BOK Financial Advisor Trust Services Now Available as Embedded Offering via Envestnet Trust Services Exchange

Integration Strengthens Soon-to-Launch Platform Powered by Trucendent, Delivering One-Stop Marketplace for Enabling RIAs & Broker-Dealers to Seamlessly Create, Manage & Transfer Trust Accounts for Clients

Envestnet, Inc. announces that BOK Financial has joined the Envestnet Trust Services Exchange, powered by Trucendent, in a partnership aimed at providing financial advisors and their clients with access to a nationally chartered, advisor-friendly trust company with a broad array of services.

The Envestnet Trust Services Exchange was created through partnership with Trucendent, a provider of tools and solutions for enabling advisors to strengthen their understanding and use of trusts in estate planning. BOK Financial Advisor Trust Services is now available on Envestnet’s Trust Services Exchange, fulfilling a critical role in the wealth transfer process.

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“Naming a friend or family member as a trustee may seem like a simple solution, but it may not always be the best solution. Most individuals lack the expertise and experience needed to serve as trustee,” said John Yackel, Executive Managing Director and Head of Strategic Initiatives at Envestnet. “Given the extent of the responsibilities involved and the potential liability in the event of an error, selecting a professional trustee may be a better alternative. Another key benefit of this integrated platform is that it offers advisors with clients, who may be unhappy with their current corporate trustee, the flexibility to potentially move those relationships to this offering and to take advantage of an integrated and improved client experience, while capturing new assets.”

The Envestnet Trust Services Exchange is the only advisor-centric offering that supports the entire wealth transfer process. This solution integrates goal-setting, advice creation, documentation, account implementation, and trustee services while leveraging a powerful third-party estate planning attorney network.

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“Envestnet and BOK Financial are aligned in the mission to empower advisors to better serve their clients through trust administration solutions,” said Rosemary Hueser, Senior Vice President, Manager of BOK Financial Advisor Trust Services. “Our trust administration solutions can help enhance, strengthen, and grow advisors’ relationships with clients, as well as their practices by capturing and retaining trust assets. This partnership allows us to meet and work with today’s most forward-looking advisors on the platforms that they are comfortable with, and inside of their natural planning processes.”

The Envestnet Trust Services Exchange will be fully integrated with Envestnet | MoneyGuide, Envestnet | Tamarac, and other offerings within the Envestnet ecosystem. This will enable advisors to integrate this new capability for managing trust accounts into the platforms and workflows that drive their practices today.

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