Wealth Industry's Premier Advisor Tech Conference - Envestnet Elevate 2024 - Kicks off in Phoenix
Envestnet has launched its primary event of the year, Elevate 2024, in Phoenix, Arizona from May 13-15. The conference gathers nearly 2,000 advisors, RIAs, enterprises, and fintechs to explore growth and productivity enabled by Envestnet's Wealth Management Platform.
The event features over 50 breakout sessions, keynote presentations, educational tracks, and a new focus on retirement planning. Keynote speakers include notable figures such as Bill Crager and Ian Bremmer.
Special themes of the event include technology consolidation, integrated workflows, customizable investment solutions, and personalized client services.
Envestnet also announced a new partnership with Salesforce aimed at unifying financial planning experiences for advisors using Salesforce’s Financial Services Cloud. The conference aims to improve advisor productivity and client outcomes through integrated technology solutions.
- Nearly 2,000 advisors and fintech professionals attended, indicating high interest and engagement.
- Over 50 educational breakout sessions were offered, adding value through continuing education credits.
- Introduction of a dedicated retirement planning track reflects market demand and diversification.
- New partnership with Salesforce promises to enhance financial planning experiences for advisors.
- Customization capabilities for advisors, including tax management and direct indexing, were highlighted.
- Integration of machine learning insights into the Wealth Data Platform increases personalization for clients.
- 47% year-over-year increase in advisor usage of Envestnet's insights indicates growing platform engagement.
- No specific financial performance metrics, such as revenue or profit figures, were disclosed.
- Heavy reliance on partnerships and integrations could pose risks if these partnerships fail or underperform.
- The focus on high-net-worth clients may neglect broader market segments, potentially limiting growth.
Preeminent industry event hosts nearly 2,000 Advisors, RIAs, Enterprises and Fintechs who Seek Better Client Outcomes, Growth and Productivity through Envestnet's Wealth Management Platform
"Since Envestnet's founding 25 years ago, the company's singular vision has remained the same – to help advisors deliver better advice and value to their clients – through the best technology, intelligence and solutions," said Tom Sipp, Executive Vice President, Business Lines for Envestnet. "Elevate is the place where advisors, partners and clients all come together to see this vision come to life – uncovering ways to grow, efficiently manage and scale their business through a deeply integrated, end-to-end technology platform."
Elevate 2024 boasts high-profile executive presentations and guest speakers, more than 50 breakouts, including opportunities for continuing education credit, multiple audience tracks for advisors and home offices, and new this year, a dedicated track for retirement.
Featured Presentations
- Envestnet Keynotes
- Bill Crager, Strategic Advisor, Co-Founder and Former Chief Executive Officer of Envestnet
- Tom Sipp, Executive Vice President, Envestnet Business Lines
- Dana D'Auria, Co-Chief Investment Officer and Group President, Envestnet Solutions
- Molly Weiss, Group President of Envestnet Wealth Management Platform
- Guest Speakers
- Michael Arone, Chief Investment Strategist, State Street Global Advisors
- Ian Bremmer, President, Eurasia Group & GZERO Media
- Angela Duckworth, Best-selling author and psychologist
- Charles Duhigg, New York Times best-selling author
- Edmund F. Murphy III, Chief Executive Officer of Empower
- Rick Rieder, CIO of Global Fixed Income and Head of Global Allocation, BlackRock
- Adam Spector, Head of Global Distribution, Franklin Templeton
- Vadim Zlotnikov, Head of Fidelity Institutional, Fidelity
"Elevate showcases the unique opportunities made available to advisors on our Wealth Management Platform that are designed to help increase productivity and efficiency, and to deliver more personalized solutions to their clients, at scale," said Molly Weiss, Group President of Envestnet's Wealth Management Platform. "Through our deeply connected ecosystem, we're meeting the advisor where they do business – providing deeply integrated workflows, advanced insights and a unified experience that allows them to serve their clients in a more holistic way."
Key session themes at Elevate include technology consolidation and integrated workflows; delivering customization of investments and technology at scale; achieving greater productivity in advisors' practices; serving the high-net-worth market with advanced solutions and insights; and a full track of retirement breakouts on how advisors can incorporate retirement into their practices.
- Technology Consolidation
Findings from Envestnet's 2024 Market Intelligence Survey reinforce a trend that Envestnet already sees playing out among its clients and partners -- while most advisors currently assemble their technology stacks with point solutions, an all-in-one technology platform that serves most or all their business needs is by far their winning choice.
As Catherine Knopf, Senior Vice President of Advisory Consulting at Osaic shares, "The Envestnet platform is integrated with all of our other technical solutions and provides a platform for all of our investment management resources in one place."
At Elevate, advisors will witness and demo the wide array of capabilities configurable on the Envestnet Wealth Management Platform which provides the integrated and seamless workflow advisors look for in a technology partner.
Envestnet client and Senior Consultant at LibertyFi, John Brooks, shares his experience with consolidation through the Envestnet Wealth Management Platform, "Envestnet has great integrations. They have a lending integration. They have access to alternatives. They have a phenomenal client portal. It's one of the few software packages that really encompasses everything."
At Elevate, Envestnet unveils a partnership with Salesforce to offer a connected financial planning experience for Envestnet MoneyGuide customers using Salesforce's Financial Services Cloud (FSC). The goal is to provide a unified platform for wealth advisors, addressing key pain points like operating across multiple systems and data disparity between CRM and financial planning platforms.
