A news release said the pact will benefit advisors and institutions that manage over $20 billion of assets through Envestnet.
Developed and offered by McHenry subsidiary PlanTools, the PlanTools Risk Management System helps retirement plan sponsors conform to recognized prudent fiduciary practices in their work with DC plans.
PlanTools will partner with Envestnet to integrate tools that provide plan sponsors and their advisors with access to fiduciary oversight reports that support professionally managed Multi Manager Accounts created by Envestnet’s investment professionals.
The new offering will be made available to advisors using ENVEST(k), a solution for qualified plans that delivers the benefits of separate account investing to retirement plan participants regardless of their individual account sizes. The asset-allocated, managed portfolios utilize Envestnet’s Multi Manager Account (MMA) portfolios in addition to actively managed mutual fund and ETF portfolios, according to the announcement.
More information about The McHenry Group is at www.mchenrygroup.com .
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