Envestnet Highlights Tech Progress Amid Rumors of Acquisition Talks

Envestnet’s conference kickoff also highlighted results from a new market intelligence survey that reinforce a trend that the firm already sees playing out among its clients and partners. That is, while most advisors currently assemble their technology stacks with “point solutions,” an all-in-one technology platform that serves most or all their business needs is by far the winning choice.

More News From Opening Day

According to Weiss and other executives, Elevate sets the stage for advisors to learn about Envestnet’s customizable platform capabilities and integrations across tax management solutions, direct indexing, insurance, credit, retirement solution and more.

Newly revealed enhancements include an “Unleashing Overlay” initiative that seeks to reduce accounts submitted not in good order and provide transition analysis integration to the digital proposal workflow. The approach also improves the ease of uploading cost basis information, delivering enhanced account reporting, and offering tax loss harvesting of single sleeve mutual funds and ETFs.

Further, Envestnet is expanding its partnership with iconik, allowing advisors to personalize proxy voting for their clients even as new voting disclosure rules take effect this summer. In addition, new machine learning insights have been added to the firm’s Insights Engine, which are now directly accessible within the wealth data platform dashboard. Firm leaders said Envestnet has seen a 47% year-over-year increase in advisor usage of such insights.

High-Net-Worth Investor Services

Other points highlighted in the conference kickoff include the fact that, by 2025, there will be nearly 9 million high- and ultra-high-net-worth individuals in the U.S., a 33% increase from 2022.

As such, according to Envestnet, 32% of advisors are looking to add or place greater emphasis on specialty services in the next year.