DST Systems and Envestnet to Deliver Comprehensive Reporting Solution

KANSAS CITY, Mo., Jan. 31, 2011 /PRNewswire/ -- Broker/dealers can now offer their independent financial advisors a robust reporting and aggregation solution through a strategic alliance between DST Systems and Envestnet. Designed to meet the diverse needs of a broker/dealer's independent advisor force, DST Vision Professional™ and Envestnet Vantage™ represent two levels of service a broker/dealer can deliver to provide reporting functionality in a cost-effective manner.

Targeting junior- and mid-tier advisors, Vision Professional combines brokerage account data from all major clearing firms with direct-to-fund data for more than 370 mutual funds, variable annuities, REITs and direct participation programs (DPPs). Subscription to Vision Professional includes seamless integration with Advisor WatchGuard™, a service that helps advisors evaluate management and diversification of client portfolios, research top-performing funds, build and evaluate hypothetical portfolios and align investments by values and beliefs.

For advisors seeking full performance reporting solutions, broker/dealers can offer Envestnet Vantage™—a comprehensive and sophisticated aggregation and wealth management reporting solution. Fully integrated on a single platform, Envestnet Vantage™ is designed to streamline administration and reporting tasks. Features include direct data feeds from multiple sources, including mutual fund direct holdings, brokerage accounts, insurance and annuities, separately managed accounts, alternative investments and client-permissioned accounts. Data is sorted, scrubbed, aggregated and reconciled daily.

"By bringing together two of the most significant service providers to the independent advisor community, entirely new business models are now available to firms needing fresh approaches to a very different operating and regulatory landscape," said Kyle Mallot, vice president of distribution support services for DST Systems.

"Delivering holistic views and management over a client's total wealth is very important in today's advisory practice," said James Lumberg, co-founder and executive vice president of business development for Envestnet. "Through this collaborative effort, Envestnet and DST are aligned to help broker/dealers and advisors manage their growing administrative and reporting demands while ensuring they offer advice that's in the best interest of clients."

Vision Professional and Envestnet Vantage™ may each be used as a broker/dealer enterprise solution or deployed together as a combined offering for all levels of advisors.

With Vision Professional, a suite of reports—available real time and as of quarter end—can be customized with an advisor-branded cover page with rep photo, company logo and disclaimer language. Reports include positions and product performance reports, asset allocation and holding reports, as well as Equity Overlap™ reports. The program is built upon Vision's turn-key, reconciliation-free platform and easy-to-use account management system. Broker/dealers can provide access to these reports via web and, soon, mobile devices. Designed for deployment without any cost to the broker/dealer home office, DST Vision Pro includes an opportunity for including dealer-specific disclosures.

"Historically, this type of aggregation and client-ready reporting was only available through costly portfolio management solutions," Mallot said. "Now, for a small monthly fee, independent advisors can have expanded aggregation of investment information, including brokerage and proprietary life detail. Vision Professional gives them a more comprehensive view of their clients' financial holdings."

Envestnet Vantage™ offers advisors the ability to see and evaluate the complete picture of client assets—those managed by the advisor as well as those held away. The program provides tracking and billing of advisor fees and commissions, as well as full performance reporting, including point-to-point reporting. Advisors can produce customizable reports based on their selected criteria and can access any type of data by client, groups of clients, or their complete book of business.

"Many investors today have more than one advisor or investment professional managing their assets," said Mike Apker, executive vice president of strategic development for Envestnet. "By having a holistic view of a client's assets, the advisor is able to offer more mindful advice, empowering him or her to further demonstrate leadership and value to the relationship in developing an overarching investment strategy that can fit across all of the client's holdings."

The strategic alliance between DST Systems and Envestnet responds to increased demand in the industry for more comprehensive and accurate reporting solutions. Not only can the tiered offering provide broker/dealers with more oversight to analyze an advisor's activity but also offer a way for advisors to manage their practices more intelligently, more insightfully and more purposefully.

"Many of my reps want aggregation capabilities, but the products on the market aren't affordable for most independent firms," said Richard Bryant, president of Capital Investment Companies. "This alternative is phenomenal. I can offer a choice of two options and they can use what they need. It's cost effective for the reps and I'm not shoving a level of technology down my entire sales force's throat that they won't use. The playing field has been levelled."

ABOUT ENVESTNET (NYSE: ENV)

Envestnet, Inc. is a leading provider of technology-enabled investment and practice management solutions to financial advisors. Envestnet's technology is focused on addressing financial advisors' front-, middle- and back-office needs. Envestnet is headquartered in Chicago with offices in Boston, Denver, New York, Silicon Valley and Trivandrum, India. The firm has over $126 billion in total assets served and more than 860,000 investor accounts.* For more information on Envestnet, Inc. please go to www.envestnet.com.

* Data includes assets under management and administration and licensing agreements as of 9/30/2010.

ABOUT DST SYSTEMS, INC.

DST Systems, Inc. provides sophisticated information processing and computer software products and services to support the mutual fund, investment management, insurance and healthcare industries. In addition to technology products and services, DST provides integrated print and electronic statement and billing output solutions through a wholly owned subsidiary. DST's world-class data centers provide technology infrastructure support for mutual fund companies, healthcare providers, banks, mortgage bankers and insurance companies around the globe. DST is headquartered in Kansas City, Mo., and is a publicly traded company on the New York Stock Exchange.

SOURCE DST Systems, Inc.