MAY 10 2017

Envestnet | Retirement Solutions Extends Fiduciary Support to TIAA Custom Portfolios

Retirement Plan Advisors & Plan Sponsors can Access Innovative Envestnet Fiduciary Advantage™ 3(38) Outsourced Fiduciary Service for TIAA’s Target Income Models

CHICAGO, May 10, 2017 -- Envestnet | Retirement Solutions (“ERS”) announced today that ERS’s customized 3(38) investment management service platform, Envestnet Fiduciary Advantage™, will be available to plan sponsors and advisors whose retirement plans include TIAA’s Custom Portfolios Model Service. The same 3(38) investment management services will be made available to plan sponsors, or their advisors, that wish to incorporate TIAA’s Target Income Models, which leverage the application of Liability Driven Investing (LDI).

More information about Envestnet Fiduciary Advantage™, and the 3(38) fiduciary services it provides, is available at:

“Our arrangement with TIAA will offer fiduciary support for the broader swath of advisors that wish their plan sponsor clients to take advantage of TIAA’s Target Income Models, but may choose not to take on the fiduciary responsibility for managing the portfolios themselves,” said Robert Bernstein, Co-Founder and Senior Managing Director of Envestnet | Retirement Solutions. “We are pleased to provide fiduciary support to plan sponsors using TIAA’s innovative model service given TIAA’s long-held respect by industry insiders and the educators whose retirement plans it serves. We are also proud to help TIAA enable an even broader community of plan participants across the country to potentially save more for retirement using its Custom Portfolios Model Service and Target Income Models.”

The Envestnet Fiduciary Advantage™—powered by ERS’s institutional-caliber research, leading technology, and experienced staff—enables plan sponsors and their advisors to ensure they are selecting, managing, and reporting plan investments in accordance with their fiduciary duty. It allows plan sponsors and advisors to utilize the proprietary, systematic ERS SCORE™ Methodology to select plan investments that are in the best interests of participants. The ERS SCORE™ Methodology emphasizes portfolio managers that possess four characteristics: effective and consistent risk control, stability, an efficient risk/return profile, and a reasonable fee structure.

In addition to enabling the use of the ERS SCORE™ Methodology for investment selection, and easily integrating with record-keepers and other plan retirement service providers, Envestnet Fiduciary Advantage™ offers comprehensive 3(38) fiduciary services for investment monitoring and reporting.

“Plan sponsors and advisors are interested in simple yet sophisticated default solutions, like our Target Income Models, that focus on creating retirement income for plan participants,” said Dan O’Toole, Senior Managing Director and Head of Institutional Investment Solutions and Research at TIAA. “By offering 3(38) services that provide plans using our custom solutions with fiduciary support, more institutions and participants will have access to lifetime income solutions in their retirement plans.”

Target Income Models are model portfolios, available through TIAA’s Custom Portfolio Model Service, that seek to deliver a target level of income in retirement. Plan sponsors and/or their third-party consultants can develop the models (by selecting investment options and glide paths) and assign participants to the models using TIAA’s recordkeeping platform. Target Income Models aim to replace a specific portion of income in retirement using the same investment approach found in many defined-benefit plans: a liability-driven investment (LDI) strategy.

TIAA is the leading provider of financial services in the academic, research, medical, cultural, and government fields. TIAA has $938 billion in assets under management, as of March 31, 2017, and offers a wide range of financial solutions, including investing, banking, advice and guidance, and retirement services.

About Envestnet

Envestnet, Inc. (NYSE:ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet’s unified technology enhances advisor productivity and strengthens the wealth management process. Envestnet empowers enterprises and advisors to more fully understand their clients and deliver better outcomes.

Envestnet enables financial advisors to better manage client outcomes and strengthen their practices. Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. Envestnet | Tamarac provides leading rebalancing, reporting, and practice management software for advisors. Envestnet | Retirement Solutions provides an integrated platform that combines leading practice management technology, research, data aggregation, and fiduciary managed account solutions.

More than 55,000 advisors and 2,500 companies—including 16 of the 20 largest U.S. banks, 38 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisers, and hundreds of Internet services companies—leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences, and help drive better outcomes for enterprises, advisors, and their clients.

For more information on Envestnet, please visit and follow @ENVintel.

Media Contact:
Dana Taormina
JConnelly for Envestnet | Retirement Solutions