CHICAGO, Sept. 10, 2015
/PRNewswire/ -- Envestnet, Inc. (NYSE: ENV) has successfully
executed the first stage of integration between its ENV 2 platform
and Finance Logix's financial planning software.
Financial advisors using Envestnet and Finance Logix can now
leverage the two systems to seamlessly create more holistic wealth
management plans and, ultimately, generate more meaningful
engagement with clients.
"Our platform development strategy consists of tightly
integrating advisor applications in an open architecture
environment," said Jud Bergman,
Chairman and CEO of Envestnet. "Advisors have been
requesting a wealth management platform where financial planning
flows into investment planning and portfolio management. Now
that the integration of Finance Logix is underway, its goals-based
approach to financial planning will empower advisors to deliver
better outcomes to their clients and gain productivity."
An automatic authentication process between ENV 2 (Envestnet's
next-generation platform) and Finance Logix has already been rolled
out in the initial stage of the integration. Client accounts and
financial plans in Finance Logix are subsequently updated with data
imported from Envestnet on a nightly basis, enabling daily updates
of financial plan scenarios. The nightly data updates allow
advisors and clients to track account and financial plan
progress—and understand the context of any changes—in real
time.
In addition, advisors can now use the imported information to
build a financial plan in Finance Logix, and then send data from
individual client financial plan scenarios to ENV 2, where they can
create a proposal without logging out of Finance Logix. This key
integration enables advisors to put together more engaging and
robust financial plans and proposals for clients in less time.
Envestnet acquired Finance Logix in May
2015, and deeper integrations between ENV 2 and Finance
Logix's software are expected to be rolled out before the end of
this year.
"The combination of Finance Logix's hybrid goals-based and
cash-flow-based financial planning application with Envestnet's
broad suite of investment solutions, portfolio analytics, account
servicing, and reporting capabilities will establish an end-to-end
wealth management platform driving efficiencies and unlocking value
for advisors and clients across the entire lifecycle of planning
and investing," said Oleg
Tishkevich, Founder of Finance Logix and now Chief
Technology Officer of Financial Planning at Envestnet.
"As a longtime user of Envestnet's managed account platform and
Financial Logix's planning software, Securities America is pleased
to see the integration of these two powerhouse solutions," said
Dennis King, Senior Vice
President of Business Development at Securities America
Advisors. "Our advisors can now create more holistic,
goals-based financial plans with greater ease and efficiency, and
monitor them more effectively."
Envestnet has announced several deals in the past year,
including the acquisition of Finance Logix, to further build out
its unified platform. The firm completed a strategic investment in
AlphaHedge Capital Partners, LLC in April to offer access to
long/short equity strategies through separately managed accounts.
In February, Envestnet acquired Upside, a provider of digital
advice solutions, and leveraged the benefits of the acquisition by
launching the Advisor Now™ digital advice portal in May.
Envestnet also acquired Placemark Holdings, Inc., a leading
developer of unified managed accounts (UMA) programs, in October,
which positioned Envestnet as one of the top five UMA program
providers.
Last month, Envestnet announced a definitive agreement to
acquire Yodlee, Inc. (Nasdaq: YDLE), the leading cloud-based
platform driving digital financial innovation. After the deal
closes, Yodlee's powerful data aggregation and analytics tools will
empower advisors to provide a more informative and interactive
digital advice experience for clients than ever before. The
eventual integration of Yodlee's software into ENV 2 will enable
Finance Logix's goals-based financial planning tools, as well as
other offerings on the Envestnet platform, to produce an even more
powerful picture of every end client's financial health.
About Envestnet
Envestnet, Inc. (NYSE: ENV) is a
leading provider of unified wealth management technology and
services to investment advisors. Our open-architecture platforms
unify and fortify the wealth management process, delivering
unparalleled flexibility, accuracy, performance, and value.
Envestnet solutions enable the transformation of wealth management
into a transparent, independent, objective, and fully-aligned
standard of care, and empower advisors to deliver better
outcomes.
Envestnet's Advisor Suite® software empowers
financial advisors to better manage client outcomes and strengthen
their practices. Envestnet provides institutional-quality research
and advanced portfolio solutions through our Portfolio Management
Consultants group, Envestnet | PMC®. Envestnet | Tamarac
provides leading rebalancing, reporting, and practice management
software.
For more information on Envestnet, please visit
www.envestnet.com and follow @ENVintel
(https://twitter.com/envintel).
Media
Contact:
Dana Taormina
JCPR
(973)
850-7305
dtaormina@jcprinc.com
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SOURCE Envestnet, Inc.