Envestnet Custom Model Solutions Gives RIAs a White-Labeled Path to Outsourced Model Management

Program Pairs Asset Manager-Built Models with Outsourced Trading, Billing, and Reporting  
With Managers Potentially Covering Platform Fees and Tax-Overlay Fees Waived in Select Programs for RIAs

BlackRock, Envestnet PMC, Fidelity Investments, First Trust, Franklin Templeton, Goldman Sachs Asset Management, Invesco, Northern Trust Asset Management, Russell Investments & T. Rowe Price Participating in Envestnet's Model Programs

BERWYN, Pa., Oct. 27, 2026 /PRNewswire/ -- Envestnet, the leading Adaptive WealthTech company, announced its Custom Model Solutions (CMS) for RIAs and Institutional Partner Models (IPM) for broker-dealers. Asset managers participating across Envestnet's Custom Model Solutions and Institutional Partner Models programs, include BlackRock, Envestnet PMC, Fidelity Investments, First Trust, Franklin Templeton, Goldman Sachs Asset Management, Invesco, Northern Trust Asset Management, Russell Investments, and T. Rowe Price. Trading, billing, and reporting for the programs will be handled by Envestnet. Managers may cover all or part of the platform fee and, depending on the program, there may also be no tax-overlay fee to the RIA.

Custom Model Solutions is designed for advisory firms that want to differentiate their practice with tailored model portfolios that combine their firms' brand and investment preferences with third-party investment management capabilities without adding operational overhead. Under the program guidelines, an asset manager constructs and maintains a model strategy to the advisor's investment parameters; the advisor reviews and approves the model for use with client accounts, with the ability to collaborate with the asset manager to refine as needed; and Envestnet executes trades according to the advisor's direction. Firms can also incorporate Envestnet's Fund Strategist Tax Management (FSTM) tax overlay services, where appropriate, so the RIA receives the differentiated model and a tax-managed way to run it without having to build that capability themselves.

Envestnet is extending a similar offering to broker-dealers, called Institutional Partner Models. It can be entitled to select financial professionals within a broker-dealer firm through a streamlined implementation and requires its own Envestnet committee review and legal contracting for each engagement.

"Many RIAs don't want someone else making investment decisions for their clients. They want better tools to scale what makes them unique," said Sean Meighan, Head of RIA Distribution for Envestnet. "Custom Model Solutions lets advisors maintain ownership of their investment preferences while outsourcing the operational work that doesn't differentiate their business. They stay in control of the client relationship and, working alongside asset managers, direct the investment strategy. We help them scale both."

Key benefits of Envestnet Custom Model Solutions include:

• Your firm's investment preferences, professionally managed: Asset managers work to build bespoke model strategies that combine the advisory firm's own investment preferences and brand with third-party investment management capabilities.
• CIO Collaboration: Advisors can work with asset managers to select, customize, and implement models for client accounts, incorporating their own ideas, preferences, and client needs.
• Outsource the operational work: Envestnet handles trading, billing, and reporting, freeing advisors from day-to-day model administration.
• Designed to scale: Advisors can grow assets without spending on additional operational infrastructure and free up time to focus on more complex client needs.
• Easy adoption: Participating asset managers cover all or part of the platform costs, enabling easy adoption.

"Advisors increasingly are looking for ways to expand access across public and private markets at scale, without adding complexity," said Jon Diorio, Head of Americas Product for BlackRock. "Together with Envestnet, we're helping advisors free up capacity and grow their practices. That's increasingly important as they navigate powerful structural forces; including rapid wealth creation, rising wealth concentration, greater client complexity and higher expectations for outcome-oriented advice."

"Advisors are looking for ways to deliver a differentiated investment experience without increasing operational complexity," said Amanda Robinson, head of Wealth Advisory Managed Solutions Distribution at Fidelity Investments. "We are excited to work with Envestnet to offer firms a new, scalable way to access Fidelity's professionally managed model portfolios and help them meet their clients' growing needs."

"Today's advisors need the flexibility to build portfolios around their own investment convictions, with access to specialized expertise that can help bring those ideas to life," said Brett Mossman, Head of U.S. Product at Franklin Templeton. "Franklin Templeton's global platform brings together distinct investment teams and perspectives across asset classes and geographies, empowering advisors with a broad set of capabilities to draw from as client needs become more complex. Working with Envestnet allows us to put more of that expertise within reach of advisory firms looking to deliver a truly differentiated investment experience."

"Across our businesses, we work with leading, growth-oriented RIAs to deliver solutions that can help strengthen their businesses and deliver better outcomes to clients," said Greg Wilson, Co-Head of the Americas Third Party Wealth business at Goldman Sachs Asset Management. "Custom models are among the most in-demand solutions for many of our RIA clients, and we are excited to work with Envestnet to help deliver more tailored investment portfolios at scale."

"Advisors want portfolios that reflect each client's goals, values and tax situation, without sacrificing the efficiency of a model-based approach," said Suzanne Casey, Head of the Wealth Client Group at Northern Trust Asset Management. "For decades, we've helped sophisticated investors customize portfolios with a focus on after-tax outcomes. Working with Envestnet, we can bring that institutional-quality portfolio construction to more advisory firms, helping them personalize at scale and deliver differentiated results for their clients."

"Advisors shouldn't have to choose between the efficiency of models and the flexibility to meet each client's needs," said Emily Steinbarth, Co-Head of North America Advisor & Intermediary Solutions at Russell Investments. "Through our open-architecture approach, advisors can build portfolios around their own investment views and client priorities, while Envestnet's platform helps simplify implementation and provide operational management. This partnership with Envestnet can make personalization more accessible—especially for advisors who have felt that traditional models were too standardized for the way they serve clients."

