CHICAGO, Aug. 10, 2016 /PRNewswire/ -- Envestnet |
Retirement Solutions (ERS), a majority-owned subsidiary of
Envestnet, Inc. (NYSE: ENV), has commenced a strategic partnership
with HealthSavings Administrators, LLC to provide both
retirement and wealth advisors with the opportunity to demonstrate
the unique triple-tax advantages of Health Savings Accounts (HSAs)
by utilizing any managed account portfolio (their own or a
qualified fund strategist's) as the investment vehicle.
Since HSAs were created in 2004, HealthSavings' focus has
been on helping individuals build assets for future eligible
medical expenses by leveraging the opportunity to invest their HSA
funds. Among the top 1% of the nation's HSA investment companies in
accounts and assets, HealthSavings offers first-dollar
investing in a wide variety of mutual funds, with the ability to
easily view the activity through the Investment Provider
Xchange™ (IPX)platform.
"This partnership gives retirement and wealth advisors access to
an innovative way to manage accounts and provide guidance to their
customers on HSA investments," said Pat
Jarrett, President and Co-Founder of
HealthSavings. "Benefits that encourage an investment
mindset, like first-dollar investing, have driven our average
balance for investment HSAs to $15,000, compared to the national average of
about $2,000. Smart investors and
advisors see the opportunity, and we look forward to working with
more of them through our relationship with Envestnet | Retirement
Solutions."
ERS is a leader in the retirement plan marketplace, providing an
automated, end-to-end technology solution that empowers advisors to
deliver customizable solutions to plan sponsors and their
participants.
"HSAs are increasingly becoming a vital component of the
individual investor's long-term retirement strategy," said Babu
Sivadasan, Group President of Envestnet | Retirement
Solutions. "Retirement savers deserve access to the same level
of investment advice, provided by a qualified fiduciary, for their
HSA assets that they receive for the rest of their portfolios, and
this partnership equalizes the quality of advice they can leverage
across their portfolios."
About Envestnet | Retirement Solutions
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
empowers advisors to deliver better outcomes.
Envestnet | Retirement Solutions (ERS), a majority-owned
subsidiary of Envestnet, Inc. provides retirement advisors with an
integrated platform that combines one of the industry's leading
practice management technology, research and due diligence, data
aggregation, compliance tools and intelligent managed account
solutions. ERS leverages Envestnet's advanced capabilities and
resources, along with its experience in investment research,
portfolio construction and investment management, to meet the
specialized needs of each retirement plan stakeholder, from plan
participants to sponsors, advisors to home offices and record
keepers to DCIOs.
Envestnet | Yodlee is a leading data aggregation and data
analytics platform powering dynamic, cloud-based innovation for
digital financial services. More than 1,000 companies, including 11
of the 20 largest U.S. banks and hundreds of Internet services
companies, subscribe to the Envestnet | Yodlee platform to power
personalized financial apps and services for millions of consumers.
Envestnet | Yodlee solutions help transform the speed and delivery
of financial innovation, improve digital customer experiences, and
drive better outcomes for our clients and their customers.
For more information on Envestnet Retirement Solutions, please
visit www.envestnet.com.
About HealthSavings Administrators
HealthSavings helps clients prepare for life's changing
health and financial needs with investment health savings accounts
(HSAs). The company got its start in 1996 as a medical savings
account (MSA) administrator and shifted focus to HSAs after the
legislation enacting HSAs passed in January
2004. The company manages nearly $500
million in investments with clients in all 50 states,
including employer groups, brokers, financial advisors and
individual investors. Known as "the investor's HSA,"
HealthSavings has been consistently recognized as one of the
best values in HSAs with mentions in Forbes, Money
magazine, the Wall Street Journal, Kiplinger's and
Reuters as well as various online publications. Learn more
at HealthSavings.com.
About the Investment Provider Xchange™ (IPX)
The Investment Provider Xchange™ (IPX) is a
Software-as-a-Service (SaaS)-based custodial, administrative, and
recordkeeping platform for health savings accounts (HSAs). Driven
by innovative cloud-based technology that addresses the needs of
investment providers and their distribution channels, IPX features
a unique white-label architecture that allows for a highly
customized HSA offering that can carry any unique brand. IPX is an
exclusive offering of FPS Group, LLC. Learn more at
http://www.fpsgroupllc.com/IPX-HSA.
About FPS Group, LLC
FPS Group is dedicated to serving financial intermediary clients
and providing custodial services for more than 70,000 HSAs. Its
innovative, cost-efficient products and services are designed to
ensure streamlined processing and electronic solutions. The company
strives to consistently deliver industry-leading products with
exceptional service. It provides a positive environment for
impeccable standards, professional ethics and integrity for our
clients and our employees. It specializes in offering agent custody
and transactional processing services to mid-market financial
services companies. FPS Group prides itself in being loyal and
ethical, and will work to meet your objectives with an
uncompromising commitment to integrity. Learn more at
fpsgroupllc.com.
CONTACT:
|
Dana
Taormina
|
|
JConnelly
|
|
(973)
850-7305
|
|
dtaormina@jconnelly.com
|
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SOURCE Envestnet | Retirement Solutions