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