Our latest technology release went live on August 24th and serves as a clear reflection of the new world we’re living in as we navigate the COVID-19 pandemic. We took action to ensure that our Strategic Roadmap aligns with the changes we see taking shape and that our development teams are focused on helping you build a more sustainable practice to deliver the support your clients need to work towards financial wellness.

In addition to other enhancements, we made three notable changes to help you better engage your clients moving forward.

1. Increased Personalization With PMC Private Wealth Consulting

Now more than ever, your clients want you to help them cut through the noise with timely, relevant, and consistent advice. Your ability to empathize with their situations and provide personalized advice will be a real driver of value. Our new PMC Private Wealth Consulting service will give you the ability to send an active proposal to PMC for a custom portfolio design with full ongoing portfolio management support. As a result, Portfolio Managers are empowered to provide more personalization than ever before. We’re currently laying the foundation for this service to go live in our next release and testing it with pilot firms and users.

2. More Robust and Seamless Financial Planning With Additional BlackRock Technology

We’ve completed the integration of BlackRock’s iRetire and Advisor Center, and now we’re working on integrating BlackRock’s tax services and trading technology. This will enable you to better assist with tax transitions and overlay analysis to offer more informed recommendations. As the impact of the pandemic leads to an increased focus on financial planning and a desire to be prepared for what lies ahead, you can leverage these technologies to jumpstart conversations about preparedness, put financial concerns into perspective, and give your clients more confidence in your recommendations.

3. Fuse Health and Wealth With Conversations Around Insurance

COVID-19 has opened up client anxieties about their health and the future. We’ve made key updates to the Envestnet Insurance Exchange to create workflows to make it easier to incorporate protection into planning meetings in more ways. Further, we’ve increased the options for doing annuity business to enable you to more easily talk to your clients about protecting their assets, income, and loved ones while planning for the future.

What Else Can You Expect?

Additional updates include:

  • Proposal workflow enhancements to improve usability and process flow.
  • Increased market index and benchmark selection usability to enable you to spend less time combing through menus and more time working with your clients.
  • Improved research center tools to improve usability in terms of how peer group calculations are performed.
  • Enhanced index performance reporting to help provide context and set expectations with clients during performance review conversations.

For more detailed information about this release, please review our Advisor and Strategic Updates. Depending on your use of the Envestnet platform, additional changes that occurred during the release may not be found within these documents. Contact your Envestnet Enterprise or Regional Consultant for more information.

Learn more about these and other updates we’re working on by connecting with us on Twitter and LinkedIn.

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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