Docupace integrates with Envestnet, strengthening digital solutions for Managed Accounts

By Leandra Monteiro

Docupace, a leader in cloud-based FinTech digital operations software for the wealth management industry, announced the next phase of its strategic integration with Envestnet, further streamlining and digitising the process for opening managed (advisory) accounts.

“Docupace and Envestnet share purpose and passion for improving financial outcomes and making financial wellness a reality for more people,” said David Knoch, chief executive officer for Docupace. “At Docupace, we exist to turn financial planning into financial planning well-executed. Partnering the best of Docupace with the best of Envestnet brings the financial advice and investment industry one step closer to making this a reality.”

Over the past year, the Product Organization at Docupace has worked to enable its legacy system to utilise the APIs available through Envestnet. These APIs allow Docupace to customise the advisor, client, and back-office experiences related to proposal and account opening workflows.

The deep, data-rich integration includes real-time data exchange between the platforms, along with several back- and front-office enhancements, to deliver a streamlined experience to clients, advisors, and home office professionals which eliminates duplicate data entry, and creates a single-sign-on (SSO) experience for accessing and managing one or multiple accounts.

“Our ongoing collaboration with partners like Docupace helps us optimize the digital experience for more advisors and organizations across the wealth management industry,” said Molly Weiss, chief product officer of wealthtech and solutions for Envestnet. “A unified portal where advisors can seamlessly perform as much as possible on behalf of clients—using data-driven insights and a holistic view of each client’s financial picture—is essential for making them the heroes who enable clients to make sense of their financial lives and achieve better outcomes.”

This new digital advisory experience is just the initial innovation for financial advisors, and work has already begun to connect this experience to the Envestnet Insurance Exchange powered by FIDx.