Independent Financial Group deepens tech ties with Envestnet

In a continuing bid to provide superior resources and support to its advisors, Independent Financial Group, a San Diego-based independent broker-dealer, has announced an expansion of its partnership with Envestnet.

To improve the offerings available to its network of over 600 independent financial professionals, the firm said it is arming them with enhanced access to Envestnet’s wealth technology ecosystem.

"Our partnership with Envestnet has enabled advisors in our network to further improve the quality and extent of their services," Chad Cristo, senior vice president for national sales and marketing at IFG, said in a statement.

IFG said its affiliated professionals are also now more able to service their clients holistically through a recent integration with the Envestnet Credit Exchange, powered by Advisor Credit Exchange, which provides access to leading providers of banking and lending solutions.

Cristo underscored the importance of “[helping] clients manage both sides of their balance sheet with cash and credit management solutions from the Envestnet Credit Exchange—especially now, when banks are tightening up access to credit.”

Over the course of its relationship with Envestnet going back to 2020, the firm has adopted several solutions from the fintech giant’s shelf, including the Envestnet Wealth Management Platform, PMC investment solutions, including tax overlay, and financial planning services through MoneyGuide.

Through the newly expanded partnership, the firm is integrating individual blocks from MyBlocks, which it says will help clients and prospects engage on demand throughout MoneyGuideElite – Envestnet’s market-leading financial planning software – with features such as retirement distribution planning.

"IFG's network of advisors are now better equipped to serve every financial need their clients might have, while also strengthening their relationships with clients and their families," said Tom Sipp, executive vice president of business lines at Envestnet.

IFG has also enhanced its advisory services by introducing a series of 14 home office model portfolios from the Envestnet platform.

James Naldi, director of research and portfolio construction at IFG, touted the "institutional caliber portfolio construction process” underpinning the models, which he said “combines the potential benefits of both active and passive investing into a set of highly diversified investment portfolios.

“[The models] allow the advisor to retain the level of discretion and control in the investment management process that best suits their unique preferences," he said.