Partnership with Trucendent directly integrates advisors with trust administrators, trustees and estate planning lawyers – allowing RIAs and brokers to manage trust accounts

CHICAGO, February 24, 2021 / PRNewswire / – Envestnet, Inc. (NYSE: ENV) Announces the Launch of Investnet Trust Services Exchange, a new solution to help registered investment advisers (RIAs) and broker-dealers seamlessly use online accounts. trust to facilitate the efficient transfer of wealth from generation to generation.

Envestnet, Inc. (NYSE: ENV) is transforming the way financial and wellness advice is delivered. Our mission is to empower financial advisers and service providers with innovative technologies, solutions and information to make financial wellness a reality for all. Over 105,000 advisors in over 5,100 companies, including 17 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs and hundreds of FinTech companies , take advantage of the Envestnet platform to develop their activities and customer relationships. (PRNewsfoto / Envestnet, Inc.)

“Without an estate plan and trust account strategy, clients risk losing control of their life savings after death or disability. But while advisors understand that many of their clients will likely be part of one of the largest intergenerational wealth transfers in history, they still have to fully embrace estate planning and trusts because they believe they need to. expertise from other service providers, ”said Jean Yackel, Executive Managing Director and Head of Strategic Initiatives at Envestnet. “In response to demand from advisors, Envestnet developed the Trust Services Exchange to provide advisors and their clients with a unified experience that guides the setting of wealth transfer goals, advice, trust documentation and implementation. account implementation, with integrated integration of lawyers and trust. Now advisors can help clients avoid family conflicts and preserve their clients ‘wealth across generations, while retaining responsibility for managing their clients’ investment portfolios.

The Envestnet Trust Services Exchange was created in partnership with Tricky, a provider of tools for advisors to strengthen their understanding and use of trusts in estate planning. The platform will be fully integrated with Envestnet | MoneyGuide, Envestnet | Tamarac, and other offerings within the Envestnet ecosystem. This will allow counselors to integrate this new capability into the platforms, processes and models that govern their practice today.

“The control and flexibility associated with the trust account makes it the ideal estate planning vehicle for accommodating clients with various types of family structures, while helping to manage and mitigate tax obligations,” said Jean Scarpato, Co-founder and President of Trucendent. “We are proud to work with Envestnet to democratize the benefits of trust accounts in estate planning for all client segments, not just the very high net worth segment that has traditionally been the subject of such solutions.

Advisors using the Envestnet Trust Services Exchange do not have to foster external relationships with attorneys and trust administrators in order to open, approve and monitor recommended trust accounts for their clients. The Exchange’s network of attorneys and trustees work with advisors to manage 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.

Strategically, this platform can help advisors extend their client relationships to the next generation, retaining control of the assets and associated income. Such solutions can also help capture new assets for clients who currently use other trust providers for trust administration and asset management solutions. In addition, providing this service will help advisors continue to distinguish their practices.

“The transparent transfer of wealth to the next generation is an essential part of financial planning for clients and their families. Advisors told us they wanted to be able to help clients navigate estate planning using trust accounts that align with each client’s approach to financial planning – and we listened, ” said Bill crager, co-founder and CEO of Investnet. “The launch of our trusted exchange is the latest step in the continued growth of our ecosystem, expanding the range of data-driven tools and insights advisors need to deliver smart, connected financial lives to their clients. “

About Investnet
Envestnet, Inc. (NYSE: ENV) is transforming the way financial and wellness advice is delivered. Our mission is to empower advisors and financial service providers with innovative technologies, solutions and information to make financial wellness a reality for all. Over 105,000 advisors in over 5,100 companies, including 17 of the 20 largest US banks, 47 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs and hundreds of fintech companies , take advantage of the Envestnet platform to develop their activities and customer relationships.

For more information on Envestnet, please visit www.envestnet.com, subscribe to our blog and follow us on Twitter (@ENVintel) and LinkedIn.

For more information on Trucendent, please visit www.trucendent.com

This version refers to information products or services which may be under development and which are not yet available. Accordingly, nothing in this release should be construed as a representation or legal agreement by Envestnet to make available specific products or services (including, without limitation, concepts, systems, or techniques.)

Media contact:

Dana taormina
JConnelly for Envestnet
973.647.4626
[email protected]

Cision

Cision

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SOURCE Envestnet, Inc.



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