Powering Advisors to Bring in a Holistic Picture for the Investor


Recorded at the Envestnet Advisors Summit 2022.  Presented by:

Advisorpedia interviewed Ashley Dahl, Head of Product at Envestnet, at the Envestnet Advisor Summit in May, 2022.


We just launched our brand new client portal this month. And it's exciting because it brings in a very holistic picture for the investor. So it gives the best of money guide pro with all of our planning integration, giving them the capability of seeing their goals, their cash flow, being able to play with what their variables all that make up their plan.

So a very engaging planning experience, it also brings in our aggregation piece. . .

So it allows us to aggregate outside accounts, bring in manual accounts to really build out that net worth alongside all of our reporting.

We are excited about it, we just launched it this month, some of the trends that were driving it is that need to get kind of a single view of the investor's financial life all in one spot, and making sure that it's holistic, that it's not just the investment side, but that includes planning and net worth. And it includes a lot of interactive elements within the portal as well.

It's important for us that we're able to support all parts of the wealth journey, from both the advisor and the client side, so whether you're in more of the mass market, or you're all the way up to ultra high net worth.

Alongside our client portal, it actually comes with what we call is the configuration tool, but that it controls all of the pages within the portal so that if you do have somebody that's more of a millennial or Gen Z that you want to give more access to things like spending and documents and budgeting, you can do that for them. But then maybe focus your energy on the high net worth for estate planning and Cash Flow Planning.

So you can really decide how you want to segment your users and then apply these templates out to them. So it's extremely configurable, because you're right, not everybody's wealth journey, or where they're at is the exact same. So really making sure that it's a very personal experience for them.

Investors lives are so complicated these days, they have accounts at their banks, they have crypto, they have accounts with their financial advisors, you have nerd wallet, robo advisors, so it's spread out everywhere. And when you have assets and liabilities that are spread out everywhere, it's super important that we're able to bring them back together so that when that person comes to look at their financial life, they can see a tally of everything that makes up it to build out that network.

So we have aggregation services, as you know, within the Investment ecosystem, but from an API side, what we're really excited about is investments really leading the way for this open banking movement that's happening across the world. And that really gives the power back the consumer to control how and where their, their data from a financial institution goes. And so investor was on the ground in Europe for what's known as the PSD to regulated countries. rolling that out. We're in Australia now. And we're in the heart of signing data access agreements in the US to get API access to consumers data. So no longer are we necessarily relying on the screen scraping elements of aggregation services, but we're actually using those open banking API's that are much more secure and much more reliable as well.