NEW YORK, April 2, 2013 /PRNewswire/ -- Gold Bullion International (GBI), a leading provider of physical precious metals to the wealth management industry, and Envestnet, a leading provider of unified web-based wealth management technology and services to investment advisors, announced today the integration of physical precious metals holdings into the reporting software offered through the Envestnet Advisor Suite.
The integration will now allow registered investment advisors using GBI's advisor platform (GBIA) to buy, sell and store physical precious metals to automatically stream performance data from a client's holdings into their Envestnet reports and to view the precious-metals allocations alongside an overall investment portfolio. This marks the first time physical precious metals holdings will be reported through any advisory software, including Envestnet's.
"In an increasingly competitive advisory space, access to alternative investments like physical precious metals provides a real advantage for advisors who are looking to diversify their clients' portfolios out of traditional assets," said Steven Feldman, CEO of GBI. "In collaboration with Envestnet, we are pleased to offer advisors a new way to provide a holistic view of performance across investment portfolios."
Advisors using GBIA can buy, sell and store physical precious metals on behalf of their clients. Leveraging Gold Bullion International's proprietary technology, orders are placed for competitive bid by the firm's network of dealers and refiners, ensuring that both advisors and their clients receive competitive pricing. Precious metals including bars and coins of gold, silver, platinum and palladium can be stored in six global, insured vaults operated by Brinks, Via-Mat, and Malca Amit and are also allocated to the client's name, unlike traditional bank and dealer processes, and unlike the precious metals ETFs.
"Advisor-client communication continues to be a core element of a successful practice," said James Patrick, Managing Director, Advisor Managed Program of Envestnet. "Our reporting arrangement with GBI is a natural extension of our efforts to empower advisors with the information, opportunities and operational efficiencies they need to communicate and compete."
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About Gold Bullion International:
Gold Bullion International LLC (GBI) is a leading institutional precious metals provider to individual investors and the wealth management industry. GBI's technology and operations platform allows investors to acquire and manage their physical precious metals assets directly through GBI or through their existing wealth management account relationships. Precious metals are acquired through a competitive institutional dealer network, stored on behalf of investors in protected and insured vaults in New York, Salt Lake City, London, Zurich, Melbourne and Singapore, and audited by one of the big four. GBI provides the easiest, safest and most reliable option for precious metals ownership. GBI, own what's real.
Envestnet, Inc. is a leading provider of unified wealth management technology and services to investment advisors. Our open-architecture platforms unify and simplify the wealth management process, delivering unparalleled flexibility, accuracy, performance and value. Envestnet solutions enable the transformation of wealth management into a transparent, fully-aligned, objective and independent standard of care, and empower advisors to deliver better results.
Envestnet's Advisor Suite® software empowers financial advisors to better manage client outcomes and strengthen their practice. 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.
Envestnet also provides institutional-quality research and due diligence on investment and fund managers via its Prima research and provides an in-depth view of consolidated holdings across multiple custodians through Vantage Performance Reporting. For more information on Envestnet, please visit www.envestnet.com.
SOURCE Gold Bullion International (GBI)