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Envestnet | Retirement Solutions Fiduciary Outsourcing Services Adopted by CDM Retirement Consultants

Partnership Makes New Fiduciary Solutions Available to Retirement Plan Financial Advisors and Sponsors

by Envestnet, Inc. - September 16, 2014


CHICAGO, Sept. 16, 2014 /PRNewswire/ -- Envestnet | Retirement Solutions (ERS), a majority owned subsidiary of Envestnet, Inc. (NYSE: ENV), and a leading provider of unified retirement technology and services to advisors, has now made its fiduciary services solution available to CDM Retirement Consultants, Incorporated ("CDM").

Based in Towson, Maryland, CDM is a leading provider of open architecture retirement plan solutions designed to meet the needs of plan sponsors and their participants. The addition of ERS's comprehensive fiduciary services offering reaffirms CDM's ongoing commitment to helping retirement plan-focused financial advisors access an extensive suite of solutions.

Changing market dynamics and evolving regulation around the role and definition of a fiduciary has led many plan sponsors to seek outside help from qualified professionals to ensure they are meeting their statutory and ethical obligations. ERS uses both qualitative and quantitative criteria and its proprietary SCORE methodology to examine the financial product universe to ultimately provide a workable subset of investments that allows participants to construct well-diversified portfolios.

"ERS works closely with our clients' trusted advisors to customize an investment menu in accordance with an Investment Policy Statement and then conducts ongoing investment research according to those criteria," said Chip Earle, Principal at CDM. "The result is an investment menu that is prudent, thoughtful, and appropriate for plan participants. For plan sponsors, working with a retirement expert not only reduces risk, it gives them more time to focus on running their business."

"CDM is an innovator in their approach to servicing retirement plans, and we believe our fiduciary services are a strong complement to their retirement plan platform," said Babu Sivadasan, Group President ERS. "Outsourcing the investment selection and monitoring duties doesn't just give plan sponsors more time to work on their businesses, it also gives advisors more time to work with their plan sponsor clients."

Envestnet Retirement Solutions delivers innovative fiduciary services to the retirement plan marketplace. Powered by technology, institutional-caliber research, and an experienced staff of investment professionals, ERS helps enhance the plan sponsor-plan advisor relationship with fiduciary support and regular, dependable investment monitoring.

ABOUT ENVESTNET | RETIREMENT SOLUTIONS

Envestnet, Inc. (NYSE: ENV) is a leading provider of unified wealth management technology and services to investment advisors. Our open-architecture platforms unify and fortify the wealth management process, delivering unparalleled flexibility, accuracy, performance and value. Envestnet solutions enable the transformation of wealth management into a transparent, independent, objective and fully-aligned standard of care, and empower advisors to deliver better outcomes.

Envestnet | Retirement Solutions (ERS), a subsidiary of Envestnet, Inc. provides retirement advisors with an integrated platform that combines one of the industry's leading practice management technology, research and due diligence, data aggregation, compliance tools and intelligent managed account solutions. ERS leverages Envestnet's advanced capabilities and resources, along with its experience in investment research, portfolio construction and investment management, to meet the specialized needs of each retirement plan stakeholder, from plan participants to sponsors, advisors to home offices and record keepers to DCIOs.

For more information on Envestnet Retirement Solutions, please visit www.envestnet.com.

ABOUT CDM RETIREMENT CONSULTANTS

CDM Retirement Consultants, Inc. is an independent, non-producing provider of open architecture retirement plan solutions designed to meet the objectives of plan sponsors and their participants.

Since its inception in 1998, CDM has grown to provide full service, comprehensive recordkeeping and expert administration to over 500 retirement plan clients comprised of some 40,000 participants in plans that range in size from startups to $50 million. Assets under administration are approximately $1.9B. CDM employs 29 industry professionals and undergoes a rigorous, SOC 1 (SSAE- 16) each year. Through a unique, Single-Point-of-Contact service model, from industry accredited (QKA) professionals, CDM offers custom solutions and consultation to plan sponsors with personal, pro-active attention.

For more information contact Tom Rouse at 443 797-1057 or at trouse@cdmretirement.com.

CONTACT: Laura Simpson
Jennifer Connelly Public Relations
(973) 850-7319
lsimpson@jcprinc.com

 

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