Cetera Renews Pact With Envestnet

Cetera advisors and institutions will continue to have access to the entire suite of Envestnet | MoneyGuide integrated financial planning tools. Cetera has also integrated individual blocks from MoneyGuide's MyBlocks that enable clients and prospects to engage on demand via AdviceWorks, Cetera's financial professional and client portal, and MoneyGuideElite, including distribution planning to help clients navigate distribution options during retirement.

Cetera "will continue to leverage and build upon technology in Envestnet's wealth management chassis as the underlying technology" for Cetera's My Advice Architect advisory platform, the firms said.

"Our growing financial wellness network brings together the elements required for financial professionals and enterprises to expand the definition of advice they can provide," according to Bill Crager, Envestnet co-founder and CEO.

Noting that advice is the "central component of the financial professional/client relationship, Adam Antoniades, Cetera CEO, said in a statement: "Envestnet's financial wellness network expands the depth and breadth of the advice our independent financial professionals can offer."

Cetera said Monday it was acquiring the independent financial planning channel of insurer Voya Financial in a deal that should bring about 900 financial professionals with $40 billion in client assets to the firm, which currently has about $260 billion in assets under management.