Products November 22, 2010

Envestnet Introduces Wealth Management Platform

Working off the “unified managed household” (UMH) advice model, Envestnet says it has created the industry’s first advisory platform with integrated analysis, guidance, and reporting features.  
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In a press release, Envestnet says it sees a growing trend for advisers to favor the UMH model, and the Envestnet platform offers data aggregation that allows advisers to assemble a complete picture of the client’s wealth, including investable assets (those managed by the adviser) as well as external assets (those managed by other providers).

The platform’s features are designed to help advisers build and maintain client trust by making the portfolio design and management process more streamlined and transparent. To guide fiduciary decision-making, the Envestnet platform offers an interactive feature called Fiduciary Oversight Notes, or “FONs.”  FONs are virtual “sticky notes” that help the adviser document his or her decision making and maintain a record of the fiduciary process.

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Other features of the Envestnet platform include:

  • Portfolio Analysis: The platform allows an adviser to conduct diagnostics on a portfolio for greater transparency, perform “what-if” scenarios to help assess the probable success of a strategy’s ability to meet client goals, and view side-by-side comparisons of a proposed investment versus a target allocation.   
  • Filter and Comparison Tools:  The platform provides access to objective investment research on a broad list of asset managers, including access to 90% of the Cerulli top 100 managers of separately managed accounts, and more than 35 strategists under three broad categories:  strategic, tactical, and dynamic.  Filter tools allow advisers to identify only those investment products that meet their specified criteria.  Comparison tools allow advisers to see comparisons of products either graphically – by performance, risk-return, product sector, holdings, or asset allocation – or by investment profile.
  • Advanced Proposal Generation:  The platform offers capabilities to build more comprehensive investment proposals that incorporate UMH capabilities and mechanisms for fiduciary oversight, and allow advisers to perform advanced portfolio analysis on current and proposed investment strategies.
  • New Investment Solutions:  The platform offers the PMC Singer Partners Edge Portfolio, an alternative investment strategy provided via a relationship with Singer Partners, and a solution with eCD Market to offer the ability to use CDs for client’s cash equivalent needs.
Deals & People November 22, 2010

Stevenson Appointed to Nationwide Retirement Sales Post

Nationwide Financial Services has tapped Eric Stevenson as senior vice president and chief sales officer for its public-sector retirement plans subsidiary, Nationwide Retirement Solutions (NRS).
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A Nationwide news release said Stevenson will be responsible for leading distribution teams for public-sector retirement plan sales, Participant Solutions Center, managed accounts and bundled retirement plan sales. He will also lead the management of NRS’ key customer and business partner relationships.

Stevenson joined Nationwide in 2006 and most recently served as vice president of marketing for the retirement plans business, according to the company. His background includes time with Warner-Lambert, leading a sales force of 500 as the company’s national director of retail sales. Prior to joining Nationwide, Stevenson held various leadership roles in marketing and brand management with companies such as Warner-Lambert, The Quaker Oats Company, and Xerox.

Stevenson holds a master’s in business administration from the J.L. Kellogg Graduate School of Management at Northwestern University and an undergraduate degree in business and finance from the University of Oklahoma.

Stevenson replaces Cain Hayes who recently left Nationwide for Aetna to serve as the head of its Public & Labor business, the company said.

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