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HD Vest Integrates Envestnet TechHD Vest Integrates Envestnet Tech

HD Vest and Envestnet team up to provide advisors with UMAs and more.

Samuel Steinberger, Senior Technology Editor

September 14, 2018

1 Min Read
HighTower Advisors CEO Bob Oros
Bob Oros

Envestnet is partnering with Blucora-owned independent broker-dealer, HD Vest, to provide the platform's 3,700 tax-centric professionals with an expanded suite of technology, the company announced. The new technology includes a customized and branded toolkit for HD Vest, which announced a switch in clearing firms last year.

CEO Bob Oros characterized the tech addition as a means to providing more comprehensive insight into an end-client's financial situation. "Our mission is to give independent advisors a holistic view of each client's overall financial picture," he said.

The customized and branded tools at HD Vest include an Advisor as Portfolio Manager (APM) program, called VestAdvisor Discretion/Non-Discretion, a goals-based wrap-fee program consisting of ETFs and mutual funds managed by the firm's portfolio management team, called VestAdvisor Select, and a discretionary Unified Managed Account (UMA) program with vetted, separately managed account models, called VestStrategist. Advisors assisting retirement plan sponsors will also have access to Envestnet's Compliance Advantage platform.

All tools are available through HD Vest's platform, according to the company.

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About the Author

Samuel Steinberger

Senior Technology Editor, WealthManagement.com

Samuel Steinberger is Senior Technology Editor for Informa Connect’s WealthManagement.com. In his role, Mr. Steinberger provides the publication’s wealth and financial technology coverage. 

Mr. Steinberger’s editorial insight and familiarity with technology accelerates Informa’s growth within the financial advisor and wealth management communities, providing in-depth news for advisors and financial professionals. 

Before joining Informa Connect, Mr. Steinberger produced documentaries with former CNN anchor Soledad O’Brien at Soledad O’Brien Productions (formerly Starfish Media Group). He specialized in research, shooting and editing, as well as finding distinct voices to explain topics like mental health, poverty and racial divide. 

Prior to joining Soledad O’Brien Productions, Mr. Steinberger managed multi-departmental technology projects for global legal technology leader Transperfect Legal Solutions. After obtaining his graduate degree in journalism from Columbia University, he completed his transition from technology management to media. 

Mr. Steinberger is an award-winning journalist, author and researcher who has written, edited and reported for a number of publications, including The New York Times, Financial PlanningAmerican Banker and PBS. He is founder of beverages publication Give Me Weird Drinks

Mr. Steinberger’s technology analysis and insight has been featured in several books on virtual and augmented reality. Mr. Steinberger has received awards and recognition for his reporting and research, including the American Business Media's prestigious Jesse H. Neal Award for editorial excellence.

Follow on Twitter: @slsteinberger