CHICAGO, Nov. 20, 2014 /PRNewswire/ -- Envestnet | Retirement Solutions (ERS), a majority owned subsidiary of Envestnet, Inc. (NYSE: ENV), and a leading provider of unified retirement technology and services to advisors, has entered into a partnership with Alerus Retirement Solutions, a division of Alerus Financial, N.A. ("Alerus") to offer ERS's advisor platform and fiduciary services to advisors and sponsors that work with Alerus.
Alerus is a one-source provider of qualified retirement plan services. The addition of ERS's comprehensive fiduciary services offering reaffirms Alerus's ongoing commitment to helping retirement plan-focused financial advisors access an extensive suite of solutions.
Changing market dynamics and evolving regulation around the role and definition of a fiduciary has led many plan sponsors to seek outside help from qualified professionals to ensure they are meeting their statutory and ethical obligations. ERS uses both qualitative and quantitative criteria, as well as its proprietary SCORE methodology, to examine the financial product universe and ultimately provide a workable subset of investments allowing participants to construct well-diversified portfolios.
"ERS's unique combination of the end-to-end advisor platform and its fiduciary services made it a natural choice for us to deliver value to our advisors," said Brian Overby, President of Alerus Retirement Solutions.
"Alerus is an innovator in the retirement space, and we believe our advisor platform and fiduciary services are a strong complement to Alerus's retirement plan offerings," said Babu Sivadasan, Group President, ERS. "Outsourcing the investment selection and monitoring duties doesn't just give plan sponsors more time to work on their businesses—it also gives advisors more time to work with their plan sponsor clients."
Envestnet Retirement Solutions delivers innovative fiduciary services to the retirement plan marketplace. Powered by technology, institutional-caliber research, and an experienced staff of investment professionals, ERS helps enhance the plan sponsor/plan advisor relationship with fiduciary support and regular, dependable investment monitoring.
ABOUT ENVESTNET | RETIREMENT SOLUTIONS
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 | Retirement Solutions (ERS), a subsidiary of Envestnet, Inc., provides retirement advisors with an integrated platform that combines one of the industry's leading practice management technology, research and due diligence, data aggregation, compliance tools, and intelligent managed account solutions. ERS leverages Envestnet's advanced capabilities and resources, along with its experience in investment research, portfolio construction, and investment management, to meet the specialized needs of each retirement plan stakeholder, from plan participants to sponsors, advisors to home offices, and record keepers to DCIOs.
For more information on Envestnet | Retirement Solutions, please visit www.envestnet.com.
ABOUT ALERUS RETIREMENT SOLUTIONS
Alerus Retirement Solutions (ARS) is one of the nation's leading providers of open-architecture recordkeeping services. ARS provides trustee/custodial services, IRS-approved plan documents, plan design, full plan administration, compliance testing, and customized model portfolios. Our high level of service, sophisticated technology, and competitive pricing provide value to retirement plans of all sizes. Based in Arden Hills, MN, ARS has been providing retirement plan services for over 70 years. We currently serve over 4,800 clients with plan assets totaling over $17 billion.
SOURCE Envestnet | Retirement Solutions