"We believe the most effective custom models bring together an advisor's understanding of their clients with the investment capabilities and portfolio construction expertise of an experienced asset manager," said Kevin Collins, Head of U.S. Intermediaries at T. Rowe Price. "Together with Envestnet, we can help advisors build differentiated portfolios across active and passive strategies and alternatives, tailored to their investment views and the evolving needs of their clients."

Envestnet's Proposal Desk provides dedicated support for onboarding and conversion engagements for Custom Model Solutions. Firms can choose between RIA discretion, where the advisor approves model changes before they go live, or Envestnet discretion, where Envestnet implements changes directly on the firm's behalf.

"We built Custom Model Solutions to keep control in the hands of advisors while giving them the infrastructure to scale," said Dana D'Auria, Executive Vice President, Wealth Solutions and Chief Investment Officer of Envestnet. "By standardizing the program and waiving certain fees, we're making it easier than ever for asset managers and advisors to work together, and for RIAs to bring a differentiated offering to their clients."

To learn more, financial professionals and asset managers can contact their respective Envestnet relationship managers.

About Envestnet
Envestnet is the leading Adaptive WealthTech company that helps advisors meet the moment with its comprehensive technology, insights, and industry-leading support. This empowers advisors to make smart decisions throughout every step of a client's financial life. Backed by 25 years of experience and $8.0 trillion in platform assets, Envestnet is trusted by over a third of all financial advisors across many leading banks, wealth managers, brokerages, and RIAs.

For a deeper dive into how Envestnet is shaping the future of financial advice, visit www.envestnet.com. Stay connected with us for the latest updates and insights on LinkedIn and X (Envestnet_).

Envestnet refers to the family of operating subsidiaries of the holding company, Envestnet, Inc.

About BlackRock
BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | X: @BlackRock | LinkedIn: www.linkedin.com/company/blackrock.

Fidelity Investments^® is an independent company, unaffiliated with Envestnet. Fidelity Investments is a service provider to Envestnet. There is no form of legal partnership, agency affiliation, or similar relationship between Envestnet and Fidelity Investments, nor is such a relationship created or implied by the information herein. Fidelity Investments is a registered trademark of FMR LLC. Fidelity Investments^® provides investment products through Fidelity Distributors Company LLC; clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC; and institutional advisory services through Fidelity Institutional Wealth Adviser LLC. 1275342.1.0

About First Trust
First Trust Advisors L.P. ("First Trust") is a federally registered investment advisor and serves as the fund's investment advisor. First Trust and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately held companies that provide a variety of investment services. First Trust has collective assets under management or supervision of approximately $378 billion as of August 31, 2026, through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. First Trust is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. First Trust and FTP are based in Wheaton, Illinois. For more information, visit www.ftportfolios.com.

About Franklin Templeton
Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients' strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity. With over $1.79 trillion in assets under management as of September 30, 2026, Franklin Templeton operates globally in more than 30 countries.

To learn more, visit franklintempleton.com and follow us on LinkedIn.

About Goldman Sachs Asset Management
Goldman Sachs Asset Management is the primary investing area within Goldman Sachs, delivering investment and advisory services across public and private markets for the world's leading institutions, financial advisors, and individuals. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. Goldman Sachs Asset Management is a leading investor across fixed income, liquidity, equity, alternatives, and multi-asset solutions. Goldman Sachs oversees approximately $4.1 trillion in assets under supervision as of September 30, 2026. Follow us on LinkedIn.

Assets Under Supervision (AUS) includes assets under management and other client assets for which Goldman Sachs does not have full discretion.

About Northern Trust Asset Management
Northern Trust Asset Management is a global investment manager that helps investors navigate changing market environments in efforts to realize their long-term objectives. Entrusted with US$1.6 trillion in assets under management as of June 30, 2026, we understand that investing ultimately serves a greater purpose and believe investors should be compensated for the risks they take — in all market environments and any investment strategy. That's why we combine robust capital markets research, expert portfolio construction and comprehensive risk management to craft innovative and efficient solutions that seek to deliver targeted investment outcomes. As engaged contributors to our communities, we consider it a great privilege to serve our investors and our communities with integrity, respect and transparency.

Northern Trust Asset Management is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Fund Managers (Ireland) Limited, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc., 50 South Capital Advisors, LLC, Northern Trust Asset Management Australia Pty Ltd, and investment personnel of The Northern Trust Company, The Northern Trust Company (Singapore Branch), and The Northern Trust Company of Hong Kong Limited.

About Russell Investments
Russell Investments is a leading global investment solutions partner providing a wide range of investment capabilities to institutional investors, financial intermediaries and individual investors around the world. Since 1936, Russell Investments has been building a legacy of continuous innovation to deliver exceptional value to clients, working every day to improve people's financial security. The firm has $433 billion in assets under management as of 09/30/2026 for clients in 31 countries. Headquartered in Seattle, Washington, Russell Investments has offices in 17 cities around the world. 

About T. Rowe Price
T. Rowe Price is a leading global asset management firm, entrusted with managing $1.90 trillion in client assets as of August 31, 2026, about two-thirds of which are retirement-related. Renowned for nearly 90 years of investment excellence, retirement leadership, and independent proprietary research, the firm leverages its longstanding expertise to ask better questions that can drive better investment decisions. Built on a culture of integrity and prioritizing client interests, T. Rowe Price empowers millions of investors worldwide to thrive amid evolving markets.

Visit troweprice.com/newsroom for news and public policy commentary.

SOURCE Envestnet