Envestnet Launches Custom Model Solutions for Advisers

Ten investment management firms are participating in new programs that let registered investment advisers and broker-dealers build customized portfolio models on Envestnet's platform.

Updated on Nov. 5, 2026 in Financial Planning

Envestnet Launches Custom Model Solutions for Advisers

Envestnet, headquartered in Berwyn, Pennsylvania, introduced Custom Model Solutions for registered investment advisers and Institutional Partner Models for broker-dealers. Ten investment management organizations are participating in the programs.

Why it matters

The programs are designed for advisory firms that want to expand their investment offerings without building additional portfolio management and operational infrastructure. They give advisers a way to shape how models are built while outsourcing execution and reporting.

The announcement names 10 participating investment management organizations, including BlackRock, Fidelity Investments and Goldman Sachs Asset Management. The extraction does not disclose enrollment numbers, assets under management or launch timing.

The players

Envestnet

Envestnet is a Berwyn, Pennsylvania-based financial technology company that provides wealth management software and portfolio infrastructure to advisory firms.

BlackRock

BlackRock is the world's largest asset manager, based in New York City, and one of the participating investment management organizations in the new programs.

Fidelity Investments

Fidelity Investments is a Boston-based financial services firm that offers brokerage, retirement and asset management products and is among the participating organizations.

Goldman Sachs Asset Management

Goldman Sachs Asset Management is the investment management division of Goldman Sachs and is one of the ten participating firms.

T. Rowe Price

T. Rowe Price is a Baltimore-based investment management firm known for its mutual funds and retirement products and is among the participating organizations.

The details

Under Custom Model Solutions, an adviser sets investment parameters that an asset manager uses to construct a strategy, and advisers review and approve models before implementation. Envestnet executes trades according to the adviser's direction, and participating asset managers may cover some or all of Envestnet's platform fees; certain programs also waive tax-overlay fees for RIAs.

Market Dynamics

The programs extend the platform-based managed account model that has grown among registered investment advisers, shifting model construction toward third-party asset managers working within a shared technology platform. This adds to a pattern in which advisory firms outsource portfolio management and operations rather than building them in-house.

For clients of participating advisory firms, the models their adviser uses may now be built by outside asset managers and executed through Envestnet's platform. Clients may see changes in fee structures where platform costs are covered by asset managers or tax-overlay fees are waived.

The takeaway

Investors working with a registered investment adviser can ask whether their portfolio models are built in-house or by third-party managers, and how platform and tax-overlay fees are handled. Understanding who builds and who executes a portfolio helps clarify what is being paid for.