Envestnet Launches Custom Strategies with Four Mega Asset Managers

Wealthtech giant Envestnet announced plans to expand its partnerships with asset managers BlackRock, Franklin Templeton, State Street Global Advisors and Fidelity Investments by improving its advisor users’ capacity to offer bespoke investment strategies.

The strategies will be made available to Berwyn, PA-based Envestnet’s network of over 109,000 advisors. Personalized direct index solutions, advanced models for high-net-worth clients, and tailored advisory services for accounts over $1 million are among the anticipated offerings.

“By bringing these solutions from asset managers into our ecosystem, we believe advisors will be able to capture share and serve more of their clients’ unique needs,” Tom Sipp, EVP, Envestnet business lines, said.

The partner firms will commit to planning and sales efforts to deliver personalization and unified managed accounts (UMA) capabilities.

“Expanding our relationship with Envestnet furthers our goal of serving as an integral partner to advisors, helping them access solutions to meet the unique needs of high-net-worth investors in both public and private markets, and offering them customizable options to reflect client preferences across taxes and values,” said Jaime Magyera, co-head of the U.S. wealth advisory business at BlackRock, which owns a non-controlling interest in Envestnet’s parent company, Envestnet, Inc.

Envestnet manages $227 billion in assets under its UMA structure, accounting for over half of its total assets of $452 billion as of March 31, 2024.