Envestnet has launched Wealth Trading, a redesigned platform that unifies portfolio management, trade creation, order review, execution and auditing within a single workflow.
The platform is available to financial advisers and enterprise wealth management firms through Envestnet. It replaces older trading experiences with an interface developed using feedback from advisers and institutional clients.
Envestnet designed Wealth Trading to reduce the number of steps required to complete everyday portfolio tasks. The platform also provides greater visibility into trade status, historical activity and actions taken during each stage of the trading process.
All supported accounts can be managed through one platform, giving users access to a consistent collection of Envestnet trading capabilities. Wealth management firms can also manage adviser permissions and access rights across their organizations.
The Portfolio Explorer interface allows users to review accounts, customize layouts, filter information and create working lists. Advisers can continue navigating the platform while data and trading processes operate in the background.
Wealth Trading supports nine primary trade actions: rebalancing, trading to a target, quick trades, investing cash, liquidating portfolios, raising cash, worksheet trading, harvesting gains or losses and uploading trade instructions.
Portfolio rebalancing adjusts holdings to restore a desired asset allocation. Tax-loss or gain harvesting involves selling investments strategically to manage taxable gains and losses while considering the client’s broader portfolio objectives.
The Order Review function organizes proposed trades into scenarios and maintains an audit trail for compliance and supervisory purposes. Advisers can group portfolios, approve transactions and transfer completed scenarios to Order Management.
Worksheet Trading enables users to review and modify proposed orders before execution. Order Management then serves as the central location for monitoring approved transactions and grouping them by portfolio, security or execution status.
Action History tracks submitted scenarios and confirmations received from custodians. Trade History provides information about reconciliation, order matching, portfolio sleeves and unscheduled transactions.
The platform has completed phased testing and is already supporting live trades at independent registered investment advisers and large wealth management firms. Envestnet said one national firm deployed the platform to several thousand advisers in less than three months.
Envestnet is providing structured onboarding, dedicated implementation support and self-paced training. The company manages approximately $7 trillion in platform assets and works with more than one-third of financial advisers.
KEY QUOTES:
“Wealth Trading represents a significant advancement in the advisor trading experience. Built in close partnership with our clients, it delivers the speed, flexibility and transparency firms need to support increasingly sophisticated trading operations while creating a more intuitive experience for advisors.”
Andrew Stavaridis, Chief Relationship Officer of Envestnet
“Trading sits at the heart of the advisor-client relationship, yet too often technology introduces unnecessary complexity.”
“Wealth Trading was designed to remove friction, reduce complexity, and give advisors a faster path from decision to execution. Whether they’re managing a single account or thousands of portfolios, advisors now have a trading experience built for speed, transparency and control.”
Tyler Davidson, Head of Product Management at Envestnet
