Envestnet Launches Custom Strategies With 4 Big Asset Managers
What You Need to Know
The alliances will focus on three key growth areas, including solutions for UHNW clients.
Advisors and clients want customization at scale, a top Envestnet exec says.
The offerings will also include direct indexing solutions.
Envestnet is launching personalized strategies for advisors and their clients through expanded partnerships with BlackRock, Fidelity Investments, Franklin Templeton and State Street Global Advisors, the fintech firm announced Wednesday.
Envestnet plans to work with these asset managers to build tailored investment strategies that advisors can use to help individual investors address specific financial goals, risk tolerances and personal circumstances, it said in a statement.
The fintech plans to offer the strategies to the more than 109,000 advisors using its platform.
“By bringing these solutions from asset managers into our ecosystem, we believe advisors will be able to capture share and serve more of their clients’ unique needs,” Tom Sipp, executive vice president, Envestnet business lines, said in a statement.
The asset managers will offer unified managed account-eligible direct indexing, custom high-net-worth solutions and more on Envestnet’s platform and invest in enhancements to Envestnet’s UMA ecosystem.
Specifically, the alliances will focus on:
UMA-eligible personalized direct index solutions from each of the managers
One-to-many models that allow advisors to offer high-net-worth and ultra-high-net-worth clients solutions
One-to-many or one-to-one models for accounts over $1 million, created to client specifications and featuring asset manager solutions, created by the asset manager or Envestnet PMC, and supported by investment and client-facing portfolio managers.
“Our advisors and their clients are asking for personalization at scale and affordable platform options that leverage our UMA capabilities,” said Dana D’Auria, group president of solutions and co-chief investment officer at Envestnet.
