Envestnet Introduces Initiative To Help Advisors Incorporate Endowment And Foundation Assets In Their Practice Growth Plans

Second Day of 2013 Envestnet Advisor Summit Also Featured Sessions with Milton Ezrati and Julie Littlechild to Empower Advisors with A New Perspective on Wealth Management

May 02, 2013, 21:10 ET from Envestnet, Inc.

CHICAGO, May 2, 2013 /PRNewswire/ -- Envestnet Inc. (NYSE: ENV), a leading provider of unified wealth management technology and services to investment advisors, made the first public presentation of its new initiative aimed at helping advisors capitalize on the underserved endowment and foundation market at "The 2013 Envestnet Advisor Summit: A New Perspective," which just completed its second day at the Hyatt Regency in Chicago.

According to the Internal Revenue Service there are currently $5.7 trillion in assets held by nonprofits including more than 1 million endowments and foundations with assets totaling $3.5 trillion. By tapping into this enormous yet largely underserved market, advisors can build on their current fee-based, high-net-worth practice while presenting endowments and foundations with the chance to get more value for their investment consulting dollars. This market also presents an opportunity for advisors to expand existing client relationships and potentially realize new revenue streams to accelerate their practice growth.

"There is no doubt that serving endowments and foundations represents a good growth strategy for advisors, because in many ways it is an extension of what they are already doing for their high-net-worth clients," explained James Lumberg, Co-Founder, Managing Director, Envestnet. "Through this initiative they can harness the extensive resources of Envestnet and our strategic partners to deliver a much broader value proposition into this underserved market in a way that positions them very competitively relative to traditional investment consultants."

Traditional consultants to endowments and foundations tend to focus on investment selection and management but leave unresolved the many other issues that these nonprofits face. Advisors using the Envestnet solution will be able to help resolve fiduciary and governance issues as well as the quotidian tasks of portfolio administration and rebalancing, daily reconciliation and valuation, treasury activities, and reporting. 

Along with the presentation on using endowments and foundations to help fuel practice growth, highlights of the Summit's second day included an address by noted economist and market strategist Milton Ezrati of Lord Abbett and a session on ways to engage existing clients and attract new ones beyond traditional referrals from practice management expert Julie Littlechild, founder and president of Advisor Impact.

Day Two of the 2013 Advisor Summit also offered a wide range of educational sessions covering investment and practice management topics such as portfolio construction and rebalancing, using liquid alternatives, and the risks and benefits to advisors of using social media. In addition to these general interest subjects advisors also gathered in small groups to learn about enhancements to the Envestnet platform, the robust analytical capabilities of Envestnet|PMC, and the sophisticated portfolio rebalancing capabilities of Envestnet|Tamarac.

The 2013 Envestnet Advisor Summit continues through May 3, when the highlights will include a presentation from Sallie Krawcheck, past president of Merrill Lynch, on the future of wealth management.

For more information about Envestnet, please contact Jami Schlicher at 973-850-7309 or jschlicher@jcprinc.com.

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 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.

For more information on Envestnet, please visit www.envestnet.com.  

Media                                                                         Jami Schlicher, JCPR                                                  Jennifer Connelly Public Relations (973) 850-7309                                                                        jschlicher@jcprinc.com


SOURCE Envestnet, Inc.