Carly Maher, Head of Wealth Management Strategy and Business Operations at Park Avenue Securities, an Envestnet client, shares that "Integration is really key and is important for us when we think about buy vs. build from a technology standpoint. When we buy, we want things to be integrated, and Envestnet has done a really great job of integrating solutions into their platform so that we don't have to cobble together technology resources to solve for the same problems."
- Opportunities for Customization
Today's advisors are tasked with expanding their solution set to provide a range of options for clients – holistically serving them while differentiating their business. Customization can also serve as an engine for growth, as separately managed accounts (SMAs) and direct indexing assets are expected to outpace mutual funds and ETFs between 2022 and 2026.1
"Envestnet enables us to have a seamless process that's repeatable…We understand the goals of the client, and from there, with the help of the research investment team at Envestnet, we're able to build the customized portfolios," Alexandre Quantin, Partner at USAFrance Financials and Park Avenue Securities Client.
Elevate sets the stage for advisors to learn about customizable platform capabilities and integrations, including tax management solutions, direct indexing, insurance, credit, retirement solutions, and more. Enhancements include a new "Unleashing Overlay" initiative that seeks to reduce accounts submitted not in good order; provide transition analysis integration to the digital proposal workflow; allow ease of uploading cost basis information; deliver enhanced account reporting; and offer tax loss harvesting of single sleeve mutual funds and ETFs. Envestnet is also expanding its partnership with iconik, allowing advisors to personalize proxy voting for their clients, as new voting disclosure rules take effect this summer.
In addition, new machine learning insights have been added to Insights Engine, now directly within the Wealth Data Platform Dashboard – increasing personalization capabilities for advisors, with opportunities to identify Money in Motion, Tax Overlay Propensity, Wealth Consolidation, and more. Generating more than 20M insights daily across approximately 100 use cases, Envestnet has seen a47% year-over-year increase in advisor usage of insights.
- A Focus on High Net Worth (HNW) Investors
It's expected that by 2025 there will be over 8.8 million HNW individuals in theU.S ., a33% increase from 20222. HNW and UHNW individuals and households present a unique opportunity for financial professionals looking to grow their business. As such, many advisors (32% ) are looking to add or place greater emphasis on HNW and Ultra-HNW services in the next year, as indicated by Envestnet's 2024 Market Intelligence Survey.
Michael Maresca, CEO at National Financial Network and a partner of Envestnet client Park Avenue Securities, shares his thoughts on the growing number of high-net-worth clients his advisors are supporting. "Nuance is important, especially for these higher net worth clients that are looking for customization."
At Elevate, advisors can develop a better understanding of today's diverse group of high-net-worth individuals – and what it takes to serve this growing population well through technology and solutions.
- Retirement
As the financial services industry looks to deliver more holistic advice, the integration of retirement planning and wealth management has become increasingly important for advisors. This emerging trend is fueled by the necessity to meet the changing needs of an aging population, aiming to secure and enhance their financial well-being into retirement.
Leaders from Envestnet, Empower and Franklin Templeton will explore how financial advisors can present retirement plan sponsors with an efficient, cost-effective solution that includes fiduciary and investment support while also helping businesses provide an added benefit to their employees.
Retirement breakout sessions will include discussions on rollovers; solutions for small business owners; retirement market intelligence and trends; bridging retirement planning with wealth accounts, and more.
Breakout sessions on these topics and others can be found on the Elevate Agenda.
Envestnet thanks its Elevate Premier sponsors BlackRock, Fidelity, Franklin Templeton, and State Street Global Advisors SPDR, who along with its Platinum sponsors Alliance Bernstein, Janus Henderson Investors, Northern Trust and Nuveen; and Gold sponsors Empower, First Trust, MFS Investment Management, Pimco, Principal Asset Management, Russell Investments, Vanguard, and William Blair; 76 exhibitors and seven technology partners that help make Elevate an unforgettable and industry-leading experience.
For more information, visit www.Envestnet.com/Elevate. For live updates during Envestnet Summit 2024 – Elevate, follow us on social media on LinkedIn, Twitter, and Instagram, and join our conversation by using hashtag #ENVElevate.
About Envestnet
Envestnet is helping to lead the growth of wealth managers and transforming the way financial advice is delivered through its ecosystem of connected technology, advanced insights, and comprehensive solutions – backed by industry-leading service and support. Serving the wealth management industry for 25 years with more than
Envestnet refers to the family of operating subsidiaries of the public holding company, Envestnet, Inc. (NYSE: ENV). For a deeper dive into how Envestnet is shaping the future of financial advice, visit www.envestnet.com. Stay connected with us for the latest updates and insights on LinkedIn and X (@ENVintel).
Envestnet did not directly compensate any client quoted herein for participating in interviews or providing a testimonial. However, Envestnet covered costs associated with Elevate conference marketing materials, (including client interviews) which may be repurposed by LibertyFi, Osaic or Park Ave. Securities for their own advertising purposes, at their discretion and cost.
1 Cerulli
2 Capgemini Report
MEDIA CONTACTS:
Amy Norcini
Envestnet
amy.norcini@envestnet.com
Andrew Jennings | JConnelly for Envestnet
envestnetpr@jconnelly.com
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SOURCE Envestnet, Inc.
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