Envestnet Partners with Business Logic to Offer Managed Accounts in DC Market
CHICAGO, IL, September 17, 2007 -- Envestnet Asset Management, the leading independent provider of wealth management solutions and supporting technology for financial services firms, today announced a strategic partnership with Business Logic Corporation, a leading financial software provider, aimed at offering the first unified retirement solution for retirement plan providers, financial advisors and sponsors.
The joint effort addresses the scalable, automated requirements of the defined-contribution market as well as personalized retirement planning services provided by advisors. By integrating this new automated managed accounts solution with the existing advisor platform, Envestnet can now offer plan providers, sponsors and advisors with a solution available designed to serve the broad range of investors who have defined-contribution plans.
"Envestnet is committed to providing best-of-breed managed account platforms to all aspects of the wealth management market, including the defined contribution space," said Judson Berman, CEO of Envestnet Asset Management. "This alliance provides us with the technology and additional industry expertise necessary to automate our advisory services."
The Envestnet Unified Retirement Platform offers plan providers with both onsite and ASP access. Features include:
- Complete turnkey managed accounts for defined contribution plans using existing plan investment options that include both accumulation and spend down phases;
- Tools that broaden planning capabilities for defined contribution participants;
- Advisor tools that generate proposals, execute investment transactions and monitor performance;
- The ability to attract outside assets and build retention plans for retirees;
- Holistic participant financial plans that consider advice methodology, outside assets and other personal data;
- For non-defined contribution assets, the Envestnet advisor platform can also be customized with investment options offered by the provider and its advisors, as well as the complete Envestnet investment network. This includes more than 350 top-tier money managers that are diversified across asset class and style; and
- Options to create alliances with outside financial advisors who can manage participant assets.
"We are focused on improving retirement security," said Dirk Quayle, President of Business Logic Corporation. "Teaming with Envestnet, we can offer plan providers a solution that extends beyond advice and managed accounts for plan assets and includes holistic management of non-plan assets through rollover and the retirement income phase."
The Envestnet Unified Retirement Platform is committed to providing world-class advisory methodology. Envestnet has created an Investment Advisory Board specifically focused on evolving and improving the methodology over time. The Board will combine executives from Envestnet and Business Logic, along with outside business and academic experts including Michael Henkel, formerly President of Ibbotson Associates.
About Envestnet
With over $38 billion in assets under management and administration for more than 400,000 investor accounts, Envestnet Asset Management is the largest independent investment platform for fee-based advisors. The company delivers separately managed accounts, multi-manager accounts, mutual funds, ETFs, stock baskets, and alternative investments as well as other fee-based investment solutions to independent financial advisors through a unified Web-based platform. Envestnet’s investment offerings are supported by a proprietary technology platform that delivers customized Web sites and comprehensive reporting capabilities to investment advisory firms across the country. Envestnet Asset Management is headquartered in Chicago with offices in Denver, Los Angeles, New York, Silicon Valley and Trivandrum, India. For more information, please visit www.envestnet.com.
About Business Logic
Business Logic software solutions help investors understand, organize, and manage their investments. The world's largest Financial institutions deploy Business Logic solutions to help identify their customers' investment management needs, and to implement investment management strategies that are personalized for each client. Business Logic has been developing and implementing enterprise software solutions for the world's largest financial institutions since 1996. For more information, please visit www.businesslogic.com.
###
Click here for more material dealing with current trends, opinion, news, legislative action, investments, marketing, sales, consulting, and legal issues on 401k plans.
This is a press release provided by the company or its representatives. 401khelpcenter.com, LLC is not the author of this release and is not associated or affiliated with any firm or organization mentioned unless otherwise noted. Use of any information obtained from this release is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by 401khelpcenter.com, LLC.
