Envestnet introduces new pension plan options for consultants: Tech Roundup


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Envestnet has partnered with Vestwell to provide financial advisors with turnkey retirement solutions.

Vestwell is a digital recording platform that specializes in 401 (k) and 403 (b) plans. With the new collaboration, consultants using Vestwell’s platform can now access Envestnet’s 3 (38) investment management services through Envestnet Retirement Solutions to provide a turnkey solution for clients.

In the future, “the relationship will be expanded to include further Envestnet offers in order to bring consultants closer to their customers and to further differentiate them through stronger adjustments,” the companies said in a joint announcement on Wednesday.

Together, the vendors will “make it easier for consultants to scale effectively while focusing their attention on attendance and outcomes for 401 (k) plan vendor customers versus deployment and implementation,” the companies say.

Advyzon adds Prospect Portal, Mobile App

Advyzon has expanded its digital toolbox to include a prospect portal and a mobile app for Android and Apple iOS mobile devices.

The new tools are free of charge for Advyzon users and are available immediately. The company noted that they “come at an opportune time for RIAs, many of whom have recently switched to a 100% virtual business model due to COVID-19 lockdowns and related restrictions.”

The company’s software platform, which it claims is used by hundreds of RIAs in North America, includes cloud-based reporting, billing, customer relationship management, and document management capabilities.

Last year, Advyzon began developing a potential portal that would make it faster and easier for RIAs to connect with and attract new customers, Tuesday stressed.

“The idea was to give potential clients the ability to manage themselves when it comes to sharing personal information and documents with potential advisors so that advisors can focus on helping clients achieve their investment goals,” she explains.

Anacapa Financial, based in Ventura, California, was one of the first RIAs to test the new prospect portal, Advyzon said.

The portal helps us “bring new customers into the mix faster than ever,” said Jack Green, CEO of Anacapa, in a statement. “We literally set up 10-15 meetings over the next few weeks because the process of getting prospects into our sales funnel and opening accounts digitally is so much easier because of the portal.”

Seven Group starts campaign function

Seven Group has introduced a new campaign feature that allows consultants to deliver customizable, ready-to-use email campaigns directly from the platform.

This is the “official rollout of the feature,” said Alex Cavalieri, co-founder of Seven Group, on Wednesday. “We tested it with a small group before the official rollout and worked out another aspect that took a few months,” he noted.

Cavalieri told ThinkAdvisor about the feature in August.

Consultants now have the ability to “upload and manage multiple lists,” he said. “It used to be two lists,” now consultants can “segment their lists and upload five,” he said. Advisors can also now “simply download all of the content to ensure compliance – pre-made documents ready to be submitted,” he added, adding that they can now include their own custom links in each email as well.

LaSalle St. launches growth acceleration platform

LaSalle St. has launched a growth acceleration platform for financial institution-based wealth management programs.

The new platform is designed to “help financial institutions expand and leverage their wealth and investment management capabilities to the full, in order to expand those businesses and support each institution’s overall strategic goals,” said the family of wealth management companies who are independent brokers includes. Dealer and RIA platforms said on Wednesday.

The growth acceleration platform offers banks, credit unions and their financial advisors the following functions:

  • Comprehensive training and onboarding support to educate new finance professionals about LaSalle St.’s services.
  • Ongoing support from LaSalle St. in all aspects of practice management and business development.
  • On-demand support to institutional management teams in structuring remuneration and incentives for consultants.
  • Assistance and guidance for institutions wishing to introduce asset management functions for the first time, including assistance in deciding whether to hire advisors or outsource asset management functions to independent third-party advisors.
  • Support for independent advisors wishing to work with banks or credit unions to provide asset management services to the institutions’ clients.
  • Access to the technology-based financial planning platform GuideTrack from LaSalle St.

Skience hires Ex-Riskalyze Exec

The wealth management sector cloud service provider Skience has appointed Kyle Van Pelt, a former managing director of Riskalyze and SS&C Advent, as executive vice president of sales.

Van Pelt’s responsibilities include leading the Skience sales team, “accelerating sales and contributing to the company’s marketing and business strategy,” it said on Tuesday.

Skience works with broker-dealers and RIAs in the US to help companies “unify their technology, increase productivity, and position themselves and their advisors to deliver a superior customer service experience.”

The “flexible Skience platform helps asset management companies expand their capabilities and be more efficient through a wide range of automated solutions and integrations,” she adds.

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