Envestnet to Offer New Data, Digital Solutions: Tech Roundup


What You Need to Know

  • Envestnet teamed with Door to streamline and optimize its research on asset managers and their investment strategies across the Envestnet ecosystem.
  • Envestnet is also expanding into the small- to medium-size business market with new data and digital solutions.
  • WisdomTree launched Portfolio and Growth Solutions to help RIAs and IBDs build, implement and manage their client portfolios.

Envestnet announced two new initiatives to enhance and expand its data and digital solution offerings.

The company entered into a partnership with Door, a global digital due diligence and risk management platform, to “streamline and optimize its research on asset managers and their investment strategies across the Envestnet ecosystem, and the industry,” the firms said in a joint announcement Wednesday.

Research analysts have typically used the same common information from investment managers during the due diligence process, with information often gathered using Microsoft Word and Excel documents exchanged via email, the firms noted.

But the “lack of a centralized source of information and notifications has made it cumbersome to manage due diligence questionnaires in many varied formats, and identify and monitor critical metrics,” they said.

The Envestnet/Door partnership “will help solve these inefficiencies by digitizing the due diligence experience, and enabling Envestnet | PMC manager research teams to benefit from” several Door offerings, they noted.

Those offerings include: digital due diligence questionnaires the firms said are “customized to meet Envestnet’s process that simplify the management of due diligence requests by reducing redundant content preparation, speeding up response times, and improving risk controls;” real-time updates on criteria including investment risk; and Door’s content database.

The latter “easily integrates with other research tools and makes it easy to edit documents and process and archive information,” the companies said.

Over 400 manager research firms and asset managers from more than 39 countries are represented on the Door platform, they added.

Separately, Envestnet said Monday it’s expanding into the small- to medium-sized business market by introducing data and digital solutions that “empower SMBs to intelligently connect, grow, protect, and manage the financial wellness of their business all in one place.”

The solution will be offered by Envestnet to its advisors and other clients to help their SMB clients better run their businesses by integrating data from across all the applications they use, the company said.

The initiative is part of Envestnet Data and Analytics’ “overall mission to drive financial wellness with data, artificial intelligence and an exceptional user experience,” Envestnet said, “while also optimizing/broadening Envestnet’s wealth capabilities and platform for advisors  — all of which help bring the Intelligent Financial Life to a new market.”

WisdomTree’s New Portfolio and Growth Solutions

WisdomTree Investments launched Portfolio and Growth Solutions to help RIAs  and independent broker-dealers build, implement and manage their client portfolios while also offering strategic growth guidance for advisors, the company said Monday.

WisdomTree’s asset gathering approach is concentrated on two main focus areas: large distribution networks where advisors use WisdomTree’s model portfolios across their book of business, and customized portfolios to RIAs and IBDs that they can use to support most of their books of business, it said.


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