Turnkey asset management platform and adviser technology giant Envestnet is making a minority investment in registered investment adviser network Dynasty Financial Partners to launch a new product it calls the Advisor Services Exchange.
With the Exchange, Envestnet clients can access some of the business development support Dynasty provides its members, including access to growth capital, business management tools, marketing and outsourced chief financial officer services.
When asked for details on the investment, a spokesperson on behalf of Envestnet said, "This is a non-material minority investment for Envestnet, and we don’t have further details to share."
By offloading business development tasks, Envestnet head of wealth strategy, Aaron Bauer, believes the Exchange will help advisers focus more on working with clients.
"Through the Advisor Services Exchange, we believe Envestnet's clients will be able to save time on day-to-day business management activity, and bolster their services to deliver comprehensive, unified advice," Mr. Bauer said in a statement.
The firms did not specify when the exchange would launch, or how much it will cost advisers.
Envestnet serves more than 100,000 advisers at some of the largest banks, broker-dealers and RIAs. Dynasty counts 45 independent RIAs on its network, managing a cumulative $40 billion in client assets.
The two firms have long enjoyed a close partnership.
"When we founded Dynasty over nine years ago, Bill Crager and Envestnet were there for us in the early days and have been with us every step of the way as we have grown the business," Dynasty CEO Shirl Penney said in a statement. "I am looking forward to partnering with Envestnet, a firm that stands alone as a pioneer in wealth management technology and investor intelligence."
Envestnet also announced the addition of O.N. Investment Management Co. to its Insurance Exchange, which provides advisers access to annuities on the Envestnet wealth management platform, and added TD Bank,
Nationwide, First Citizens Bank and LightStream (a division of SunTrust) to its Credit Exchange, which enables advisers to offer pre-qualified loans to clients.
Driven by robust transaction activity amid market turbulence and increased focus on billion-dollar plus targets, Echelon Partners expects another all-time high in 2025.
The looming threat of federal funding cuts to state and local governments has lawmakers weighing a levy that was phased out in 1981.
The fintech firms' new tools and integrations address pain points in overseeing investment lineups, account monitoring, and more.
Canadian stocks are on a roll in 2025 as the country prepares to name a new Prime Minister.
Carson is expanding one of its relationships in Florida while Lido Advisors adds an $870 million practice in Silicon Valley.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
