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.
