CHICAGO, Aug. 18, 2015 /PRNewswire/ -- Envestnet, Inc.
(NYSE: ENV) today announced plans to make NextShares™
exchange-traded managed funds available to financial advisors
through the Envestnet wealth management platform as part of its
advisor-as-portfolio-manager tools as well as through Fund
Strategist Portfolios (FSPs).
"Further expanding our FSP platform to include NextShares funds
is a great demonstration of what we consider to be our central
mission—helping financial advisors deliver high-quality,
personalized, and holistic wealth management services in the most
cost- and tax-efficient way possible," said Jim Patrick, Executive Vice President of
Envestnet | PMC®. "As of June
30, 2015, our network services over 41,000 advisors, almost
3 million investor accounts, and over $700
billion in total client assets. We are delighted to play a
role in supporting this groundbreaking fund structure."
Envestnet model management tools provide financial advisors with
a flexible framework for portfolio construction based on client
risk tolerances, including asset allocation, product selection,
implementation, monitoring, and rebalancing across multiple
investor accounts. Envestnet is working with Navigate Fund
Solutions LLC (Navigate) to integrate NextShares into Envestnet's
platforms, technology systems, and processes. This will allow for
the inclusion of NextShares funds in Envestnet's portfolio model
management tools.
"NextShares are a new type of actively managed fund that
includes the structural advantages of exchange-traded funds," said
Stephen W. Clarke, President of
Navigate. "We are pleased to partner with Envestnet to
incorporate NextShares into its portfolio model management tools,
which further demonstrates its commitment to
innovation."
About Envestnet
Envestnet, Inc. (NYSE: ENV) is a
leading provider of unified wealth management technology and
services to investment advisors. Our open-architecture platforms
unify and fortify the wealth management process, delivering
unparalleled flexibility, accuracy, performance, and value.
Envestnet solutions enable the transformation of wealth management
into a transparent, independent, objective, and fully-aligned
standard of care, and empower advisors to deliver better
outcomes.
Envestnet's Advisor Suite® software empowers financial advisors
to better manage client outcomes and strengthen their practices.
Envestnet provides institutional-quality research and advanced
portfolio solutions through our Portfolio Management Consultants
group, Envestnet | PMC®. Envestnet | Tamarac provides
leading rebalancing, reporting, and practice management
software.
For more information on Envestnet, please visit
www.envestnet.com and follow @ENVintel
(https://twitter.com/envintel).
Envestnet and Navigate Fund Solutions LLC are unaffiliated.
Envestnet does not offer or sell securities for
distribution.
This press release is for informational purposes only and is
not intended to constitute, and should not be construed as, an
offer to sell securities. The launch of NextShares is conditional
upon fund regulatory approval, the likelihood and timing of which
cannot be predicted. Commercial success also requires completion of
enabling implementation technology and acceptance by market
participants, which cannot be assured. Like mutual funds,
NextShares will not offer investors the opportunity to buy and sell
intraday based on current (versus end-of-day) determinations of
fund value. NextShares trade execution prices will fluctuate based
on changes in NAV and may vary significantly from anticipated
levels during periods of market volatility. Although limit orders
may be used to control trading costs, they cannot be used to
control or limit trade execution prices. There can be no guarantee
that an active trading market for NextShares will develop or be
maintained, or that their listing will continue unchanged. Buying
and selling NextShares may require payment of brokerage commissions
and expose transacting shareholders to other trading costs. Market
trading prices of NextShares may be above, at or below NAV, will
fluctuate in relation to NAV based on supply and demand in the
market for shares and other factors, and may vary significantly
from NAV. The return on a shareholder's NextShares investment
will be reduced if the shareholder sells shares at a greater
discount or narrower premium to NAV than he or she acquired the
shares. The performance of actively managed
NextShares will depend in part on the portfolio managers'
successful application of analytical skill and investment judgment.
A NextShares fund is not a complete investment program, and there
is no guarantee that it will achieve its investment objective. It
is possible to lose money on an investment in NextShares. Investors
in NextShares should have a long-term investment perspective and be
able to tolerate potentially sharp declines in value. An
investment in NextShares is not a deposit in a bank and is not
insured or guaranteed by the Federal Deposit Insurance Corporation
or any other government agency, entity or person.
Media
Contact:
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Laura
Simpson
|
|
JCPR
|
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lsimpson@jcprinc.com
|
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(973)
850-7319
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SOURCE Envestnet, Inc.