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Envestnet Elevate 2025: Driving Financial Advisor Growth

The much-anticipated Elevate 2025 event, hosted by Envestnet in the vibrant city of Las Vegas, opened its doors this week. With over 2,000 financial advisors, RIAs, enterprise leaders, and fintech experts participating, this premier wealth management conference focuses on essential solutions that foster growth in the financial advisory sector. The event highlights the critical importance of wealth technology and comprehensive solutions in addressing the escalating complexities faced by clients in today’s financial landscape.

With projections suggesting a looming shortage of about 100,000 financial advisors by 2034, according to recent analyses, the urgency for innovative tools to assist advisors in scaling and personalizing services is at an all-time high. The Elevate 2025 event serves as a platform to showcase how Envestnet’s integrated wealth management system empowers firms to thrive amid these challenges.

Envestnet's Transformational Vision

This year marks a pivotal moment for Envestnet, particularly under the leadership of its new CEO, Chris Todd. Transitioning the business focus towards innovation and enhanced advisor support is the company's prime objective. Todd emphasizes, “Envestnet has redefined financial advice and is opening a new chapter by emphasizing innovation, speed, and a commitment to delivering better client outcomes.” The conference is set to exhibit transformative strategies that will define the next era of wealth management while cementing Envestnet’s legacy of fostering advisor growth.

WealthTech at the Forefront

With a plethora of insightful content, Elevate features engaging keynote sessions and breakout discussions focused on the latest developments in WealthTech. Key highlights include advancements in the Envestnet platform, incorporating AI-powered tools designed to automate processes and enhance data-driven insights. This year, the event spotlights several specific technological innovations:

• - Advisor Traded Sleeves within Unified Managed Accounts (UMA) – This feature aims to offer advisors a customizable approach to managing investments.
• - New Prospect Tools for Client Portals – Aimed at improving client engagement, these tools are set to empower advisors in building stronger client relationships.
• - AI-Driven Features – The introduction of AI-backed dynamic dashboards significantly improves the user experience and data accessibility for advisors.

Molly Weiss, Group President of Wealth Management Platform at Envestnet, noted that these innovations are crucial in enhancing flexibility and shifting towards a more comprehensive understanding of client needs. “Our focus is on delivering impactful solutions to enhance advisor-client interactions,” she stated.

Insights Engine: Data-Driven Decision Making

Central to Envestnet's value proposition is its Insights Engine, which utilizes data from approximately $6.5 trillion in platform assets to provide daily unique insights. With 25 million new insights generated across more than 100 categories, advisors are equipped with the knowledge to identify potential opportunities and address client challenges effectively. Early analysis indicates that the most frequently leveraged insights pertain to non-managed accounts and various investment strategies, helping advisors maintain a competitive edge in their practices.

Innovations in Financial Planning with MoneyGuide

Envestnet also showcases its MoneyGuide platform, which has revolutionized the financial planning landscape by allowing a significant number of advisors to craft tailored financial plans. In the last two years alone, advisors have utilized MoneyGuide tools to create over 7 million client plans. New features, such as improved tax planning capabilities and enhanced scenario builders, have received accolades for streamlining the planning process.

Matt Wilson, Head of MoneyGuide Sales at Envestnet, described the integration of advanced income planning tools as a crucial component of their offering. These tools facilitate tax-efficient strategies that help clients retain maximum benefits during the distribution phase of retirement.

Expanding Access to Alternative Investments

Additionally, the event highlighted Envestnet's commitment to broadening access to alternative investments for high-net-worth clients. By enhancing their infrastructure and forming new partnerships, Envestnet is innovating in the rapidly expanding alternative investment market. With an emphasis on integrating alternative data partners, clients can access comprehensive reporting and insights into alternative investment portfolios, ultimately providing a streamlined experience for advisors and their clients.

Envestnet recognizes the importance of collaboration, expressing gratitude to its sponsors and partners who contribute to the success of the Elevate 2025 conference. The multiple sessions and networking opportunities throughout the event allow attendees valuable insights and actionable strategies to take back to their practices.

Conclusion

As Elevate 2025 unfolds, it becomes clear that the future of wealth advice rests on the ability of advisors to leverage advanced technology, comprehensive planning tools, and valuable insights. Envestnet positions itself at the forefront of this transition, inspiring financial professionals to embrace an era defined by innovation, strategic growth, and enhanced client service. For further updates, follow Envestnet on social media using the hashtag #ENVElevate.