Mutual fund distribution executives, get to know this platform, again.

The platform in question is Envestnet, a technology and unified wealth management services geared at independent advisors.

The open-architecture TAMP is going gangbusters in growth efforts, adding functionality, expertise and services to lure more advisors on. For example, last week the platform launched liquid endowment portfolios last week. (That's not a '40 Act product per se, but the point is that the TAMP is doing a lot to expand its product line up in a variety of channels.)

"We're devoting a lot of money and resources to develop better technology and services, like portfolio management tools. So an advisor can leave a wirehouse and can replicate what he or she had there, but with a white label," James Patrick, executive vice president, advisor managed programs.

The initiatives are working. The platform currently serves over 30,000 advisors and will add on another 1,000 by May.

At year-end 2013, Envestnet boasted $45.7 billion assets under management, and $132.2 billion in assets under administration.

Patrick said the platform has over 11,000 products for advisors to choose from, and that number is growing.

Advisors are assisted in picking products and building portfolios by Michael Featherman, director of portfolio strategies.

According to Patrick, the platform does not charge any upfront costs to advisors, instead it charges fees based on usage. Funds don't pay anything to be on the platform.

"We don't participate in revenue share. We are not a traditional partner," he said. 

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