Envestnet Names Leader of Adviser-Directed Offerings

Envestnet has brought aboard James Patrick, former co-head of U.S. Distribution for Allianz Global Investors, to head Envestnet’s managed account program.

As the managing director for Envestnet’s Advisor Managed Programs, Patrick will lead the company’s effort to distribute and enhance its adviser-directed offerings, the company said. “He has a long history of presenting institutional-quality strategies to the adviser marketplace,” said Bill Crager, president of Envestnet.

Envestnet said it envisions further growth in the adviser managed account area by adding  macro-economic and asset allocation guidance delivered by institutional asset allocation strategists.

“Overall, investor confidence in the financial services industry, in the markets, and in their asset allocation beliefs are on shaky ground,” said Patrick. “Now is the time for advisers to reaffirm their value proposition and deliver solutions that put clients in a position to get back on track to reach their goals.”