Klein Decision specializes in financial analysis-based participant advice solutions. The firms hope to integrate Klein’s participant educational tools into ERS’s product and service offerings for retirement advisers and sponsor clients, which include investment fund research, compliance assistance, practice management tools, and data aggregation.
Babu Sivadasan, group president of ERS, says the merged product lines will allow the firms to offer “intelligent managed account solutions for plan participants.”
“This acquisition significantly advances our ability to work with key recordkeeping partners in delivering a truly integrated participant experience to advisers and their clients,” Sivadasan explains.
Robert Padgette, founder of Klein Decisions, becomes senior vice president of ERS as part of the acquisition. He says the acquisition by Envestnet should result in advanced lifetime income strategies driven by both behavioral and financial analysis.
More information is available at www.envestnet.com.