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enhance client services. The overarching aim is to facilitate a more informed, efficient and automated approach, ensuring advisors can navigate and utilize data efficiently. What are the latest developments and trends at Envestnet right now? Tom: Operating at a massive scale, Envestnet maintains the top position as a wealth management platform. The ongoing efforts involve holistic integration of the firm as one cohesive entity. Collaboration with clients and asset management partners remains a priority, allowing them to provide fully integrated and differentiated asset management solutions tailored to their client base. How does Envestnet view the future of advice when it comes to the holistic intelligent and connective ecosystem? Molly: Portfolio management has transformed significantly, moving beyond traditional stock trading. While stock selection remains, it’s now just a fraction of what advisors do for clients. The focus is shifting towards holistic client service at the household level. The emphasis lies in identifying solutions that align with a client’s short-term and long-term goals, extending to future generations. The concept of Unified Managed Household (UMH) is gaining prominence, surpassing
the limitations of a single account or registration. This approach allows for a comprehensive portfolio management strategy that considers diverse assets needed to effectively serve a client’s household across various accounts and registrations. What has the reception been with all of the new developments from the clients? Tom: Envestnet prioritizes client satisfaction by tailoring their services to their operational platform, business processes, and technological preferences. Their platform’s maturity enhances the experience, resulting in unprecedented client contentment. Future investments focus on optimizing asset managers’ utilization of their platform for managed account solutions and advancing digital experiences for both advisors and clients. Streamlining interactions on a unified platform, Envestnet integrates services from advisors to custodians and execution. Embracing managed household and portfolio management, their approach blends data, digital automation, and holistic asset management. Operating at scale, they unify the platform and collaborate extensively with asset management partners, delivering personalized solutions seamlessly integrated throughout our services.
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