Envestnet | PMC, Envestnet’s portfolio consulting group, says it’s launched a new suite of unified managed accounts aimed at financial advisors serving high-net-worth and ultra-HNW clients.
The new portfolios in Envestnet | PMC’s Strategist UMA program combine products from BlackRock, Clark Capital, Legg Mason, PIMCO and Russell Investments and are designed to allow advisors to offer clients portfolios for a range of risk tolerances, according to a press release from Envestnet. The suite of 86 multi-asset class portfolios, which include individual stocks, individual bonds, mutual funds and ETFs, will also incorporate PMC’s tax management and impact investing preference options, Envestnet says.
“We are enabling the advisor to automate the delivery of tax alpha and easily implement value-focused investing strategies,” Michael Featherman, managing director of Envestnet | PMC, says in the press release.
A “Digital Portfolio Consultant,” meanwhile, can help walk advisors through a series of questions to find the right portfolio for each client, according to the press release.
Assets on Envestnet’s Fund Strategist Portfolios program have grown from $26 billion in the fourth quarter of 2014 to $77 billion as of the third quarter of 2019, the company says. Its UMAs, meanwhile, have grown from $28 billion to $80 billion in the past 5 years, according to the press release.
Envestnet has made several enhancements to reach more advisors over the past few months. In January, Envestnet and Invesco rolled out seven new model portfolios combining active and passive fund management. Envestnet | PMC has offered such portfolio models for 12 years. In November, Envestnet added new tools that employ AI to measure clients’ wealth and conduct cash-flow analysis, among other features. In March 2019, Envestnet announced it was acquiring PIEtech, the creator of MoneyGuide applications.
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