The folks at Envestnet
are preparing to support mutual fund firms and ETF shops for the first time.
, senior vice president of manager solutions at the Chicago-based TAMP titan, confirms that Envestnet plans to soon offer a "single point of contact" to select fund shops. And the publicly-traded shop is preparing to roll out a manager portal for its mutual fund, ETF, separately managed account (SMA), and FSP (fund or ETF strategist portfolios) partners. Envestnet already offers that single point of contact approach to support its SMA and FSP partners.
"We are right now thinking about how best we can support the ETF- and mutual-fund-only products that advisors are using," Jimerson tells MFWire
. "The overarching goal at Envestnet is to empower advisors and provide world class investment solutions ... If we support managers better, they in turn support advisors better."
Jimerson and her boss, advisory services executive vice president Lincoln Ross
, confirm that not all fund firms will be provided with single points of contact by Envestnet. Jimerson points to those "that have been more successful" on Envestnet's platform as shops likely to be included in the new single point of contact program. Another group of firms likely to be supported in this way, Ross tells MFWire
, is "those that have struggled to market to the independent community."
"It's not just AUM. It's a willingness ... to really partner with us, a curiosity on their part, a desire to work more closely," Jimerson says. "A lot of shops have that willingness. We'd like to partner better with them."
"The theme is helping investment managers navigate our system in order to better support advisors," Jimerson adds.
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