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CHICAGO, IL – May 28, 2020
Press Release

For RIAs, Digital Transformation is Key for Staying Competitive & Meeting Client Expectations Post-Pandemic: White Paper

Industry Report, Commissioned by Envestnet & Produced by Aite Group, Illustrates How COVID-19 Crisis Dramatically Enhances the Importance of Digitalization; Best Practices & Most Essential Capabilities for RIAs Outlined

Envestnet, Inc. (NYSE: ENV) has published a white paper, "RIA Digital Transformation: A Competitive Necessity in a Post-Pandemic Marketplace," discussing industry sentiments and attitudes toward practice digitalization. The report, commissioned by Envestnet and drafted by Aite Group, discusses how end-to-end digital capabilities can help registered investment advisers (RIAs) effectively engage and service clients, and achieve scalability and sustainability, after the present crisis ends.

Prior to the COVID-19 outbreak, most RIAs remained in the nascent stages of building out digital offerings, or had implemented digital tools but never made client usage and adoption a priority. The lockdowns, social distancing, and significant market volatility stemming from the pandemic have elevated digital engagement in importance. However, the current situation also exposes flaws in processes which are not fully digitized. Completing workflows which require manual intervention can be extremely difficult when operational volumes are high, clients are anxious, and staff members are working from home. This white paper outlines best practices for RIAs to transition all practice operations to the cloud, and support clients, during and after the COVID-19 pandemic—and also identifies the most essential digital capabilities for helping RIAs maintain their competitive edge.

To download a copy of "RIA Digital Transformation: A Competitive Necessity in a Post-Pandemic Marketplace," please visit

"The COVID-19 crisis will have significant implications for how financial advice will be delivered going forward," said Andina Anderson, Executive Managing Director of Envestnet | Tamarac. "We are committed to providing advisors with the solutions and tools necessary for creating the digital experience that clients have come to expect in all areas of their lives outside of wealth management. This white paper is a vital educational resource for helping RIAs position themselves to engage clients, improve outcomes, and grow their practices in the post-pandemic world awaiting us."

Additional thought leadership content from Envestnet discussing key trends driving change in the wealth management industry, and their correlating impact on the future of advice, are available at

While preparing the white paper, Aite Group conducted an online survey of 400 financial advisors in the U.S., including 98 independent RIAs as well as 48 hybrid RIAs with a broker-dealer affiliation, between April 2019 and June 2019. Major findings include: "Client adoption, technology integration, and cost are among the top challenges that RIAs face as they digitize their practices and capabilities," said Dennis Gallant, Senior Analyst, Aite Group. "For many advisors, a bundled technology solution can help expedite the development of a unified, digital client experience incorporating financial planning, investment management, client reporting, account aggregation, and other key services. We are glad to partner with Envestnet to provide RIAs with a primer on the digital offerings they need to stay competitive and demonstrate greater value for clients."

Envestnet is hosting a webinar today May 28th at 4:30pm EDT/1:30pm PDT to discuss the findings of the white paper in more detail. To register please visit:
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About Envestnet

Envestnet, Inc. (NYSE: ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet's unified technology empowers enterprises and advisors to more fully understand their clients and deliver actionable intelligence that drives better outcomes and improves lives.

Envestnet Wealth Solutions enables enterprises and advisors to better manage client outcomes and strengthen their practices through its leading Wealth Management Operating System and advanced portfolio solutions. Envestnet | Tamarac provides portfolio management, reporting, trading, rebalancing and client portal solutions for registered investment advisers ("RIAs"). Envestnet | MoneyGuide provides goals-based financial planning applications. Envestnet Data & Analytics enables innovation and insights through its Envestnet | Yodlee data aggregation platform.

More than 103,000 advisors and more than 4,900 companies, including 16 of the 20 largest U.S. banks, 46 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs and hundreds of internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences and help drive better outcomes for enterprises, advisors and their clients.

For more information on Tamarac, please visit and follow @ENVTamarac on LinkedIn
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