Envestnet Retirement Solutions and Kestra Financial, a wealth management platform, are partners in launching Retirement Plan Enterprise, a service for advisers who sell retirement plans and provide investment menu advice to plan sponsors.
“RPE provides a comprehensive retirement plan practice management platform through single sign-on capability within Kestra Financial’s proprietary technology platform, at no additional cost to associated financial professionals,” a Kestra release said.
The platform includes these retirement plan tools:
Plan management dashboard. Designed to help financial professionals set and manage business retention and goals, the dashboard provides aggregate views of plans, AUM and scorecards, among other key metrics. The dashboard also assists financial professionals with asset and trend monitoring by fund and record keeper.
Investment analytics, fund research and monitoring reports. The platform will enable financial professionals to analyze and compare existing funds with recommended lineups, provide access to RPE’s proprietary analytics module, scoring criteria, and weightings as well as generate self-branded reports, including market commentary, asset allocation, plan-level performance, fund monitoring, due diligence, fee benchmarking, and more.
RFP and vendor search tools. The program is built to automate, streamline, customize, and manage the proposal and search process. It can help financial professionals monitor, track, review, and compare vendor responses.
The platform is also designed to ensure that the financial professional’s recommendations are in the client’s best interest by accounting for evolving regulatory requirements and fiduciary standards, the release said.
Kestra Financial, headquartered in Austin, Texas, is a division of Kestra Holdings. It includes the Kestra-branded broker-dealer and investment advisers. The firm supports more than 1,800 independent financial professionals.
Envestnet refers to the family of operating subsidiaries of the public holding company, Envestnet, Inc. (NYSE: ENV). Its cloud-based platform supports more than 108,000 advisors and more than 6,000 companies—including 18 of the 20 largest US banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs, and hundreds of fintech companies.
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