Envestnet Brochures

6 FOR HOME OFFICE AND ADVISOR USE ONLY. NOT FOR DISTRIBUTION TO THE PUBLIC. Integration with Custodians and Data Aggregators A specialized billing solution can efficiently acquire asset value data when they can integrate with custodians and data aggregators for direct asset management feeds. Such solutions typically offer APIs that can be used seamlessly with major practice management platforms and to interface with data aggregators. This allows wealth management firms to get the best of both worlds — the convenience of comprehensive practice management software and access to a specialized billing solution optimized for challenging billing scenarios such as UMAs. Specialized Expertise Given the multi-asset, multi-manager format of UMAs and other investment products, a significant amount o f subject matter expertise is required to cover the full spectrum of billing scenarios. A specialized billing solution will be more likely to gather the information necessary to handle these scenarios in a timely and cost-effective manner. Regular System Updates Because they are strictly focused on billing, specialized solutions can invest the time and money required to keep their billing functionality current with the latest industry trends and standards. They are also able to continually innovate and improve the efficiency and utility of the features they offer. As billing practices such as fee schedules, sleeve composition and other factors change, specialized billing solutions are better equipped than all-in-one solutions to stay on top of these changes. Flexible Architectural Design Flexibility in the design of specialized billing solutions enables them to effectively integrate with external client platforms, such as CRM, portfolio management tools, and data warehouses. This feature allows wealth management firms to benefit from the robust functionality such solutions offer in conjunction with their existing practice management software. How Specialized Solutions Can Optimize UMA Billing Specialized billing solutions handle the challenges involved with providing comprehensive billing services for UMAs in a variety of ways. True-up Revenue vs. Estimate By trueing up billed fees against associated accrual estimates, a firm can more effectively manage their revenue recognition and reporting process. Variances between the two numbers often occur due to the differences in asset valuations between when an accrual was run and actual billing is calculated. Revenue Forecasts The calculation engine underlying sophisticated billing solutions can provide revenue forecasts based on accrual calculations. By performing calculations across different time frames, they can offer more precise forecasts. Auto Create Accruals Bringing in asset valuations and lifecycle events from previous periods enables an advanced billing solution to automatically create an accrual, whereas less sophisticated software can only base an accrual on a prior bill. Advanced Features █████████████████ Ì20000F907VÎ

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