Financial advisors aiming to scale intelligently, streamline operations, and maintain high-touch service for clients often reach an inflection point: operational demands exceed what their internal systems can handle. For many firms—whether RIAs, aggregators, or independent broker-dealers—the solution lies in partnering with a technology-forward, high-capacity TAMP. Envestnet, with its combination of enterprise-grade infrastructure and flexible architecture, continues to stand out as a trusted partner.
In an interview with The Wealth Advisor’s Scott Martin, Dana D’Auria, Group President, Envestnet Solutions, and Co-CIO at Envestnet, discussed what sets the firm apart—from sophisticated tools for tax overlay and unified managed accounts (UMAs) to its unique ability to serve large enterprises and boutique RIAs alike. “We have size, scalability, and a capability of putting through trades and making rebalance updates en masse in a way that a lot of other tools out there are not doing,” she says.
Hidden Depths in the Core Platform
Envestnet is not just a recognizable name in the TAMP space; it’s often a surprise powerhouse to advisors who explore its full capabilities. While advisors may enter with expectations about the basics, what they discover is a deeply refined operating system honed through years of feedback and iteration.
“Our unified managed account program has been around 15-odd years,” D’Auria says. “That’s a lot of years and a lot of releases where we’re getting feedback from client usage, advisor usage. . . . ‘Can you work on this? Can you update this?’ Some of the capability sets in the UMA that we take for granted to a certain extent—but the advisor base really can get a lot of use out of—is a theme for us.”
The result is an evolved UMA infrastructure that includes sophisticated tax functions, customizable asset allocation overlays, and access to high-net-worth services—all supported by a scalable operating backbone. Importantly, the value lies in both feature availability and integration. The system has been optimized to meet the needs of large institutions while remaining configurable for independent advisors who want more than a basic plug-and-play experience.
Scaled Infrastructure with Open Architecture
When it comes to distinguishing service, Envestnet doesn’t compete on individual features alone—it stands apart from competitors through the sheer scale and robustness of its infrastructure. Designed originally to support large broker-dealer platforms, Envestnet provides that same back-end power to RIAs and other firms that may otherwise be unable to access such capabilities.
“If you’re big broker-dealers, you have some in-house solution that you’re using, but that’s not something available to other RIAs or other smaller independent broker-dealers,” D’Auria explains. “So, that’s the differentiator for Envestnet, that we are in fact open architecture and capable of bringing on these other clients, and they get all the benefits of having a tool that’s really designed for big broker-dealers.”
The powerful combination—enterprise-caliber infrastructure and accessible integration—positions Envestnet as potentially an ideal choice for advisors who need technology that can grow with them. The ability to personalize on the front end while relying on institutional-level processing power in the background delivers both flexibility and peace of mind for growing advisory firms.
Outsourcing Efficiency Without Sacrificing Control
For advisors struggling to manage increasingly complex portfolios while scaling their practice, outsourcing is often a necessity. Yet many worry about losing control or sacrificing the personal touch clients expect. Envestnet meets that challenge by offering balance: advisors can retain strategic oversight while outsourcing operational tasks that benefit from standardization and scale.
“You want to be spending your time with your clients prospecting, and there are just parts of the business that very clearly can be made more process oriented if you have the right technology solution and a partner who frankly has the heft,” D’Auria notes. “If something goes awry, we’re a partner.”
By managing model rebalancing, core ETF strategies, and tax-efficient implementation through automated systems, Envestnet allows firms to refocus internal resources. Advisors can dedicate more time to bespoke strategies, specialized client services, or advanced planning—while routine functions continue uninterrupted.
Tax Overlay: A Clear Example of Value at Scale
One of Envestnet’s most compelling capabilities is its tax overlay service, which uses algorithmic tools to manage tax-loss harvesting across large volumes of accounts. Advisors who attempt to manage this function manually—or even with basic software—often find that doing so can quickly become inefficient and error-prone.
“We’re seeing significant traction in tax overlay because this is a service where it makes a lot of sense to try to use an algorithm and a scaled process,” D’Auria explains. “You probably also have big swaths of accounts where you want tax management, but to have to manually manage that one by one is not efficient.”
Rather than placing the burden on advisors to build these workflows themselves, Envestnet offers plug-in solutions that remove the operational friction. Such automation is designed to allow an advisory firm to deliver consistent outcomes across many clients while retaining the flexibility to personally manage exceptions or complex cases.
Modular Design and Advisor Autonomy
A standout strength Envestnet offers is its modular design—advisors can choose how deeply they want to integrate the platform into their operations. Rather than enforcing a binary choice between outsourcing everything or maintaining full in-house control, Envestnet supports blended approaches.
“Many advisors are looking for the flexibility of being able to say, ‘Yeah, I want to use these different strategies, different managers—I still want to put it together myself—but I can do much more with the building blocks within the unified managed accounts chassis than singly building that with just a software tool,’” D’Auria says.
The adaptive architecture empowers advisors to create unique client experiences, implement proprietary sleeves, or tailor portfolios to specific investment philosophies. Whether working with mutual fund models, ETFs, or separately managed accounts, users retain the authority to shape portfolios while leveraging institutional-grade components.
A Platform—and Partner—Built for the Long Haul
Beyond tools and technology, D’Auria emphasizes Envestnet’s role as a strategic partner. Unlike solo solutions that address only one pain point, Envestnet supports the full lifecycle of advisory practice—from model selection and implementation to tax management, rebalancing, and ongoing oversight.
“We’re a partner—as opposed to worrying about, ‘I’ve picked out maybe a technology resource, but at the end of the day, if there’s a problem, I really don’t know who’s behind that,’” she says. “That’s where Envestnet really shines for advisors and home offices.” That reliability matters when stakes are high and scale becomes essential to sustained growth.
From overseeing manager research to managing $600 billion in assets, D’Auria and the entire Envestnet team have built a structure where advisors can thrive. The platform accommodates both those who want a turnkey solution and those who seek to customize every layer—offering flexibility without compromising efficiency or support.
Powering Sustainable Growth
At a time when many advisory firms are grappling with scale, complexity, and rising client expectations, Envestnet offers a path forward. Advisors can automate routine processes, manage tax strategies efficiently, and customize portfolios using industry-leading tools—all while relying on a partner with the experience and resources to back them up.
“You’re at a point where you know that you want to get scaled and you want to keep growing,” D’Auria says. For financial advisors seeking a platform that does more than just check boxes, Envestnet continues to deliver not only functionality, but also foresight. It’s more than a TAMP—it’s a strategic partner designed to scale with the modern advisor, today and into the future.
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Disclosures
The information, analysis, and opinions expressed herein are for general information only. Nothing contained herein is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Investing carries certain risks and there is no assurance that investing in accordance with the portfolios or strategies mentioned will provide positive performance over any period of time. Investors could lose money if they invest in accordance with the portfolios or strategies discussed herein. Past performance is not indicative of future results.
Neither Envestnet, Envestnet | PMC™ nor its representatives render tax, accounting or legal advice. Any tax statements contained herein are not intended or written to be used, and cannot be used, for the purpose of avoiding U.S. federal, state, or local tax penalties. Taxpayers should always seek advice based on their own particular circumstances from an independent tax advisor. Client must carefully determine if the use of tax overlay services is appropriate for their circumstances, risk tolerance, and investment objectives.
