Molly Weiss, Group President for Wealth Platforms at Envestnet, joined Julie Cooling, Founder and CEO of RIA Channel, to discuss how Envestnet always tries to improve technology offerings for advisors and their investors.
Envestnet is rolling out a new portal for clients of advisors and has received great feedback on the usability and capabilities of the portal. The portal can help advisors interact with clients in a digital-forward way, where data aggregation provides a full picture of client wealth. Financial planning and investment proposals are embedded into the client experience. Envestnet also offers a stand-alone trading tool that is available without advisors being connected to the entire wealth management platform
Weiss thinks about artificial intelligence (AI) in two ways. First, AI can be leveraged to increase the throughput of technology, speeding the development time for delivering enhancements to advisors.
Second, AI can craft a conversation-based experience. Users are not interested in logging into a system and navigating through a process. Rather, they expect to tell the technology what they want it to do. These capabilities include retrieving data and enabling the financial planning and proposal processes.
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