Envestnet Delivers Holistic Reporting Capabilities to Enhance Advisors' Fiduciary Responsibilities

Reporting Solutions Now Also Offer Access to Schwab Performance Technologies'(R) Portfolio Center(R)

CHICAGO--(BUSINESS WIRE)-- Many advisors adhere to strict standards of fiduciary duty. And today, with the topic of fiduciary reform at the forefront, the current market environment is calling for greater fiduciary oversight and documentation of client wealth. Advisors who can communicate their fiduciary responsibility and disclose to clients a comprehensive, holistic view of their wealth can help ensure that they are serving their clients' best interests at all times.

With Envestnet's Reporting Solutions, advisors are equipped to become the preferred source of accurate information for clients. With a heritage of expertise in data management; more than 300 sources of financial data that include a wide range of custodians and several interfaces for directly placed mutual funds and annuities; and access to daily, fully reconciled data, Envestnet's Reporting Solutions allow advisors to manage their practice more effectively and efficiently - giving them more time to spend with clients, particularly during times of market uncertainty.

"Today, transparency is especially important," said James Lumberg, Co-founder and Executive Vice President of Business Development at Envestnet. "Clients are expecting their advisors to provide them with complete financial information on all their assets that is accurate and dependable. With a comprehensive picture of each client's wealth position, advisors can evaluate each situation and craft an appropriate investment plan that fits each client's individual needs."

He further states, "At Envestnet, we hold a unique position in the industry such that we have fiduciary responsibilities for many accounts and have a vested interest in maintaining accurate data. Data is collected through a direct feed across all sources at the transaction level. It's then sorted, scrubbed and normalized to avoid integrity issues. In the end, the data is reconciled to fix breaks at the source before it is loaded into our reporting system and published to each advisor's site by the following business day."

Envestnet's robust reporting functionality offer a wide range of capabilities that allow advisors to create customized reports for the unique demands of a home office, advisors and individual clients. Advisors can track metrics on multiple levels and access a comprehensive library of more than 25 different performance reports. Envestnet's reporting system even offers the flexibility to create and assign customized benchmark blends or develop derived benchmarks at either the aggregated level or under advisor directed programs. Any changes to a customized benchmark can be applied automatically to each account or reporting group associated with it.

"Our reporting services are extensive," said Mike Apker, Managing Director of Strategic Development at Envestnet. "Advisors can choose to outsource the daily collection, reconciliation and management of data as well as streamline their administrative and reporting activities by using a single integrated platform."

He said, "Our goal is to offer advisors broad reporting options that will empower them to strengthen the level of communication with clients on the performance of their assets."

In April, Envestnet acquired the assets of B-Ready Outsourcing Solutions, a Charlotte-based company that provides back-office data management and reporting services for users of Schwab Performance Technologies' Portfolio Center. Envestnet can now provide additional reporting capabilities and support to those advisors using Portfolio Center, offering advisors another channel to integrate their wealth management.

"We are excited to be working with Envestnet," said Linda Bready, Senior Vice President of Envestnet and former President of B-Ready. "B-Ready has a 10-year history of working with RIAs and their reporting needs. With Envestnet, our outsourced reporting clients now have a gateway to fully integrated technology to perform wealth management, planning, reporting and billing activities on a single platform."

To learn more about Envestnet's Reporting Solutions, visit envestnet.com/reportingsolutions.

ABOUT ENVESTNET

Envestnet is an advisor's gateway for expert wealth advisory solutions. Through an integrated technology platform, the company offers a broad range of investment products as well as fee-based services and solutions that include extensive reporting capabilities and front-, middle-, and back-office administrative tools to the independent financial advisor.

Envestnet is headquartered in Chicago with offices in Boston, Denver, New York, Silicon Valley and Trivandrum, India. The firm has over $94 billion in total assets served and more than 685,000 investor accounts.*

* Data includes assets under management and administration and licensing agreements as of 3/31/2010.

This press release contains no investment advice or recommendations and is provided for informational purposes only. Any investment is subject to risk. The asset classes and/or investment strategies described may not be suitable for all investors and investors should first consult with an investment advisor before investing. Investment decisions should be made based on the investor's specific financial needs and objectives, goals, time horizon, tax liability and risk tolerance. Neither Envestnet nor its representatives render tax, accounting or legal advice. Past performance is not a guarantee of future results.

(C) 2010 Envestnet. All rights reserved.

    Source: Envestnet

Released June 7, 2010