Nitrogen | Press Release: Nitrogen & Envestnet Announce Integration
We’re thrilled to deepen our relationship with Envestnet through our new, expanded integration and single sign-on. Read today’s full press release below!
Nitrogen and Envestnet Announce Integration to Streamline Proposal Process for Advisors
Single sign-on and deep integration will allow advisors to create and implement proposals for client portfolios across the two platforms
AUBURN, CALIFORNIA — October 22, 2020 —Today, Nitrogen announced its expanded integration with Envestnet, Inc. (NYSE: ENV), allowing advisors to create proposals for asset allocations through a single sign-on between the two platforms. Advisors will be able to use Nitrogen to generate Risk Numbers for their clients, build proposals using the Risk Number, and implement those proposals directly into the Envestnet unified advice platform.
“The upcoming integration with Envestnet furthers Nitrogen’s mission to empower the world to invest fearlessly and give advisors flexibility and choice in how they deploy solutions for their clients,” said Bob Dimicco, SVP Engineering and Product at Nitrogen. “This year has shown us that understanding risk is a critical part of the advisor-client relationship, and with this seamless integration, we’re collectively aiming to simplify an advisor’s proposal workflow and allow for greater efficiency and productivity.”
Advisors using Nitrogen can create proposals by comparing a client’s Risk Number with the risk of their current portfolio, and identifying which adjustments need to be made based on this comparison. In order to implement that proposal, advisors will be able to easily pull their client’s current portfolio from Envestnet and update the portfolio allocation. Previously, the information would be pulled and uploaded manually by the advisor, but now the data will be be automatically integrated into Nitrogen from Envestnet.
“Nitrogen and share a common mission to help advisors advance their practices, and bring their clients closer to financial wellness—and we couldn’t be more excited to deepen our relationship further,” said Blake Wood, SVP, Director of Product Strategy at Envestnet. “This integration will allow advisors harnessing our unified advice platform to create seamless portfolio proposals addressing more areas of a client’s overall financial life—and spend more time on ways to strengthen their client relationships.”
The integration will also complement Nitrogen’s existing MyBlocks™ integration with | MoneyGuide, which displays a client’s Risk Number alongside the other Blocks available on the MoneyGuide platform.
The companies expect to make the new integration available to enterprise clients starting later this year.
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Nitrogen is the company that invented the Risk Number®, which powers the world’s first Risk Alignment Platform, empowers advisors to manage and monitor client accounts with Nitrogen Trading, delivers the first risk-centric 401(k) experience with Nitrogen Retirement Solutions, and enables enterprises to develop real-time visibility, increase revenue, spot issues and navigate changing fiduciary rules with Compliance Cloud. Advisors, broker-dealers, RIAs, asset managers, custodians and clearing firms use the Nitrogen platform to empower the world to invest fearlessly. To learn more, visit riskalyze.com.
Envestnet, Inc. (NYSE: ENV) is transforming the way financial advice and wellness are delivered. Our mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. Over 103,000 advisors across 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 FinTech companies—leverage the Envestnet platform to grow their businesses and client relationships.
Nitrogen and Envestnet are separate and unaffiliated firms and are not responsible for each other’s services or policies. This release should not be construed as a recommendation or endorsement of any particular product, service, or firm.
Nitrogen Media Contact:
E: [email protected]
Envestnet Media Contact:
T: (973) 647-4626
E: [email protected]