CHICAGO, March 30, 2021 /PRNewswire/ -- Envestnet, Inc.
(NYSE: ENV) announces that Envestnet | PMC (PMC) has launched
Private Wealth Consulting, a new white-glove offering that allows
financial advisors to meet the investment management needs of
high-net-worth clients, while also strengthening client engagement
and relationships. Private Wealth Consulting strengthens the full
breadth of PMC's high-net-worth servicing capabilities with custom
discretionary portfolio construction that includes tax and impact
overlay options.
PMC's Private Wealth Consulting Service enables advisors to
provide customized portfolio recommendations, based on asset
allocation and manager research from PMC, for clients with at least
$1 million in assets. The service
will be supported by a newly formed high-net-worth solutions team
that will consist of eight client portfolio managers averaging over
10 years of experience building customized portfolios for
high-net-worth clients. This team will partner with PMC's portfolio
management team, which manages over $21
billion as of December 31,
2020, to build and manage the portfolios on an ongoing
basis.
Following a conversation with the advisor to understand the
client's required return, risk tolerance, investment strategy
biases, and unique investment goals and circumstances, a client
portfolio manager will compile portfolio recommendations using
insights from PMC's research and portfolio management teams.
Investment styles include active, active/passive, cost-sensitive,
factor-based, impact, and decumulation strategies. Client
portfolios can be customized to accommodate for concentrated equity
holdings and unique tax situations, and to align assets with
clients' personal values and beliefs.
The client portfolio manager will then assist the advisor with
ongoing client service support, including annual and quarterly
portfolio reviews, asset allocation and investment product updates,
and investment policy statement changes.
"Private Wealth Consulting allows advisors to outsource asset
allocation, manager research, and portfolio construction and
management to us at PMC, but we aren't taking anything away from
advisors—our primary goal is to help advisors add value, by giving
them more time to focus on client relationships and giving them
portfolio recommendations that can help meet clients' individual
needs," said Michael Featherman,
CFA, Managing Director and Head of Investment Specialists at
Envestnet | PMC. "We work with advisors to put together
intelligent, personalized proposals for clients, and we take care
of ongoing portfolio management—helping advisors improve investment
outcomes for clients while growing assets under management."
"As we continue to build our financial wellness ecosystem, we
consistently seek new ways to provide advisor firms of all sizes
with more services to effectively and efficiently service their
clients," said Dana D'Auria, CFA, Co-Chief Investment Officer of
Envestnet. "To help make financial wellness a reality for their
clients, advisors need to be able to act as a wealth manager in
addition to an investment advisor. PMC's Private Wealth Consulting
enables them to connect more areas of clients' financial lives with
institutional-quality, highly customized portfolios which conform
to specific investment objectives—even if they outsource investment
management."
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 | PMC, please visit
www.investpmc.com.
Media Contact:
Dana Taormina
JConnelly for Envestnet
973.647.4626
envestnetpr@jconnelly.com
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SOURCE Envestnet, Inc.