Investment advisors and registered brokers in the Envestnet network will now have the ability to manage trust and estate planning accounts for their clients through a new integration with Trucendent.

Seeking to deploy a tool that tackles the $ 68 trillion in wealth expected to flow into the hands of next-generation investors, the tech giant on Wednesday announced the launch of the Investnet Trust Services Exchange designed to enable advisers to facilitate the transfer of wealth from generation to generation. generation without dealing with outside lawyers or trust administrators.

For Envestnet, the idea was to create an advisor-led process related to estate planning so that the advisor maintains control over their clients’ assets until the next generation, said John Yackel, executive general manager and head of estate planning. strategic initiatives at Envestnet.

“We wanted to create not only the technology but also the onboarding process, which would help facilitate a proactive environment for the advisor to say, ‘We think the trust vehicle and the trust account is the best possible way to help preserve wealth, “and transfer it to the next generation,” Yackel said.

The Trust Services Exchange will be fully integrated with Envestnet MoneyGuide and Envestnet Tamarac, Yackel said. For now, the tool is launched with a selected group of financial advisers in a pilot phase with full deployment to over 105,000 advisers slated for the second quarter.

Here’s how it works: The Trust Services Exchange provides a network of trusted attorneys and administrators who work behind the scenes with advisors to handle trust account documentation, asset transfers and regulatory compliance navigation. . Once a trust account is opened, the advisor, client, attorney, and administrator can work together on the Exchange platform, where the advisor will retain custody of the client’s assets.

Trucendent technology generates all the documentation needed to demonstrate trust, said Trucendent co-founder and president John Scarpato.

“In our model, the advisor retains control of the management of the portfolio,” said Scarpato. “This is where the importance of our integration with Envestnet lies because the advisor will be using one of their platforms to manage this portfolio, they don’t need to change who their custodian provider is and they don’t have to. obviously no need to change your portfolio management system.

Investnet’s latest integration is another move to democratize financial services, Scarpato said, as the benefits of trust accounts in estate planning will be available to all customer segments, not just the super-large segment. net worth that has traditionally been the center of attention.


The integration with Trucendent is just the latest in a long list that Investnet has to its credit. More recently, Envestnet MoneyGuide deployed MoneyGuideEngine, a service that integrates MoneyGuide algorithms into any digital offering based on personal finance, according to Monday’s announcement.

“Essentially, we’re now enabling businesses to integrate our proven ‘computing brain’, or the core API engine that powers Envestnet MoneyGuide, into their own scheduling software offerings and products,” said Tony Leal, president of Envestnet MoneyGuide.

The large amount of API integrations for Envestnet is noticeable when fintech has the size to acquire some of these companies, said Steve Zuschin, executive vice president of enterprise technology adoption at LifeYield, who has also integrations with Envestnet. The largest TAMP in terms of assets reigns supreme with assets under management reaching $ 229 billion in September.

Integrations make sense because they allow two companies to engineer the ability of two different technology platforms to talk to each other, Zuschin said.

“Going forward, we’ll see more fintech companies come out with this first API model where they are looking at door-to-door integrations,” Zuschin said. “[Fintechs] will think, “How can someone else take advantage of our engine where we solve this unique and sophisticated problem to improve its larger, holistic solution?” “”

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