By extending client relationships to the next generation, advisers can take control of assets and associated income for longer periods of time, Envestnet said Wednesday. The solutions provided by the new platform “can also help capture new assets for clients who currently use other trust providers for trust administration and asset management solutions,” he said. he declares.

Advisors who use 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,” according to Envestnet.

The exchange has a network of attorneys and trustees who will work with advisors to manage trust account documentation, asset transfers and regulatory compliance navigation. After opening a trust account, the advisor, client, attorney and administrator can work together on the exchange platform, where the advisor will retain custody of the client’s assets, Envestnet said. .

“Without an estate plan and trust account strategy, clients risk losing control of their savings after death or disability,” said John Yackel, executive general manager and head of strategic initiatives at Envestnet.

“But while advisors understand that many of their clients will likely be part of one of the largest intergenerational wealth transfers in history, they have yet to fully embrace estate planning and trusts, because they believe. need the expertise of other service providers, ”he said in the announcement.

Therefore, “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 of accounts – with integrated integration of lawyers. and trust the administrators, ”he said.

More than 105,000 advisors in more than 5,100 companies now operate the Envestnet platform, the company said.


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