Envestnet

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Sep 2, 2009 4:44 pm

Hi all,

We're currently evaluation Fidelity's IWS platform. As I understand, Fidelity uses Envestnet for portfolio management, among other functionality.

Anyone out there have experience with Envestnet? What's the Good? Bad? Ugly?

Thanks in advance.


Sep 4, 2009 4:49 pm

I'm with an Indy BD and I went to a presentation for them this past week.  They seem pretty expensive in my opinion.

Sep 8, 2009 2:13 pm

I concur with mrclutch's comment.  I think the technology is nice but the cost looms over the software like an elephant hovering over a shrub.  You should be in the ballpark around 50-55 bps.  Some firms might even be less, I'm not sure.  From what I can tell, it seems some Indy B/D's also tack on their own "program fee" of sorts which makes it even more expensive.  Ask to get a breakdown of the entire cost structure in advance and compare that with your own net income goals.  Feel free to call me if help is needed.  My # is 888-579-8640.  All the very best to you.