Envestnet UMA combines multiple investment products into one account, enabling RIAs to simplify account maintenance while delivering portfolio options that are tailored to client risk profiles, needs, and objectives, National Advisors Trust announced.
National Advisors will also provide its trust and custody platform, AdvisorDesk, to existing Envestnet adviser firms who need trustee or Agent for Trustee services. “For advisers who want to use Envestnet for trust accounts, we can now support that capability through National Advisors Trust’s custody and trust services,” said Lori Hardwick, Envestnet’s Executive VP, Advisory Services.
Highlights of the Envestnet UMA include:
- Build customized asset allocation models using any combination of 27 asset classes; models can be saved and applied to multiple accounts.
- Access to tools that make recommendations to help determine the appropriate asset allocation for their clients.
- Create customized portfolio models with over 4,000 investment products to fund each asset class.
- Separate accounts, mutual funds and ETFs can be combined in a single account; one registration and one 1099 form eliminate the need for multiple sets of paperwork.
- Block trading across accounts reduces overall fees, as well as trading and custody fees for equity trades and for ETF-heavy SMAs and UMAs; it also eliminates the need to execute multiple orders, potentially reduces execution risk and improves price certainty.
- Systematic rebalancing, coordinated tax harvesting, and single-schedule fee billing reduce advisers’ administrative burden. Trades and rebalancing are conducted by Envestnet, who acts as the Overlay Manager.