Envestnet Offers Newly Enhanced Reporting Tools That Provide a Truly Holistic Snapshot of Client Wealth

The integrated solution provides family offices and their wealth managers with a unified platform to oversee complex family investment portfolios

CHICAGO--(BUSINESS WIRE)--There are an estimated 3000 or more single and multi-family offices across the US overseeing upwards of $750 billion in investable client assets.* Today, Envestnet announced new reporting capabilities that provide wealth managers overseeing family office investments the ability to offer their clients a personalized, comprehensive view of their total invested wealth. With the new enhancements, the wealth manager can report on assets held at multiple custodians, access partnership accounting tools, and create customized online and printed reports for specific points of view that are based on daily updated and fully reconciled investment account data.

“Today's wealthiest families have access to a broad set of investment offerings. Investment theory has become a challenge of implementation and support”

“With these key enhancements, the wealth manager is now equipped to effectively manage family office investments through a single, unified platform,” says Andrew Rose, Senior Vice President, Envestnet who is leading the firm’s family office initiative.

“Adding these specific reporting capabilities allows us to service effectively a whole new market segment,” Rose continues. “Envestnet is now positioned to deliver a comprehensive reporting solution to the family wealth manager situated within any type of business — independent RIAs, single and multi-family offices, brokerage firms, banks and trust companies — that can tightly integrate investment management with other financial services including financial planning, philanthropy, tax planning, bill payment, and more.”

As a leading provider of wealth advisory solutions to more than 10,000 financial advisors, Envestnet offers the family wealth manager robust capabilities that speak specifically to the needs and challenges that they face including daily gathering and reconciliation of investment account data, robust and highly personalized reporting capabilities including detailed views into allocations of Family Limited Partnerships and customized account grouping, benchmarking and report views, and a broad range of investment products and solutions.

“Today's wealthiest families have access to a broad set of investment offerings. Investment theory has become a challenge of implementation and support,” says Bill Crager, President, Envestnet. “Envestnet has enhanced its platform to make implementation, ongoing management and robust, comprehensive performance reporting possible. In essence, we have made best ideas and theory far more practical."

* “US Family Offices: Best Practices in Providing Financial Services to America’s Most Privileged Households”, Celent – September 29, 2008 and “Multi-Family Offices Face Growth Hurdles”, Fundfire.com – October 2, 2008

ABOUT ENVESTNET ASSET MANAGEMENT

Envestnet is an advisor’s gateway for expert wealth advisory solutions. Through a unified technology platform, the company offers a broad range of investment products as well as fee-based services and solutions that include extensive reporting capabilities and front-, middle-, and back-office administrative tools to the independent financial advisor.

Envestnet delivers unparalleled practice and portfolio management support, empowering advisors to create customized investment solutions that are able to meet their clients’ unique investment needs. We leverage the expertise of premier asset managers and defined asset allocation strategies as well as offer financial advisors ongoing investment manager research and portfolio monitoring provided by PMC, the investment consultancy arm of Envestnet.

Our proprietary technology platform is geared towards reducing administrative demands as well as providing tools and resources to help advisors spend more time focusing on important client relationships.

Envestnet is headquartered in Chicago with offices in Denver, Los Angeles, New York, Silicon Valley and Trivandrum, India. The firm has $81 billion in total assets served and more than 650,000 investor accounts.**

** Data includes assets under management and administration as of 9/30/2008