At Envestnet, we work with advisors every day, seeking to make you more efficient and effective so that you can better serve your clients and thrive in your professions. We primarily achieve this through our open-architecture platform, providing streamlined access to robust software solutions.

The work we do benefits advisors now – supporting you in how you manage and grow your business and intelligently engage your clients – while also seeking to address the needs and concerns most likely to face advisors in the future. In doing so, we’ve become passionate about fueling the continued growth and success of the financial services industry, which includes empowering young people to join the field.

We discovered that higher education institutions are generally challenged to keep up with the rapid changes the industry experiences, that students are unaware of how the industry works and the career paths available to them, and that employers want a cost-effective solution to locate diverse entry-level talent. Addressing these related issues would significantly impact the industry from end to end.  

As a result, we developed Envestnet Institute On Campus (EIOC), a program built on an e-learning platform that benefits academic institutions, students, financial institutions and advisors, and the industry as a whole. Since 2015, we’ve had more than 2,000 students complete the program and more than 60 percent have gone on to enter the industry.

Envestnet Institute On Campus

After graduating and joining a wealth management or asset firm, many recent graduates experience a steep learning curve as they come up to speed on the vast range of products and solutions that are available and the common language used to talk to peers and clients – something not covered in a typical college course. You have probably experienced this yourself, either early on in your career or when young advisors join your team.

EIOC is a program designed to bridge the gap between academic curriculum and the real-life application of these teachings in the financial industry. The program, which launched in the spring of 2015, features seven self-paced, e-learning classes. Each class is approximately one hour and is followed by a required test. Optional learning modules and webcasts are available in addition to the required course content. The syllabus includes classes such as:

  • An introduction to the investment advisory industry, introducing concepts, terms, and definitions, as well as popular investment vehicles
  • The basics of investing, examining the development of an investment strategy
  • The evolution of the managed solutions industry, reviewing each managed investment solution in depth
  • The sales process and client interviews, presenting best practices for building client relationships and creating investment policy statements
  • Baby boomer investing, focusing solely on how to prepare this generation for the stages of retirement
  • Technology to service and support managed solutions, examining the tools and/or systems available to enable prospecting, client profiling, and relationship management
  • The unified managed household, exploring the technologies available to keep up with the demand for comprehensive, holistic financial advice

EIOC is provided at no cost to colleges and universities and students who choose to participate, and for that, we can thank the generosity of our sponsors, which currently includes Fiserv, Jackson National Life Insurance Company, and Fidelity Investments®. Our sponsors are committed to helping support this initiative and to preparing the next generation of advisors to join the industry.

Currently, nearly 40 colleges and universities nationwide offer the program, which is open to students of all majors as an opt-in program or as part of regular, required coursework.

EIOC also includes a specific initiative, Women in Wealth Management, that aims to drive female participation and address their underrepresentation in the industry. The initiative is led by successful female leaders in the industry, with the mission of creating awareness of career opportunities, providing education related to key industry topics, and providing mentorship to help empower these women and help them achieve their goals.      

All students who participate in the EIOC program are better equipped for a career in the financial services industry and are generally more employable and more aware of the job opportunities available to them. They are then prepared to make an immediate impact once they are hired. Employers benefit from workforce-ready students, who ultimately reduce onboarding costs.

Our fall 2019 program will launch soon, starting with a kickoff webinar, where the expected 400+ participants can learn more about the program and hear from past participants.

Connecting Graduates and Employers

To help students with the job-search process and enable employers to find talented, pre-vetted candidates, we have a Resume and Internship Hub, powered by DAK Associates’ DAKdirect tool. The Hub is only available to students who have successfully completed the program and employers seeking interns or full-time employees.

DAK takes the burden off the employer of having to interface with each student interested in a possible position. Since DAK represents the asset and wealth management industry, they have a distinctive handle on the types of jobs and requirements for new hires. They can also be involved in resolving student relocation issues, background checks, as well as salary consultation, if needed.

If you’re seeking an entry-level candidate, we encourage you to learn more about the Envestnet Institute On Campus program and visit our Resume Hub and how it can benefit you and your organization. Contact us for more information or with any questions.

Fidelity Investments is an independent company, unaffiliated with Envestnet Institute On Campus. Fidelity Investments is a sponsor of Envestnet Institute On Campus.

There is no form of legal partnership, agency affiliation, or similar relationship between Envestnet Institute On Campus and Fidelity Investments, nor is such a relationship created or implied by the information herein.

Fidelity Investments has not been involved with the preparation of the content supplied by Envestnet Institute On Campus and does not guarantee, or assume any responsibility for, its content.

Fidelity Investments is a registered trademark of FMR LLC. Third parties referenced herein are independent companies and are not affiliated with Fidelity Investments. Listing them does not suggest a recommendation or endorsement by Fidelity Investments.

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Fidelity InstitutionalSM (FI) 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; institutional advisory services provided by Fidelity Institutional Wealth Adviser LLC.

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The information, analysis and opinions expressed herein are for informational purposes only and do not necessarily reflect the views of Envestnet.  These views reflect the judgment of the author as of the date of writing and are subject to change at any time without notice.  Nothing contained in this piece is intended to constitute legal, tax, accounting, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type.

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