04.28.23

Envestnet Introduces Product Updates, New Partnerships at Annual Conference

by: Ryan W. Neal

Envestnet unveiled updates to its advisor platform and revealed new partnerships at its annual conference last week. Envestnet measured a 39% increase in new clients granted access to the digital portal during the pandemic and a 44% increase in logins, so providing a modern and intuitive digital experience is a primary focus, said Molly Weiss, Envestnet’s chief product officer for wealthtech and solutions. Envestnet is planning to roll out a new advisor experience in June, Weiss said, which will include making the client and advisor dashboards more customizable and improved automation of advisor workflows. Envestnet CEO Bill Crager, meanwhile, spoke about the need to further simplify the administration and service side of the business. To that end, Envestnet revealed more information about its new partnership with FNZ, a digital custodian founded in Australia. By combining Envestnet’s technology with FNZ’s digital custody services, the goal is to create a more unified digital ecosystem for advisors that includes automated digital account opening and instant accounting funding, said Tom Chard, CEO of FNZ North America.

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