HD Vest, Envestnet Partner on Tools to Help Advisers Grow Their Business

These include model management, proposal generation, unified managed accounts, overlay models, online reporting and the consolidation of plan data.

HD Vest and Envestnet have partnered to expand their suite of technology solutions that HD Vest offers to its independent advisers to help them grow their business.

“As the industry continues to evolve, our solutions and services can be personalized to help advisers of any practice meet the needs of their clients,” says John Yackel, executive managing director and head of institutional business development at Envestnet. “By working with HD Vest and its adviser partners to help them optimize their practice operations, we can empower them with the tools to strengthen client outcomes as well as meet their business goals.”

Independent professionals who are part of the HD Vest network can now access Envestnet’s tools for model management, proposal generation, unified managed accounts, overlay models and online reporting, as well as investment policy rules that allow advisers to see if their current allocations in client accounts are within risk parameters, through HD Vest’s platform.

“Our mission is to give independent advisers a holistic view of each client’s overall financial picture, which is enhanced by Tax Smart Investing insights—a key industry differentiator,” says Bob Oros, CEO of HD Vest Financial Services. “Envestnet’s solutions are the latest additions to our ecosystem of the best technology and tools from across the industry, which advisers can use to start more holistic financial services conversations with clients.”

In addition, several Envestnet solutions have been branded for HD Vest-affiliated advisers. These include:

VestAdvisor Discretion/Non-Discretion: A fully customizable Adviser as Portfolio Manager (APM) program for a variety of investment options for creating, managing and implementing portfolio models.

VestAdvisor Select: A wrap-fee program managed by the HP Vest Advisory Services portfolio management team, and comprised of mutual funds and exchange-traded funds. It employs a disciplined approach to the construction of client investment portfolios focused on specific client goals.

VestStrategist: A discretionary unified managed account (UMA) program consisting of separately managed account (SMA) models that have gone through HD Vest’s rigorous due diligence process.

In addition, HD Vest advisers serving retirement plan sponsors can access the Compliance Advantage platform from Envestnet | Retirement Solutions (ERS), a majority owned subsidiary of Envestnet, for aggregating and consolidating data from the HD Vest product suite.

The ERS Compliance Advantage solution will enable home office and advisers in the HD Vest network to streamline the aggregation of plan data, and view this information in one centralized location. The consolidated plan-level data can provide advisers with insight and intelligence that help them better manage their retirement businesses.