CHICAGO, Aug. 23, 2021 /PRNewswire/ -- Envestnet has
rolled out updates to the new version of its Recommendations
Engine, allowing financial advisors at enterprise organizations and
Registered Investment Advisers (RIAs) to further optimize client
advice and engagement using data from across Envestnet's financial
The Recommendations Engine smartly sifts through consumer and
industry data throughout the Envestnet platform, as well as data
connectors such as Envestnet | MoneyGuide and Salesforce. The
engine's findings power the "Opportunities to Engage" dashboard,
which suggests actionable steps that advisors can take based on a
client's unique profile created by machine learning. These timely
and relevant data-driven recommendations for engaging clients are
presented in a comprehensive, streamlined format.
For example, the Recommendations Engine can flag when a
retirement date or other lifecycle event is coming up for a
specific client. Similarly, the Engine's "Opportunities to Engage"
dashboard can show advisors which clients have unusually high
levels of cash, surfacing data points that highlight opportunities
for advisors to meaningfully engage with their clients.
Envestnet Analytics can connect to additional data sources in a
variety of formats, and push that data to customer relationship
management (CRM) systems like Salesforce and, soon, Microsoft
Dynamics—enabling advisors to directly view and choose whether or
not to act on recommendations from that data in their current
"By culling more and more intelligence in our data to help
advisors proactively address the needs of individual clients in
real time, the Recommendations Engine serves as an essential
component of The Intelligent Financial Life™," said
Todd Buck, Managing Director and
Head of Business Development at Envestnet Analytics. "We
continue to implement updates to the Recommendations Engine to give
advisors greater insight for discovering opportunities to serve
clients more effectively and efficiently."
Envestnet's most recent updates to the Recommendations Engine
- Planning Analytics—Through single-sign-on access to the
Recommendations Engine in MoneyGuide, RIAs that utilize the
MoneyGuide financial planning solution can receive advisor-level,
data-driven recommendations for helping clients adhere to their
plans. These recommendations, available to MoneyGuide users that
might not utilize Envestnet | Tamarac, are presented in the
"Opportunities to Engage" dashboard. In addition, advisors can
uncover analytics from MyBlocksSM and MoneyGuide's
- Annuity Insights & Strategies—Through a data
connection with Fiduciary Exchange, LLC (FIDx), the Recommendations
Engine brings advisors actionable insights to benefit their clients
using annuities. Intuitive dashboards help advisors target specific
opportunities within their books while giving home offices a view
of firm-wide opportunities. The Recommendations Engine can show
- When an annuity has reached maturity.
- When the client may benefit by converting a commission-based
annuity to a fee-based annuity.
- When the client can receive more value from new features
offered by carriers.
The Recommendations Engine can also help advisors bring a more
holistic strategy to their clients by addressing needs—such as
income, wealth protection and taxes—that annuities are uniquely
designed to tackle.
"An advisor's book of business can include hundreds of clients,
so a powerful, differentiated engine like ours is crucial for
identifying opportunities to engage individual clients, and
communicating the possible courses of action to take," said Mr.
Buck. "Envestnet's data and analytics provide the blueprints
for how advisors can bring all the pieces together for households,
and use these connections to engage with clients at a higher
Envestnet refers to the family of
operating subsidiaries of the public holding company, Envestnet,
Inc. (NYSE: ENV). Envestnet 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. Nearly 108,000 advisors and more than 6,000
companies including: 17 of the 20 largest U.S. banks, 46 of the 50
largest wealth management and brokerage firms, over 500 of the
largest RIAs and hundreds of FinTech companies, leverage Envestnet
technology and services that help drive better outcomes for
enterprises, advisors and their clients.
For more information, please visit www.envestnet.com, subscribe
to our blog, and follow us on Twitter (@ENVintel) and LinkedIn.
Fiduciary Exchange LLC (FIDx) is a leading digital marketplace
for annuities, enabling financial advisors to make guaranteed
income and protection a core component of their clients'
portfolios. Financial advisors can utilize FIDx to seamlessly
research, monitor, and invest in annuities alongside clients'
traditional managed accounts—and do so within their existing wealth
management platforms. By providing access to the industry's leading
annuity carriers and products, FIDx makes it easy for advisors to
offer insurance solutions to clients, and incorporate them into
holistic financial plans.
To learn more, please visit https://fid-x.com/ and follow
FIDx on LinkedIn.
Envestnet, Inc. has a financial interest in Fiduciary Exchange
LLC (FIDx), and occupies seats on its board of directors.
Potential transactions identified by the Recommendations
Engine are for informational purposes only and are not to be
construed as an instruction to take any specific action.
Advisors should use the suggested recommendations in conjunction
with their own analysis as to whether an action is appropriate for
the individual client.
JConnelly for Envestnet
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SOURCE Envestnet, Inc.