Envestnet unveils AI data tools to empower advisors' decision-making

Envestnet has announced the release of two artificial intelligence tools – Generative Business Intelligence and Insights AI – intended to streamline data interpretation and enhance decision-making for advisors.

The Pennsylvania-based firm, which has grown over the past 25 years into a behemoth representing some $6.5 trillion in total platform assets, said the new offerings are part of a broader strategy to simplify access to key client insights and support faster, more intuitive advisory workflows.

According to Envestnet, the rollout reflects growing demand among advisors and home office teams for technology that reduces friction in data analysis.

“We’re evolving our platform to transform data into intelligent action,” Jeremi Karnell, head of Envestnet data solutions, said in an announcement revealing the features. “Using machine learning, natural language interfaces, large language models, we’re helping advisors make smarter, faster decisions that drive client growth and satisfaction.”

The Generative Business Intelligence solution allows users to request performance and client information through natural language queries. Envestnet said the tool generates visuals such as dashboards and charts in real time and includes data explainability features to help advisors understand the underlying information.

Envestnet explained that the system works through a secure integration with OpenAI’s large language model, which interprets queries and produces code behind the scenes to retrieve relevant data.

Karnell said the tool helps “remove barriers to firm-wide data fluency.”

Envestnet also announced another feature, Insights AI, which expands on its existing Insights Engine. That feature, already processes more than 25 million recommended actions daily.

Insights AI incorporates agent-based AI to identify advisor intent, search internal and external data sources, and suggest high-impact actions such as tax-aware loss harvesting, asset consolidation, or timely client outreach.

Instead of relying on dashboards, advisors can feed the system questions naturally and receive immediate, context-rich responses. Beyond input from the advisor user, the system also uses content from Envestnet and firm-level sources to refine its recommendations.

Dave Lieberman, principal director of product at Envestnet, described the feature as “giving every advisor a personal AI research analyst, always on and always learning.”

While both tools are currently integrated into Envestnet’s ecosystem, the company said it plans to allow enterprises to embed their own proprietary content to further tailor insights and elevate the quality of advice.

Apart from Gen BI and Insights AI, the firm said it's working to build "a fully agentic, AI-enhanced wealth management ecosystem" to give investors deep portfolio visibility while helping them make better decisions and develop a fuller understanding of their clients' financial picture.

The move towards agentic Ai has been apparent in other announcements these past few weeks. Perhaps most notably in mid-May, Carson Group announced its own in-house AI assistant, Steve, an AWS-powered tool that was trained based on its own digital ecosystem of data.