A fast-changing regulatory environment has made retirement advisors’ jobs more challenging. For many, technology has offered solutions that can help them stay ahead of regulatory issues while continuing to build a sustainable retirement plan advisory practice.
Envestnet | Retirement Solutions’ (ERS) Practice Advantage™ Signature Services was designed to address these challenges. ERS has created a service to outsource and deliver the required investment analysis and reporting on behalf of an enterprise to its advisors and plan clients. “Our integrated solution will empower every advisor, regardless of organizational structure or their degree of retirement focus, with easy-to-implement and easy-to-use solutions to help meet their fiduciary responsibilities,” says Babu Sivadasan, Group President, ERS, a practice management solutions provider based in Chicago, IL and a majority-owned subsidiary of Envestnet, Inc. (NYSE: ENV), a leading provider of intelligent systems for wealth management and financial wellness.
ERS’s Practice Advantage™ Signature Service is built around a suite of investment tools, workflow solutions and analytics tools. Retirement advisors can use these features to collect investment-related data such as fees and performance, as well as issue requests for proposals (RFPs) and develop and comply with each client’s individual investment policy statement.
The platform also includes a client relationship management (CRM) tool, an advisor management dashboard, investment analytics, fund research and monitoring, and vendor search solutions. Advisors also can customize investment reporting to meet the requirements of clients’ investment policy statements. To help advisors meet regulatory and security needs, the platform offers a compliance tool and a secure online vault where advisors can store client information and meeting notes.
Sivadasan stresses how important it is for turnkey asset management platforms to provide a wide range of features that help integrate retirement planning, saving, and the financial choices retirement savers make each day. “Whether it’s performing daily tasks related to investing, plan analysis and reporting, or moving to the next generation of integrated financial wellness, we offer the technology-driven solutions that enable advisors to streamline their operations and lay the groundwork for scalable growth,” he says.
Envestnet, Inc. (NYSE: ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet’s unified technology enhances advisor productivity and strengthens the wealth management process. Envestnet empowers enterprises and advisors to more fully understand their clients and deliver better outcomes.
Envestnet enables financial advisors to better manage client outcomes and strengthen their practices. Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. Envestnet | Tamarac provides leading rebalancing, reporting and practice management software for advisors. Envestnet | Retirement Solutions provides an integrated platform that combines leading practice management technology, research, data aggregation and fiduciary managed account solutions.
More than 87,000 advisors and 3,000 companies including: 16 of the 20 largest U.S. banks, 43 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisers, and hundreds of Internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences and help drive better outcomes for enterprises, advisors and their clients.