BERWYN, PA — Envestnet (NYSE: ENV) has been acknowledged as a finalist in seven categories for the 2024 Wealth Management Industry Awards, an event celebrating its tenth anniversary. Known as the “Wealthies,” these awards highlight companies and individuals driving success in the financial advisory sector. Envestnet emerged as a standout among over 1,000 entries from more than 400 firms, highlighting its innovative approach and broad impact on the industry.
Molly Weiss, Group President of Envestnet’s Wealth Management Platform, expressed the company’s pride in these nominations. “Envestnet is honored by this recognition, which reflects our unwavering commitment to empowering financial advisors through our integrated wealth management platform. Our nominations across diverse categories underscore the breadth and innovation of the Envestnet ecosystem,” Weiss stated.
Envestnet’s nominations span several categories, reflecting its comprehensive solutions for financial advisors. In the ‘Direct Indexing for Asset Managers’ category, Envestnet’s Quantitative Portfolios (QPs) have been recognized. Managed by Envestnet subsidiary QRG Capital Management, these solutions offer a robust framework for advisors, contributing to a 40% annual growth in accounts and advisors over the past three years.
The ‘Insurance’ category nomination highlights the Envestnet Insurance Exchange, which provides advisors with seamless access to various annuity solutions. This platform, powered by Fiduciary Exchange, LLC (FIDx), has seen significant adoption, with over 600 active advisors and an average of 22 new users monthly.
A finalist in the ‘401(k) Technology for Retirement Plan Support and Advisor Services’ category, Envestnet’s Retire Complete platform launched in partnership with Empower. This digital solution offers retirement plan sponsors quick access to high-quality plans, blending Envestnet’s investment due diligence with Empower’s tailored communications.
The Envestnet Wealth Management Platform is nominated in the ‘Innovation Platforms’ category. This platform, with over $6 trillion in assets, has been pivotal in transforming fee-based financial advice. Envestnet’s dedication to integrating technology and insights positions it as a leader in the wealth management sector.
The ‘Unified (All-In-One) Systems’ category acknowledges the Envestnet Wealth Management Ecosystem for its comprehensive support to advisors. By providing essential tools and leveraging vast data insights, Envestnet enhances advisor-client interactions and boosts practice efficiency.
Additionally, the Advisor Credit Exchange, a component of the Envestnet Credit Exchange, has earned finalist status in two categories, further emphasizing Envestnet’s commitment to providing cutting-edge financial solutions.
The winners of these prestigious awards will be announced at a ceremony on September 5, 2024, at the Ziegfeld Ballroom in New York City. Envestnet’s multiple nominations highlight its influential role in advancing the wealth management industry and supporting financial advisors with innovative solutions.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.