CHICAGO, April 27, 2016 /PRNewswire/ -- The Money Management Institute (MMI) has bestowed its 2016 Industry Leadership Award for Advisory Solutions Provider of the Year—Outsourced Investment Advisory Services upon Envestnet, Inc. (NYSE: ENV). The award honors the technology or service provider whose outsourced investment advisory services offerings best exemplify overall excellence and the qualities most valued by managers, program sponsors, and financial advisors.
"We consistently look to expand our menu of investment solutions so that we can support our client firms and advisors across all practice management models," said Jud Bergman, Chairman and CEO of Envestnet. "We are honored that the Money Management Institute has recognized the extensive flexibility and selection of our comprehensive, end-to-end wealth management platform, and we will continue to add options for advisors of all practice sizes and structures."
Envestnet's award was presented during MMI's annual Gateway to Leadership Industry Recognition Dinner in Washington, DC on April 20, 2016. MMI members submitted nominations for the 2016 Industry Leadership Awards, and a special committee representing all segments of MMI's membership selected the finalists. The winners were determined by a vote of MMI member firms.
Envestnet provides access to over 16,000 investment vehicles, more than 3,800 of which are vetted and approved by its in-house Portfolio Management Consulting group, Envestnet | PMC. Advisors can choose from approximately 1,300 separately managed account (SMA) strategies available from a roster that includes 95 of the 100 largest SMA managers. In addition, advisors can select from over 1,200 mutual fund/exchange-traded fund strategist portfolios available from 86 firms across strategic, dynamic, and tactical investment styles. The Envestnet unified managed account (UMA) program offers 870 SMA models and features an advisor-managed sleeve.
Envestnet created the industry's first approved list of fund strategist portfolios in 2013, and has a team of analysts dedicated to conducting due diligence on fund strategist portfolios. Envestnet's three portals are designed to help advisors, enterprises, and asset managers maximize the benefits they receive from the Envestnet platform. The Envestnet advisor portal enables platform users to analyze account performance and deliver wealth management services such as goals-based financial planning, trading, rebalancing, and reporting—providing advisors with full visibility into their clients' accounts and a broad spectrum of account-servicing tools through a single login.
"We are proud that our platform has grown and evolved to the point where we can meet the needs of advisors, whatever they are—whether they require a fully outsourced solution encompassing portfolio construction advice, asset allocation advice, and capital market assumptions, or just one element of the equation," said Bill Crager, President of Envestnet. "Our goal is to offer streamlined access to as many investment products, strategies, and managers as possible to give independent advisors the competitive edge they need to improve client outcomes, and this objective continues to motivate and guide us."
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.
Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. More than 950 companies, including 12 of the 20 largest U.S. banks and hundreds of Internet services companies, subscribe to the Envestnet | Yodlee platform to power personalized financial apps and services for millions of consumers. Envestnet | Yodlee solutions help transform the speed and delivery of financial innovation, improve digital customer experiences, and drive better outcomes for our clients and their customers.
SOURCE Envestnet, Inc.