CHICAGO, March 25, 2021 /PRNewswire/ -- Envestnet,
Inc. (NYSE: ENV) announces that BOK Financial (NASDAQ: BOKF) has
joined the Envestnet Trust Services Exchange, powered by
Trucendent, in a partnership aimed at providing financial advisors
and their clients with access to a nationally chartered,
advisor-friendly trust company with a broad array of services.
The Envestnet Trust Services Exchange was created through
partnership with Trucendent, a provider of tools and solutions for
enabling advisors to strengthen their understanding and use of
trusts in estate planning. BOK Financial Advisor Trust Services is
now available on Envestnet's Trust Services Exchange, fulfilling a
critical role in the wealth transfer process.
"Naming a friend or family member as a trustee may seem like a
simple solution, but it may not always be the best solution. Most
individuals lack the expertise and experience needed to serve as
trustee," said John Yackel,
Executive Managing Director and Head of Strategic Initiatives at
Envestnet. "Given the extent of the responsibilities involved
and the potential liability in the event of an error, selecting a
professional trustee may be a better alternative. Another key
benefit of this integrated platform is that it offers advisors with
clients, who may be unhappy with their current corporate trustee,
the flexibility to potentially move those relationships to this
offering and to take advantage of an integrated and improved client
experience, while capturing new assets."
The Envestnet Trust Services Exchange is the only
advisor-centric offering that supports the entire wealth transfer
process. This solution integrates goal-setting, advice creation,
documentation, account implementation, and trustee services while
leveraging a powerful third-party estate planning attorney
network.
"Envestnet and BOK Financial are aligned in the mission to
empower advisors to better serve their clients through trust
administration solutions," said Rosemary
Hueser, Senior Vice President, Manager of BOK Financial Advisor
Trust Services. "Our trust administration solutions can help
enhance, strengthen, and grow advisors' relationships with clients,
as well as their practices by capturing and retaining trust assets.
This partnership allows us to meet and work with today's most
forward-looking advisors on the platforms that they are comfortable
with, and inside of their natural planning processes."
The Envestnet Trust Services Exchange will be fully integrated
with Envestnet | MoneyGuide, Envestnet | Tamarac, and other
offerings within the Envestnet ecosystem. This will enable advisors
to integrate this new capability for managing trust accounts into
the platforms and workflows that drive their practices
today.
About Envestnet
Envestnet, Inc. (NYSE: ENV) is transforming the way financial
advice and wellness are delivered. Our mission is to empower
advisors and financial service providers with innovative
technology, solutions, and intelligence to make financial wellness
a reality for everyone. Over 106,000 advisors across more than
5,100 companies—including 17 of the 20 largest U.S. banks, 47 of
the 50 largest wealth management and brokerage firms, over 500 of
the largest RIAs, and hundreds of Fintech companies—leverage the
Envestnet platform to grow their businesses and client
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.
About BOK Financial Corporation
BOK Financial Corporation is a $47
billion regional financial services company headquartered in
Tulsa, Oklahoma with $92 billion in assets under management and
administration. The company's stock is publicly traded on NASDAQ
under the Global Select market listings (BOKF). BOK Financial
Corporation's holdings include BOKF, NA; BOK Financial Securities,
Inc., BOK Financial Private Wealth, Inc. and BOK Financial
Insurance, Inc. BOKF, NA operates TransFund, Cavanal Hill
Investment Management and BOK Financial Asset Management, Inc.
BOKF, NA operates banking divisions across eight states as: Bank of
Albuquerque; Bank of Oklahoma;
Bank of Texas; and BOK Financial
in Arizona, Arkansas, Colorado, Kansas and Missouri; as well as having limited purpose
offices in Nebraska, Milwaukee and Connecticut. Through its subsidiaries, BOK
Financial Corporation provides commercial and consumer banking,
brokerage trading, investment, trust and insurance services,
mortgage origination and servicing, and an electronic funds
transfer network. For more information, visit www.bokf.com.
This release refers to information products or services that
may be in development and 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). BOK Financial and Envestnet are separate and
unaffiliated firms. This release should not be construed as a
recommendation or endorsement of any particular product, service,
or firm.
Media Contact:
Dana Taormina
JConnelly for Envestnet
973.647.4626
envestnetpr@jconnelly.com
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SOURCE Envestnet, Inc.