CHICAGO and IRVING, TEXAS—September 13, 2018 —HD Vest, the pioneer of Tax Smart Investing and a wholly owned subsidiary of Blucora, Inc. (NASDAQ: BCOR), has partnered with Envestnet, Inc. (NYSE: ENV) to expand the suite of progressive technology solutions that its independent advisors can utilize to manage and grow their practices.
“As the industry continues to evolve, our solutions and services can be personalized to help advisors of any practice size meet the needs of their clients,” said John Yackel, Executive Managing Director and Head of Institutional Business Development at Envestnet. “By working with HD Vest and its advisor partners to help them optimize their practice operations, we can empower them with the tools to strengthen client outcomes as well as meet their business goals.”
HD Vest provides comprehensive financial services solutions and other support to a network of independent advisors. Independent professionals who are part of the HD Vest network can now access Envestnet’s tools for model management, proposal generation, unified managed accounts (UMAs), overlay models, and online reporting, as well as investment policy rules allowing investment advisor representatives to see if the current allocations in client accounts are within risk parameters, through HD Vest’s platform.
“Our mission is to give independent advisors a holistic view of each client’s overall financial picture, which is enhanced by Tax Smart Investing insights—a key industry differentiator,” said Bob Oros, CEO of HD Vest Financial Services. “Envestnet’s solutions are the latest additions to our ecosystem of the best technology and tools from across the industry, which advisors can use to start more holistic financial services conversations with clients.”
Several Envestnet solutions have been customized and branded for HD Vest-affiliated advisors. They include:
— VestAdvisor Discretion/Non-Discretion A fully customizable Advisor as Portfolio Manager (APM) program with a variety of investment options for creating, managing, and implementing portfolio models.
— VestAdvisor Select A wrap-fee program managed by the HD Vest Advisory Services® portfolio management team, and comprised of mutual funds and exchange-traded funds, which employs a disciplined approach to the construction of client investment portfolios focused on specific client goals.
— VestStrategist A discretionary Unified Managed Account (UMA) program consisting of separately managed account (SMA) models that have gone through HD Vest’s rigorous due diligence process.
In addition, HD Vest advisors serving retirement plan sponsors can now access the Compliance Advantage™ platform from Envestnet | Retirement Solutions (ERS), a majority-owned subsidiary of Envestnet, for aggregating and consolidating data through the HD Vest product suite.
The ERS Compliance Advantage solution will enable home office and advisors in the HD Vest network to streamline the aggregation of plan data, and view this information in one centralized location. The consolidated plan-level data can provide advisors with insights and intelligence that help them better manage their retirement businesses.
For more information about the ERS Compliance Advantage platform, please visit: https://envestnetrs.com/compliance-advantage.
Envestnet, Inc. (NYSE: ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet’s unified technology enhances advisor productivity and strengthens the wealth management process. Envestnet empowers enterprises and advisors to more fully understand their clients and deliver better outcomes.
Envestnet enables financial advisors to better manage client outcomes and strengthen their practices. Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. Envestnet | Tamarac provides leading rebalancing, reporting, and practice management software for advisors. Envestnet | Retirement Solutions provides an integrated platform that combines leading practice management technology, research, data aggregation, and fiduciary and managed account solutions.
More than 88,000 advisors and more than 3,500 companies including: 15 of the 20 largest U.S. banks, 43 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisers, and hundreds of Internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences, and help drive better outcomes for enterprises, advisors, and their clients.
About HD Vest Financial Services
Since its inception in 1983, HD Vest Financial Services® has supported an independent network of tax and non-tax professionals who provide comprehensive financial services including securities, insurance, money management services, and banking solutions. We have over 3,700 independent contractors, who manage over $45 billion in assets for individuals, families, and small businesses in all 50 states. Ranked as one of the top 15 independent broker-dealer firms, we know what it takes to make your practice flourish.
Blucora, Inc. (NASDAQ: BCOR) is a leading provider of technology-enabled financial solutions to consumers, small businesses, and tax professionals. Our products and services in tax preparation and wealth management, through TaxAct and HD Vest, help consumers manage their financial lives. TaxAct is an affordable digital tax preparation solution for individuals, business owners, and tax professionals. HD Vest Financial Services® supports an independent network of tax professionals who provide comprehensive financial planning solutions. For more information on Blucora or its businesses, please visit www.blucora.com.
As of June 30, 2018
Think Advisor 2016 Broker-Dealer Reference Guide, which measured/ranked the top 25 independent broker-dealers by annual revenue.