Two powerhouse technology companies — Envestnet and Salesforce — have partnered to offer advisors a much broader, more streamlined platform on the cloud.
Envestnet, a large wealthtech provider based in Berwyn, Pennsylvania, said on May 13 that its financial planning customers will be able to use its MoneyGuide platform on the Salesforce Financial Services Cloud. The partnership is meant to help advisors operate across multiple systems and applications on one platform so they can better monitor portfolios and work with clients throughout their investment lifecycle.
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"Financial planning is more critical than ever in today's wealth management landscape," Matt Wilson, head of Envestnet's MoneyGuide Sales, said in a news release. "Dashboard views provide an advisor insight into their entire book of business. By easily segmenting those clients approaching retirement, for example, an advisor can proactively identify new account and rollover opportunities, income strategies or potential tax planning strategies."
The partnership is significant considering both firms' large client base and AI capabilities.
Envestnet has more than $6 trillion in platform assets through clients spanning 109,000 advisors, 17 large banks, 48 wealth management and brokerage firms, and more than 500 RIAs. Salesforce, based in San Francisco, is a multibillion-dollar company operating the largest AI-backed
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"Our partnership with Envestnet is driven by a shared goal: to deliver innovative solutions that streamline the financial planning process and empower wealth advisors to be more productive," said Eran Agrios, senior vice president and general manager of financial services at Salesforce. "Together, we're providing advisors and financial services professionals with the data-driven tools needed to deepen client relationships and guide them in achieving their financial goals."
