BERWYN, PA — Fintech giant Envestnet has announced the launch of its innovative RIA Growth Lab. This new consulting capability aims to bolster the growth and productivity of RIAs by providing comprehensive practice valuation consulting services, powered by cutting-edge technology.
The wealth management landscape is in constant flux and Envestnet’s new offering is crafted to help RIAs stay competitive and optimize their practices. The RIA Growth Lab will offer peer benchmark grades on critical metrics such as revenue, client satisfaction, and business stability.
Key features of the RIA Growth Lab include:
- Peer Benchmarking: Leveraging advanced technology, Envestnet compares an RIA’s performance against industry peers, providing valuable insights into strengths and areas for improvement.
- Practice Valuation Enhancement: By analyzing key performance metrics, Envestnet’s consulting team helps RIAs identify strategies to increase their overall valuation and efficiency.
- Deepening Engagement: The RIA Growth Lab offers deeper consulting engagements for advisors looking to strengthen their relationship with the Envestnet ecosystem. This includes access to Envestnet’s extensive suite of tools and resources.
This initiative is spearheaded by Dani Fava, Group Head of Product Innovation at Envestnet. Known for her expertise in the wealth management industry, Fava’s leadership is expected to drive this innovative consulting group forward.
“Our goal is to assist RIAs in optimizing their practices, delivering enhanced value to clients, and deepening their connection with Envestnet’s comprehensive ecosystem of solutions,” said Fava.
Joel Bruckenstein, fintech expert and President of T3 Technology Products and Services, voiced his approval of the new consulting initiative. He believes that the RIA Growth Lab will significantly impact how advisors deliver value to clients through the Envestnet ecosystem.
The launch of the RIA Growth Lab not only underscores Envestnet’s commitment to empowering advisors but also has the potential to reshape the landscape of wealth management. As RIAs strive to adapt to an ever-evolving marketplace, tools like the RIA Growth Lab could be game-changers, helping them thrive amidst change and deliver enhanced value to clients.
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