ENVESTNET DEEPENS $1 BILLION WEALTHTECH COMMITMENT, MORE THAN DOUBLING TECHNOLOGY INVESTMENT IN TAMARAC

For most registered investment advisers (RIAs), growth isn't limited by ambition, it's limited by time. Advisors lose hours every week to work that has nothing to do with the client in front of them: reconciling data, assembling reports, moving between disconnected systems, managing client workflows, and ensuring the information they rely on is accurate, timely and actionable.Envestnet, the leading Adaptive WealthTech company, believes closing that gap is among the single biggest levers available to advisors today and the company is backing that belief with capital, increasing its technology investment in Tamarac, built for RIAs, by 2.5x. The investment puts AI directly into the workflows where advisors lose the most time, not as a separate tool to learn, but built into the platform they already work in every day.The announcement builds on the five-year strategic vision Envestnet unveiled a year ago to transform the advisor experience and solidify its position as the leading adaptive wealthtech platform for broker-dealers, RIAs, and institutional partners. As part of that vision, Envestnet is investing $1 billion in research and development over five years, equipping advisors with advanced, integrated, and configurable tools across every workflow: trading, reporting, financial planning, portfolio management, client engagement and more. Today's Tamarac investment reflects a desire to accelerate that sustained, multi-year commitment to RIAs."Growth for RIAs has always been about how much of their time they can spend on higher-value client and investment activities versus being buried in the operational mechanics of wealth management. This investment is Envestnet backing our belief that closing that gap is among the single biggest levers available to advisors today, and it's a down payment on a much longer commitment we're making to this industry," said Chris Todd, Chief Executive Officer of Envestnet. "AI only matters if it removes work an advisor is actually doing. That is the standard we are building to."Building the Adaptive WealthTech PlatformThe RIA industry is diverging along two growth tiers. Today, RIA firms with more than $1 billion in AUM make up just 7% of firms but manage 74% of industry assets. What's increasingly separating the two tiers is defined by their operating model. The firms pulling ahead have broken through a restrictive assumption that's constrained this industry for decades: that scale and personalization trade off against each other.That assumption is under pressure from every direction. According to Cerulli, an estimated $124 trillion in wealth is projected to change hands by 2048, landing on systems built for a different generation's accounts. And within existing books, complexity is compounding: more held-away assets, more alternatives, more tax nuance. Most advisory technology was built for one point on that spectrum. Ask it to stretch, and it can either break or demand heroic manual effort.Envestnet's Adaptive WealthTech platform serves an advisor's business, who are serving more households, supporting more sophisticated client relationships, managing more held-away assets, incorporating more alternative investments, and navigating more tax, planning, and tackling more extensive reporting needs.Adaptive Wealth Portfolios extends that technology to portfolio management spanning equities, fixed income, alternatives, and tax management, so a simple 60/40 household and a complex multi-account alternatives strategy can run on the same platform without a corresponding spike in manual work.That's a real distinction. Envestnet's Adaptive WealthTech and Adaptive Wealth Portfolios can absorb the complexity instead of the advisor. That's the logic behind the $35 million surge investment in Tamarac, the latest step, not the last, in giving advisors room to grow into whatever their business becomes next.Rather than focusing solely on new product features, Envestnet is prioritizing the areas RIAs have identified as foundational to long-term growth: trusted data, streamlined workflows, flexible integrations, modern reporting, improved operational transparency, and greater connectivity across the advisor desktop. Envestnet is applying AI where the platform already holds reconciled, multi-custodian data, so what an advisor asks for comes back accurate, in context, and ready to put in front of a client."This is the start of a sustained, multi-year push built specifically for RIAs. The pace of investment we're putting behind Tamarac is meant to set the pace for the entire RIA industry, and the capabilities we're introducing give advisors real time back to focus on what actually grows their business: their clients," said Sean Meighan, VP, RIA Distribution at Envestnet.The Time Cost of ReportingFew tasks consume more of an advisor's week than client reporting. Assuming a typical cadence of four quarterly reports and one annual report per client — five reports per year — and a conservative estimate of 55 minutes saved per report, the math adds up quickly across a book of business. The typical U.S. advisor serves a median of 235 households, according to the 2025 Dimensional Global Advisor Study. At that scale, an advisor is producing roughly 1,175 reports a year. Saving 55 minutes on each one adds up to approximately 1,077 hours saved annually; the equivalent of 52% of an advisor's working year. Put simply: reporting isn't just an administrative task, it's one of the largest untapped sources of capacity in an advisor's business, and it's precisely where Envestnet is focusing first.Introducing Report StudioAs one of the first major capabilities under the next era of Tamarac, Envestnet is introducing Report Studio, a rebuilt reporting foundation designed to give advisors more flexibility, control, and efficiency in how they create and deliver client reporting.Report Studio replaces a legacy experience in which holdings and performance data often lived in separate reports, configurations varied by report type, and setup could require navigating dense settings menus without visual feedback. In its place, Report Studio gives advisors drag-and-drop control over tables, charts, and KPI modules on the page, built on a more unified reporting foundation. No exports. No manual rebuilds. No last-minute scramble before a client meeting.With Report Studio, advisors can create more flexible, visually compelling, and client-ready reports that better reflect the narrative they want to deliver in client meetings. Advisors can build once, then choose how to deliver the experience, including interactive digital formats or professional PDF outputs.Later this fall, Envestnet plans to layer AI-enabled capabilities on top of this new reporting foundation. AI-enabled Report Studio is expected to allow advisors to build client-ready reports and narratives by describing what they need, including adding charts, changing visualizations, incorporating performance, attribution, tax, and capital-flow data, and generating AI-assisted client briefs with talking points in the advisor's own voice ahead of client meetings.Report Studio is available now. AI-enabled Report Studio is available for preview and beta signup, with general availability planned for later this fall."Advisors should spend their time telling their clients' stories, not assembling them," said Ryan Bamert, Group Director, RIA Product Management at Envestnet. "Report Studio is an important step forward because it addresses both the practical needs advisors have today and the future-state experience we are building toward: more flexible reporting, more connected data, and more intelligent workflows that help advisors prepare for better client conversations."Additional Capabilities Under the Next Era of TamaracReport Studio is one of several capabilities Envestnet is bringing to Tamarac as part of this sustained investment. Custom Model Solutions have been deepened to include semi-liquid strategies, interval funds and alternative ETFs, delivered at scale through the UMA platform giving advisors the tools to serve increasingly sophisticated high-net-worth and ultra-high-net-worth households. A full MoneyGuide integration now brings financial-planning data: goals, risk profile, net worth and held-away accounts directly into proposal workflows, IPS documentation and client records, rather than leaving it siloed in a separate planning tool, giving advisors a more holistic, unified view of each client heading into every conversation. And AI is now integrated throughout the Tamarac platform to reduce operational friction, with decision intelligence designed to surface potential next-best actions and AI agents built to make an advisor's day easier.AvailabilityThe new Report Studio is available to all advisors today. AI-enabled Report Studio is available now for advisors to preview and sign up for the beta program, with full production release planned for later this fall. Additional capabilities under the Next Era of Tamarac including deeper planning integration, managed account workflow enhancements, expanded integration capabilities, data and workflow improvements, and AI-enabled advisor productivity tools, will be announced on an ongoing basis as part of Envestnet's sustained, multi-year investment in RIAs.To learn more about how Tamarac and Report Studio can help your practice please visit our site.

ENVESTNET DEEPENS $1 BILLION WEALTHTECH COMMITMENT, MORE THAN DOUBLING TECHNOLOGY INVESTMENT IN TAMARAC

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