Financial Planning Tool and Portfolio Management
Setting up the integration:
1. Setup for the account feed component of the integration is handled by Envestnet, so you can reach out to them to begin that process.
2. In order to enable the other components of the Envestnet integration within Redtail, from within your Envestnet account use the SSO (Single Sign-On) option to log in to Redtail. This is all that is required for setup.
1. Your clients' Account data is pushed from Envestnet to Redtail CRM.
2. After setting up the portion of the integration enabled via the action listed as #2 above, you'll find it offers several components from within Redtail, all of which are accessible from your Integrations menu in the CRM:
After clicking the Integrations menu icon, scroll (if necessary) until you see the Envestnet option. Then, click it to see your integration options.
If you are not within a Redtail contact record when clicking Envestnet from the Integrations menu, your only option will be to "Launch Envestnet", which is a simple SSO into your Envestnet account:
If you are within a contact record in Redtail when clicking Envestnet from the Integrations menu, your options change, depending on whether or not you've already linked the contact record to a record within Envestnet.
If you have not set up this linkage, you would see the below:
Here, you can either link to an existing record in Envestnet or create a new client in Envestnet (if they don't have an existing record there). You'll also want to choose which advisor you are doing this for from your options in the "Advisor" box.
When linking/creating a new client in Envestnet, the data that is sent from Redtail to Envestnet includes Member Type, First Name, Middle Name, Last Name, Date of Birth, Member Address, and Marital Status.
After a link is established to a record within Envestnet using one of these methods, your options will change the next time you access the Envestnet modal from that contact's record in Redtail:
At that point your options are to:
- Launch Household Summary - this takes you to their Household Summary within Envestnet
- Create New Proposal - this allows you to create a new account for the contact within Envestnet, pre-filling information from their Redtail record.
Update Household Member - there is no automatic sync process, so if contact information is updated in Redtail, you can use this button to update their information within Envestnet.
- Unlink Household - you can use this to "unlink" the record in Redtail from the record in Envestnet.
If you are looking for more Financial Planning Tools, click here. If you are looking for more Portfolio Management tools, click here.