 a month per user for an annual subscription with no setup fee. Standard month-to-month pricing is $305 a month per user with a one-time setup fee of $500. Standard annual contract pricing is $255 a month per user and no setup fee.

Private Advisor Group Launches WealthSuite

Private Advisor Group introduced WealthSuite, a new investment management platform that it said Thursday is exclusive to its network of more than 750 advisors.

The firm’s goal is that the platform will “drive efficiency for advisors and [offer] an improved investor experience,” it said.

The multi-custodian platform is “competitively priced” and offers mutual fund, exchange-traded fund and blended mutual fund/ETF model portfolios, along with custom indexing and tax-optimized solutions delivered via a separately managed account structure.

The platform is being supported by BlackRock, Fidelity Institutional Wealth Adviser, Orion Advisor Solutions and WisdomTree, who were “selected after a rigorous due diligence process encompassing an evaluation of investment management capabilities, technology integration, and distribution support,” Private Advisor Group said.

Private Advisor Group teamed with Orion to deliver the technology to power the account opening, management and servicing of accounts on the WealthSuite platform.

Private Advisor Group had more than $29 billion in assets under management as of June 30, it said.

FusionIQ Appoints Industry Veteran as CTO

FusionIQ appointed John Kimbro as chief technology officer, effective immediately, it said Wednesday.

Kimbro will report directly to Mark C. Healy, FusionIQ CEO.

The firm operates a digital investing platform that enables advisors to deliver a personalized, end-to-end investment experience to their clients at scale.

In his new role, Kimbro has “oversight for all aspects of the firm’s holistic technology solutions that support the RIA, broker-dealer, bank and credit union segments of the wealth management space,” FusionIQ said.

Kimbro has more than 32 years of industry experience, including senior technology, operations and strategy roles with Fidelity Investments and Bank of America.

Hamilton Lane to Launch Blockchain-Native Investment Fund

Hamilton Lane and Figure Technologies are preparing to launch three new share classes of Hamilton Lane’s private markets-focused fund registered under the Investment Company Act of 1940 that digitize the fund share ownership record on the Provenance Blockchain using Figure’s Digital Fund Service platform, the companies said Wednesday.

Hamilton Lane first filed for the new share classes on Oct. 26 for its Private Assets Fund.

The expected launch of the new share classes marks the first time a firm has provided exposure to a private markets investment strategy under the 1940 act through a blockchain-native share class, and is the “latest significant step in transforming and reducing inefficiencies within the private markets industry,” the companies said.

Bento Engine Launches Life Events

Bento Engine launched a new offering focused on Life Events.

The new solution provides advisors with targeted financial guidance to share with their clients and prospects, “pertaining to dozens of lifetime milestones such as birth of a child, buying a home, getting married, moving to a new state and many more,” the fintech firm said Wednesday.

The new program is in addition to Bento’s original library of 15 “Life in Numbers” age markers that focus on birthdates that trigger distinct wealth-management risks or opportunities, including the age 50 catch-up contributions or age 62 Social Security benefits, it said.

ICapital Teams With UnicornSP

ICapital teamed with Unicorn Strategic Partners, a distribution partner to asset managers, to launch an exclusive partnership to distribute private market and hedge fund investments to advisors in Latin America and intermediaries in the U.S. servicing non-resident Latin American clients, the firms said Wednesday.

Moneta Launches Client Portal Mobile App

Financial services firm Moneta said Tuesday that it launched a client portal “designed to optimize service with streamlined client-advisor communication, to further support individual financial goals.”

The integrated portal enables the company’s more than 6,000 clients across the U.S. to “interact with financial professionals in a digital, secure environment, at no additional cost,” it said.

Features include access to financials, instant messaging capabilities, online scheduling and DocuSign signature services.

The portal will be available as a mobile app on iOS and Android mobile phones and also accessible via a web browser.

The 100% partner-owned and fee-only firm offers advisory services through its RIA, Moneta Group Investment Advisors.

(Image: Shutterstock)


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