Envestnet, a leading provider of integrated wealth management solutions, is proud to announce at the Technology Tools for Today (T3) Conference taking place from January 22 – 25, 2024 at the Cosmopolitan Hotel & Resort Las Vegas, the launch of its new RIA consulting capability, the RIA Growth Lab. This innovative offering aims to enable the growth and productivity of RIAs by providing comprehensive practice valuation consulting services, leveraging cutting-edge technology to deliver actionable insights.

With the wealth management landscape constantly evolving, Envestnet recognizes the need for RIAs to stay competitive and optimize their practices. The newly formed RIA consulting group at Envestnet is poised to address these challenges by offering peer benchmark grades on essential metrics, including revenue, client satisfaction, and business stability.

Key Features of Envestnet’s RIA Growth Lab include:

1. PeerBenchmarking:Envestnet utilizes advanced technology to compare an RIA’s performance against industry peers, offering valuable insights into areas of strength and opportunities for improvement.
   
2. PracticeValuationEnhancement:By analyzing key performance metrics, Envestnet’s consulting team helps RIAs identify strategies to increase their overall valuation and efficiency.
   
3. Deepening Engagement: Envestnet’s RIA Growth Lab offers deeper consulting engagements for advisors interested in strengthening their relationship with the Envestnet ecosystem. This includes access to Envestnet’s extensive suite of tools and resources.

Dani Fava, a well-respected figure in the wealth management industry, leads this initiative. Fava brings a wealth of experience, making her the ideal leader for this innovative consulting group. Her commitment to helping RIAs succeed aligns seamlessly with Envestnet’s mission to empower advisors to achieve their full potential.

“We are thrilled to introduce our RIA Growth Lab to the market,” said Dani Fava, Group Head of Product Innovation at Envestnet. “Our goal is to assist RIAs in optimizing their practices, delivering enhanced value to clients, and deepening their connection with Envestnet’s comprehensive ecosystem of solutions.”

Joel Bruckenstein, fintech expert and President of T3 Technology Products and Services shares his take on the new consulting initiative — “For RIAs, business growth and productivity is a key priority and Envestnet is delivering on this need through the inception of the RIA Growth Lab. By understanding where similar businesses are performing and tapping those opportunities, advisors can expand the value they provide to clients with even deeper engagements and new technologies. It will be interesting to see how the RIA Growth Lab changes the game for advice and I suspect we’ll see more advisors aligned on how they deliver value to clients through the Envestnet ecosystem.”

Envestnet’s RIA consulting services will be available via 1×1 consulting engagements, upcoming webinars which will be announced soon, and via engagements at Envestnet’s in-person events, like the Envestnet

Elevate conference taking place in May 2024. RIAs seeking to elevate their practice and stay at the forefront of the industry should reach out to RIAGrowthLab@envestnet.com to stay informed about opportunities to begin their Growth Lab journey.

ABOUT ENVESTNET

Envestnet is transforming the way financial advice is delivered through an ecosystem of technology, solutions, and intelligence. By establishing the connections between people’s daily financial decisions and long-term financial goals, Envestnet empowers them to make better sense of their finances and live an Intelligent Financial Life™. With more than $5.4 trillion in platform assets—more than 107,000 advisors, 16 of the 20 largest U.S. banks, 48 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs, and thousands of companies, depend on Envestnet technology and services to help drive better outcomes for their businesses and for their clients. Data as of 9/30/2023.

Envestnet refers to the family of operating subsidiaries of the public holding company, Envestnet, Inc. (NYSE: ENV). For more information, please visit www.envestnet.com, and follow us on LinkedIn and X (@ENVintel).