As we collectively deal with a global pandemic and historic market volatility, our team continues to operate with a focus on delivering the same high level of service that you’ve come to expect. We know that you need our support in navigating this crisis, and we are here for you.

Below is a Q&A with Andrew Stavaridis, Executive Managing Director, Head of Enterprise Sales Channel, detailing how Envestnet is handling the impact of the coronavirus and how our team is adapting to support advisors and home offices during this unprecedented time.

How is the Envestnet team currently operating?

Our employees around the world are working from home, handling service requests, managing day-to-day operations, and enhancing our technology. Our business continuity planning has made this transition successful, and we are fully operational. All our employees have virtual capabilities, including team collaboration, online conferencing tools, and secure VPN access.

Advisors and home offices are in need of support, perhaps more than ever before. Is Envestnet prepared to handle an influx of calls?

In short, the answer is yes. We have a strategic plan to ensure that our call center and field training staff are prepared to answer all incoming calls. We have increased the number of individuals focused on monitoring our system performance and processing trades. Our current team is handling the volume, and we have the ability and capacity to flex our teams and add support individuals to help ensure everyone’s needs are being met. We are committed to providing a consistent, stable experience for you.

What support do you have in place for advisors and home offices who require training on tools within the platform that they may be leveraging for the first time?

We understand that this is a new market environment. Advisors and home offices may need help understanding the full capability and functionality of their current suite of tools or tools that they may be leveraging for the first time. We will be continuously delivering resources to help meet this need, including on-demand video trainings, live webinars, and more.

Investors are understandably worried about the markets and their own financial futures. With things changing at such a rapid pace, how can advisors and home offices leverage Envestnet resources to stay informed and educate clients?

We offer a range of resources for this purpose, enabling advisors and home offices to leverage the materials that make the most sense for their businesses and preferences:

  • We’re hosting a series of live webinars focused on market volatility and related practice management topics. View the calendar and register to hear insights from Envestnet subject matter experts and other thought leaders from across the industry.
  • Envestnet Institute is our robust online resource center that features regularly updated content from best-in-class asset managers. Create a free account to receive email notifications when new content is published in your target categories and to receive a weekly update on new resources that are available.
  • Subscribe to our blog posts for our perspective on the financial services industry and information about our platform and solutions.
  • Follow us on our social media channels for news and other updates: LinkedIn, Twitter, Facebook, Instagram, and Vimeo.

What tools are available within Envestnet’s financial wellness network to help advisors and home offices navigate turbulent markets?

Especially during market uncertainty, we remain focused on our mission of making financial wellness a reality for all individuals and families. We encourage you to consider implementing some of the following tools and technologies within the platform to better demonstrate your value, address your clients’ needs, and focus on the aspects of their portfolios that are within control:

Risk management and stress testing:
  • Envestnet | MoneyGuide features a holistic stress testing capability that can show how client portfolios may have performed during historical events and help inform potential investment and cash-flow considerations.
  • BlackRock’s Advisor Center technology, integrated into the Envestnet platform, offers a suite of simple-to-use tools, such as the Scenario Tester and 360 Evaluator, that make it easier for you to understand your clients’ portfolio risks and provide them with more confident guidance. Scenario Tester can help you address market and portfolio “what ifs” with clients. 360 Evaluator helps you analyze portfolios from multiple angles — performance, risk and cost — with insights tailored to each portfolio.
  • Leverage tools across the platform to help execute trades quickly and accurately.
Client collaboration:
  • Now is a critical time to proactively communicate with clients to help calm investor fears and reassure them of your value and guidance. Our cloud-based tools, like our client portal, enable advisors to stay in constant communication with their clients and meet with them virtually to review and discuss their portfolio needs.
  • Envestnet | MoneyGuide’s Play Zone® allows you to test variables, offering a collaborative way to help clients adjust what’s in their control.
Portfolio services:
  • Envestnet | PMC’s tax overlay services can help reduce tax exposure, eliminate short-term capital gains, and optimize risk to improve a clients’ after-tax returns and help realize losses related to market conditions.
  • Envestnet’s powerful analytic tools and robust reporting can help you and your clients understand their portfolios and investments.

We are here for you during this time of uncertainty, helping you maintain and grow your business now – and in the future. Please continue to reach out to your Envestnet service and support teams as needed.

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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