Envestnet extends integration network with Axos Clearing and Pontera

Envestnet is amplifying its already considerable influence across the wealth space as it forges strategic partnerships with two other fintech firms.

The wealth technology behemoth has entered into two new integration partnerships with Axos Clearing and Pontera, aiming to broaden the services available to advisors who manage client assets through both firms’ platforms.

Through its partnership with Axos Clearing, Envestnet is making its managed account solutions – which features a who's who of investment giants including Franklin Templeton, BlackRock, State Street, and Fidelity – available within the Axos Complete portal, providing tools for hybrid broker-dealers and RIAs to enhance their service to clients while streamlining operations.

Axos Clearing, a subsidiary of Axos Financial Inc., reported approximately $35.7 billion in assets under custody and administration as of June 30.

“Partnering with Envestnet to integrate their managed account technology into our professional workstation allows us to provide our clients with the tools and technology they need to thrive in a fee-based advisory model,” David Crow, head of Axos Clearing, said in a statement Friday. “This is a key step as we continue developing Axos Complete, our comprehensive platform for advisory and operational solutions.”

Through the integration, Axos Clearing clients gain access to portfolio management technology that supports automation for rebalancing, reporting, and other routine tasks, enabling advisors to offer a wider array of investment options.

“This new partnership further expands the reach of our managed account solutions,” said Molly Weiss, group president of Envestnet’s Wealth Management Platform, who highlighted the two firms' shared "commitment to enable advisors to seamlessly meet clients where they are and address the gaps that many firms face due to a lack of comprehensive solutions.”

In another development, Envestnet’s BillFin billing solution will now integrate with Pontera’s platform, aimed at streamlining billing for financial advisors managing 401(k) accounts. Pontera, a fintech firm focused on helping retirement savers manage their workplace retirement accounts, has enabled BillFin’s billing features to offer advisors improved payment workflows for workplace retirement plans.

“By adding BillFin capabilities, we’re empowering financial advisors to deliver even greater value and a more comprehensive wealth management service to their clients,” David Goldman, chief business officer of Pontera, said in a separate announcement Monday.

Envestnet’s partnership with Pontera aligns with trends showing increased demand for professional guidance on workplace retirement accounts. According to Pontera’s recent 401(k) Literacy Survey, 74 percent of Americans want professional help managing their retirement savings. Through the wealth tech provider's platform, retirement savers can get personalized 401(k) management by enabling their advisors to deploy portfolio rebalancing and tax strategies in those accounts

"Pontera's growing technology partner community enables us to meet advisors where they live by linking our secure 401(k) management platform with the technology tools they're already using, helping them deliver the best possible client experience," Goldman said.