As a proud sponsor and mainstage speaker at Schwab IMPACT 2022, it was so good to connect with Registered Investment Advisors (RIAs) from around the country, and we thank all who joined our mainstage session or stopped by our booth.

With a focus on Envestnet’s financial wellness ecosystem and how our resources and technology can help advisors deliver more tailored solutions, our “Personalization at Scale” mainstage session was a popular choice for advisors. For this session, I was joined by Kevin Hughes, Chief Growth Officer at Envestnet | MoneyGuide, and Brian Daley, RIA Sales at Envestnet | Tamarac.

Here’s a recap of what we covered:

The latest trends: What’s most important to investors

I started our session by covering the evolving social behaviors of investors, especially the demand for personalization and services and solutions on their terms. As top-tier advisors think about the sophisticated needs of their high-net-worth clients, more and more are looking for personalization.

In fact, according to research from McKinsey, 80% of consumers say that more personalized, tailored solutions are important to them.1 And when Broadridge asked investors what they like to see in communications from their advisors, respondents preferred personalized information. Finally, our research indicates that 70% of wealth management clients see highly personalized services as a factor in deciding whether to stay with their current advisor or switch to another firm.2

Without a doubt, the need for personalization is here to stay – and investors expect the advice and services they need to live an Intelligent Financial Life that connects their present-day finances with their long-term goals. My introductory remarks concluded with an overview of what an integrated wealth management platform means and how Envestnet delivers across our ecosystem.

MoneyGuide: Digital Financial Planning Across all Demographics

Hughes then joined the stage and reviewed the Envestnet | MoneyGuide platform, the industry’s #1 financial planning tool .3 He stressed the importance of starting every client engagement with a financial plan to help clients define and prioritize goals that can put their financial decisions into perspective. According to our research, Hughes reviewed the accelerated interest in planning as more investors came out of the pandemic with a heightened awareness of health and wealth. He believes a comprehensive financial plan has never been more critical than it is today.

Hughes reviewed the MoneyGuide suite of services and how they support clients across all demographic and life stages, focusing on Wealth Studios, MoneyGuide, and MyBlocks. He also shared a demo of how MoneyGuide integrates with Envestnet | Yodlee, Riskalyze, and the Tamarac platform.

Tamarac Reporting, Trading, and CRM: Managing Your Business Operations with Ease

Our session then moved to Daley for a Tamarac platform demonstration. He started with a demo of our new client portal and examples of MoneyGuidePro integrations, including MoneyGuide goals, Play Zone®, and the Envestnet | Yodlee platform for a comprehensive view of spending and budgeting.

Daley discussed enhancements to the Tamarac investment administration platform, including:

  • Tax budgeting tools to help you provide the guidance clients need to help ease their tax burden
  • Fully Digital Account Opening for custodial accounts to streamline onboarding
  • SalesForce integration to help you better connect with your clients
  • Envestnet’s Proposal Tool that now launches directly from Tamarac, offering greater efficiency and productivity

Unified Managed Account Program: Easily Integrates and Delivers Customization

Daley concluded our session with a discussion on the Tamarac Managed Account Platform and how it allows you to integrate multiple separately managed accounts (SMAs), mutual funds, ETFs, and individual securities into a single brokerage account, making it easier to coordinate client-specific strategies.

As top RIAs look for a better way to deliver more personalized portfolios that align with their client’s unique needs, Daley described how he sees unified managed accounts (UMAs) as the potential solution, enabling client-centric investment strategies with greater precision and efficiency. He covered five key features of our Unified Managed Account Program:

  • Access to Manager Research and Analytics. Our solution features more than 1,600 SMA strategies integrated within a UMA administration solution, including access to comprehensive qualitative and quantitative manager research.
  • Proposal Generation. The Envestnet Proposal Generation Process is integrated with Riskalyze, allowing you to instantaneously import model portfolios and associated risk numbers.
  • UMA/SMA Administration. A centralized UMA/SMA administration capability, all within a single and integrated Tamarac Trading and Reporting environment, allows you to implement multiple SMA strategies in the context of a single brokerage account.
  • Overlay Services. Tax and impact overlay services offer an extra layer of customization to personalize client portfolios without adding additional work.
  • Index Replication. Direct indexing allows you to provide inexpensive equity exposure to a variety of asset classes while creating a bespoke solution customized to help meet your clients’ tax needs and investment preferences.

Learn More

At Envestnet, we are Fully Vested in helping you address the critical challenges you face as you evolve and grow your practice. To learn more about how you can deliver greater personalization at scale, connect with us at RIA

  1. McKinsey: Personalization at scale: First steps in a profitable journey to growth, 2018
  2. Investor Preferences Undergo Lasting Transformation from Covid-19 Pandemic, Broadridge 2020
  3. T3/Inside Information Advisor Software Study, 2020

The services and materials described herein are provided on an ‘as is’ and ‘as available’ basis, with all faults. The graphical illustrations herein do not represent client information or actual investments. Nothing contained in this presentation is intended to constitute legal, tax, accounting, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Envestnet disclaims all warranties, express or implied, including, without limitation, warranties of merchantability or fitness for a particular purpose, title, non-infringement or compatibility. Envestnet makes no representation or warranties that access to and use of the internet while utilizing the services as described herein will be uninterrupted or error-free, or free of viruses, unauthorized code or other harmful components. Envestnet reserves the right to add to, change, or eliminate any of the services and/or service levels listed herein without prior notice to the advisor or the advisor’s home office.

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