National Advisors Trust Announces Addition of Envestnet UMA to AdvisorDesk Multi-custodian Technology Platform
Collaboration will expand investment options and trust services to RIAs.
San Francisco, CA (April 27, 2011) – At the company’s 10th Anniversary Celebration Conference, National Advisors Trust Company today announced the addition of Envestnet UMA – a customizable solution that combines multiple investment products in one account registration – to its service offerings for the trust company’s 130+ RIA shareholders. The solution will enable RIAs to simplify account maintenance while delivering portfolio options that are tailored to client risk profiles, needs and objectives.
“Integrating Envestnet UMA with National Advisors’ multi-technology platform further expands the options we can provide RIAs in managing their multiple client portfolios from a single, open-architecture platform,” said Ronald G. Ferguson, CEO of National Advisors Trust. “Providing RIAs with increased technological efficiencies, such as UMA and a unified technology platform, allows them to utilize technology for many administrative tasks, improving efficiencies and lowering costs. This allows RIAs to focus on client relationships and new business development, rather than non-revenue generating administrative and operational tasks.”
In addition to having access to Envestnet services, National Advisors’ firms will also be able to leverage the unique capabilities and pricing of the trust company’s custody platform through AdvisorDesk™. AdvisorDesk is National Advisors’ multi-custodian technology platform. RIAs who provide investment management for trust accounts can do so on National Advisors platform, and the company can serve as the trustee or as Agent for Trustee.
National Advisors will also provide its trust and custody platform to existing Envestnet advisor firms who need trustee or Agent for Trustee services. Lori Hardwick, Envestnet’s Executive VP, Advisory Services, stated, “For advisors who want to use Envestnet for trust accounts, we can now support that capability through National Advisors Trust’s custody and trust services.”
“There are great synergies between National Advisors Trust and Envestnet, from our open architecture and unified platform approach to technology, to our client-centric ethos,” said Hardwick. “As a registered investment advisor, we understand the needs of RIAs and believe that Envestnet UMA brings important new abilities to advisors.”
With Envestnet UMA, advisors can build customized asset allocation models using any combination of 27 asset classes; models can be saved and applied to multiple accounts. Advisors have access to tools that make recommendations to help determine the appropriate asset allocation for their clients. Advisors can create customized portfolio models with over 4000 investment products to fund each asset class. Separate accounts, mutual funds and ETFs can be combined in a single account; one registration and one 1099 form eliminate the need for multiple sets of paperwork. Block trading across accounts reduces overall fees, as well as trading and custody fees for equity trades and for ETF-heavy SMAs and UMAs; block trading eliminates the need to execute multiple orders, potentially reduces execution risk and improves price certainty. Systematic rebalancing, coordinated tax harvesting, and single-schedule fee billing reduce advisors’ administrative burden. Trades and rebalancing are conducted by Envestnet, who acts as the Overlay Manager.
“With Envestnet UMA and the trust company’s custody platform, RIAs can increase productivity, lower fees, reduce time spent on administrative tasks, and ultimately gain more face time with clients and prospects,” said Ferguson. “It’s a great alliance and a timely addition to National Advisors’ offerings in concert with our 10th Anniversary Celebration Conference.”
About Envestnet (NYSE: ENV) Envestnet, Inc. is a leading provider of wealth management solutions to financial advisors who are independent, as well as those who are associated with small or mid-sized financial advisory firms and larger financial institutions. Envestnet's technology is focused on addressing financial advisors' front-, middle- and back-office needs. Envestnet is headquartered in Chicago with offices in Boston, Denver, New York, Silicon Valley and Trivandrum, India. The firm has over $139 billion in total assets served and more than 910,000 investor accounts.* For more information on Envestnet, Inc. please go to www.envestnet.com.
* Data includes assets under management or administration and licensing agreements as of 12/31/2010. About National Advisors Trust
National Advisors Trust Company, FSB, is a federally chartered trust company with assets of more than $7 billion. Founded in 2001, it is the largest independent, RIA-owned trust company in the nation, and is authorized to do business in all 50 states. The company provides a broad range of trust and custody services uniquely designed and positioned for clients of an RIA, including; a private label trust marketing program, an advanced, multi-custodian investment management platform, trust accounting services, trust education programs, practice management programs, economies of scale, and other related services to advance the success of participating RIA firms and their clients. National Advisors Trust is a “trust only” organization focused on trust and custody services for RIA firms and is not involved in lending and depository banking functions. For more information on National Advisors Trust, visit www.nationaladvisorstrust.com.
AdvisorDesk is a trademark of National Advisors Trust Company, FSB. Other company and product names may be trademarks of their respective owners.
For more information contact:
JCPR (c/o Envestnet, Inc.)
National Advisors Trust