FIRST COMMAND PARTNERS WITH ENVESTNET TO STRENGTHEN ITS SERVICE OFFERING FOR MILITARY FAMILIES

Rhea-AI Summary

Envestnet partners with First Command Financial Services to provide financial advisors access to its integrated financial ecosystem.

Positive

• First Command's financial advisors will have access to Envestnet's enhanced reporting and portfolio management capabilities, CRM integration, tax overlay optimization, financial planning tools, and data aggregation.
• Envestnet's platform allows First Command advisors to offer highly personalized Unified Managed Account (UMA) programs for their clients.
• First Command advisors can leverage insights drawn from aggregated assets of $5.4T to inform clients' financial plans and identify next best actions.
• The partnership aims to provide a cohesive financial coaching and solutions experience for clients throughout all life stages.

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• None.

First Command Advisors To Access Full Financial Wellness Ecosystem Including: Data Aggregation, Financial Planning, Enhanced Reporting, Portfolio Management, CRM Integration, and Tax Overlay Services To Keep Our Nation's Military Families Financially Squared Away

BERWYN, Ill., Oct. 16, 2023 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV) today announced a partnership with First Command Financial Services, Inc., which will provide its network of financial advisors access to Envestnet's integrated financial ecosystem including its enhanced reporting and portfolio management capabilities, CRM integration, next-level personalization including tax overlay optimization, financial planning tools through Envestnet|MoneyGuide, and data aggregation through Envestnet | Yodlee.

"Envestnet has all the capabilities, solutions, and tools that we need to serve our military families," said First Command's National Director of Advisor Operations John Osarczuk. "It is clear that they are the leading platform in this space, and leveraging Envestnet provides First Command Financial Advisors with the technology and solutions they need to better serve clients through all stages of their financial lives – doing so efficiently and at scale. The financial conversations our advisors have with clients, and the challenges they solve for, are complex. The ability to view a military family's complete financial picture in one place makes it easier for advisors to address their needs at every point in their financial journey."

First Command's Chief Marketing and Client Experience Officer Kellie Richter noted "the benefit to our clients is providing cohesive financial coaching and solutions experience throughout all life stages."

Once utilizing the Envestnet platform, First Command's financial advisors will have the technology and services they need to offer highly personalized Unified Managed Account (UMA) programs for their clients. By applying the full strength of the Envestnet ecosystem, First Command advisors will be able to access insights drawn from aggregated assets of $5.4T in consumer spending and deposits, allowing them to know how a similar individual makes, spends and invests money – and importantly – providing actionable insights that help advisors identity next best actions for a client. These insights can then be leveraged within the MoneyGuide financial planning platform to help inform clients' financial plans. The insights generated through the planning process can easily be actioned through the Envestnet platform, and may be enhanced by services such as tax overlay and Envestnet's reporting capabilities.

"We're seeing more and more organizations looking to consolidate and streamline both the technology and solutions their advisors utilize to provide a unified client experience. First Command is doing so by tapping into the entirety of the Envestnet ecosystem as a single and seamless platform that offers greater efficiencies and scale for their business," said Tom Sipp, Executive Vice President, Envestnet Business Lines. "We're thrilled First Command has chosen to embrace the breadth and depth of what Envestnet can bring to their financial advisors and the military families they serve."

First Command Financial Services has been helping military service members and their families plan for and pursue financial security for more than 60 years. Four out of five of the organization's financial advisors are themselves veterans or military spouses. First Command is based in Fort Worth, Texas, and offers fully complimentary financial plans for active military service members and their families via more than 170 offices around the world, many of which are located near U.S. military installations.

To learn more about the Envestnet ecosystem, and the difference it can make, please visit https://www.envestnet.com/financial-institutions. 

About Envestnet

Envestnet is transforming the way financial advice is delivered through an ecosystem of technology, solutions, and intelligence. By establishing the connections between people's daily financial decisions and long-term financial goals, Envestnet empowers them to make better sense of their finances and live an Intelligent Financial Life™. With more than $5.4 trillion in platform assets—more than 107,000 advisors, 16 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs, and thousands of companies, depend on Envestnet technology and services to help drive better outcomes for their businesses and for their clients.

Envestnet refers to the family of operating subsidiaries of the public holding company, Envestnet, Inc. (NYSE: ENV). For more information, please visit www.envestnet.com, and follow us on LinkedIn and X (@ENVintel).

About First Command

First Command Financial Services and its subsidiaries, including First Command Brokerage Services, First Command Advisory Services and First Command Bank, coach our Nation's military families in their pursuit of financial security. Since 1958, First Command Financial Advisors have been shaping positive financial behaviors through face-to-face coaching with hundreds of thousands of client families. To learn more, visit www.firstcommand.com.

First Command Financial Services and Envestnet are separate and unaffiliated firms. This release should not be construed as a recommendation or endorsement of any particular product, service, individual or firm.

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SOURCE Envestnet

FAQ

What capabilities and tools does Envestnet provide to First Command financial advisors?

Envestnet provides First Command financial advisors access to its integrated financial ecosystem, including enhanced reporting and portfolio management capabilities, CRM integration, tax overlay optimization, financial planning tools, and data aggregation.

What can First Command advisors do with the Envestnet platform?

First Command advisors can offer highly personalized Unified Managed Account (UMA) programs for their clients by utilizing the Envestnet platform.

How can First Command advisors leverage insights from Envestnet?

First Command advisors can leverage insights drawn from aggregated assets of $5.4T to inform clients' financial plans and identify next best actions.

What is the goal of the partnership between Envestnet and First Command Financial Services?

The goal of the partnership is to provide a cohesive financial coaching and solutions experience for clients throughout all life stages.