CHICAGO, July 8, 2021 /PRNewswire/ -- Envestnet, Inc.
(NYSE: ENV) announces that Sterling Trustees has joined the
Envestnet Trust Services Exchange, powered by Trucendent, to
provide its suite of South Dakota
trust administration services as an embedded offering to Registered
Investment Advisers (RIAs) and broker-dealers.
The Envestnet Trust Services Exchange is the only
advisor-centric solution which supports the entire wealth transfer
process through the use of trust accounts. The Exchange integrates
advice creation, documentation, goal setting, account
implementation, and trustee services within a single platform,
while also leveraging a powerful third-party estate planning
attorney network. Envestnet launched the Exchange in partnership
with Trucendent (https://www.trucendent.com/), a provider of wealth
transfer planning solutions designed to help advisors cultivate and
grow relationships with the next generation.
"South Dakota offers many
favorable trust and tax laws, and easy access to an independent
trustee specializing in South
Dakota trusts is vital for allowing advisors and
broker-dealers to take advantage of these benefits for clients,"
said John Scarpato, President and
Co-Founder of Trucendent. "Expanding the selection of
independent corporate trustees on the Envestnet Trust Services
Exchange gives advisors more tools and expertise for planning the
transfer of wealth for clients and fostering relationships with
their clients' children and grandchildren during the
Sioux Falls, S.D.-based
Sterling Trustees serves as an independent corporate trustee for
high-net-worth families around the world. South Dakota enables trust assets to grow free
of state income tax and capital gains tax and permits trusts with
an unlimited duration—giving beneficiaries ongoing protection from
creditors and ex-spouses in perpetuity. Under South Dakota law, family members and their
professional advisors can also fulfill traditional trustee roles
through directed or delegated trusts. Sterling Trustees serves as
an unbiased partner helping attorneys and advisors create,
transfer, and manage South Dakota
trusts. For more information about the Sterling Trustees offering
for investment advisors, please visit
"Our mission is to help advisors maintain control of client
assets through the use of trusts as they pass to children and
grandchildren," said Antony
Joffe, President of Sterling Trustees. "Our
representation on the Envestnet Trust Services Exchange allows more
advisors to ensure clients' family legacies continue as intended
under their watchful eyes and increase the likelihood of managing
those growing assets for the next generation."
In addition, the Envestnet Trust Services Exchange has been
integrated with Envestnet | MoneyGuide, Envestnet
| Tamarac, and other offerings across the Envestnet ecosystem.
This integration enables advisors to seamlessly incorporate trust
account management capabilities into the platforms and workflows
currently driving their practices.
"We continue to build and enhance our financial wellness network
so advisors can seamlessly create The Intelligent Financial
Life™ for clients and their families," said
Andrew Stavaridis, Executive
Group Head, Solutions Distribution at Envestnet. "The presence
of advisor-friendly trust companies on the Envestnet Trust Services
Exchange gives advisors the power to expand the definition of
advice they can deliver and take the initiative to easily manage
the transfer of clients' assets to future
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 5,200 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, please visit www.envestnet.com, subscribe
to our blog, and follow us on Twitter (@ENVintel) and LinkedIn.
Trucendent provides a suite of estate
planning and trust transfer solutions which are designed to help
advisors connect with the next generation. The firm's offering
enables a seamless wealth transfer process that incorporates
crucial family insights. Trucendent has created a powerful network
comprised of leading estate planning attorneys along with the
industry's leading advisor-friendly corporate trustees for
effectively servicing all types of trust accounts.
In addition to empowering advisors to leverage the unique
characteristics of a trust account to achieve their clients' goals,
Trucendent engages all parties involved in the wealth transfer
process—advisors, attorneys, family members, and trustees—through a
cohesive and collaborative platform that provides a unified and
consistent experience. To learn more about Trucendent, please visit
About Sterling Trustees
Sterling Trustees is an
independent South Dakota chartered
trust company providing trust and administration services to high
net worth families in the United
States and in over 25 countries internationally. By removing
all conflicts of interest, Sterling provides advisor friendly
trustee services. Sterling will act as either a delegated or
directed trustee and does not provide any investment management
services. The Company is based in Sioux
For more information, please visit www.sterlingtrustees.com or
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
Neither Envestnet nor its representatives render tax,
accounting, or legal advice. Any tax statements contained herein
are not intended or written to be used, and cannot be used, for the
purpose of avoiding U.S. federal, state, or local tax penalties.
Taxpayers should always seek advice based on their own particular
circumstances from an independent tax advisor.
JConnelly for Envestnet & Trucendent
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SOURCE Envestnet, Inc.