Financial Wellness Platform Envestnet Partners with FNZ, a Global Wealth Platform

Envestnet, Inc. (NYSE: ENV), a provider of intelligent systems for wealth management and financial wellness, announced that it is partnering with FNZ, a global wealth platform, to create “a fully digital, integrated wealth management experience for the U.S. market.”

The integration of Envestnet’s and FNZ‘s platform will “allow for real-time account opening and funding along with digitally automated servicing and maintenance capabilities for the full lifecycle of the client account.”

Also, the partnership will “enable unique insights and experiences generated by Envestnet Data & Analytics’ Wealth Data Platform (WDP) to be integrated as part of FNZ’s platform and distributed to FNZ’s global customer base.”

Leveraging FNZ’s international scale and data sets, Envestnet’s WDP will “help enterprises, advisors, and asset managers more effectively run their businesses with advanced predictive models.”

Bill Crager, Co-Founder and CEO of Envestnet, said:

“At Envestnet, we are focused on enabling financial institutions, enterprises, advisors and their clients to make well informed financial decisions. This exciting partnership will advance that mission and enhances our ability to empower advisors to deliver deeper insights to clients. We look forward to working closely with FNZ to provide scaled, streamlined, deeply connected experiences that will deliver greater intelligence and value for all our clients.” 

Adrian Durham, CEO of FNZ, added:

“We are very excited about our partnership with Envestnet. Both of our companies have a shared vision to open up wealth, helping everyone invest in their future on their terms. The integrated solution will help our partners accelerate innovation and create outstanding client experiences.”

As noted in the update, FNZ’s platform “provides end-to-end wealth management solutions to advisors and investment managers to rapidly deliver personalized services and innovative wealth products to their end clients.”

FNZ administers “more than $1.5 trillion in client assets representing over 20 million investors worldwide.” It partners “with over 650 large financial institutions and 8,000 wealth management firms in 21 countries, including abrdn, Barclays, Colonial First State, Generali, Lloyds Bank, Santander and Vanguard.”

Envestnet’s WDP will be “integrated as part of FNZ’s global platform and distributed in international markets beginning in the first quarter of 2023.”

The end-to-end, digital wealth management experience “will be available in the United States during the second half of 2023.”

Rich Aneser, Chief Strategy Officer at Envestnet, stated:

“Today’s announcement is another milestone in Envestnet’s partnership strategy to accelerate our pace of innovation in the market. By partnering with FNZ, a leading global wealth technology platform provider with cutting-edge technology, we continue to demonstrate that our open ecosystem creates improved experiences and more value for customers.”

Envestnet has a footprint “spanning three businesses: Data and Analytics featuring its Wealth Data Platform, Wealth Tech comprising the advisor portal and financial planning solutions, and Wealth Solutions “offering extensive managed accounts and personalization capabilities as well as holistic financial solutions including insurance, credit, and trust.” As of June 30, 2022, the platform “powers approximately $5 trillion in total assets.”

Tom Chard, CEO, North America at FNZ, remarked:

“We are delighted to be able to work closely with the experienced team at Envestnet as we continue to expand our U.S. footprint. Integrating our capabilities, solutions and expertise will help us better serve advisors and clients in the United States, as well as globally.”

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