Latest news with #FidelityInvestments
Yahoo
6 days ago
- Business
- Yahoo
ENVESTNET EXPANDS ACCESS TO ALTERNATIVES WITH INTEGRATED MODELS AND ADVISOR-TRADED CAPABILITIES
New Functionality, Model Portfolios, And Integrations Democratize Access to Alternative Investments at Scale with Leading Asset Managers – BlackRock, Fidelity Investments, Franklin Templeton and State Street BERWYN, Pa., June 18, 2025 /PRNewswire/ -- Envestnet, a leading provider of integrated technology, intelligent data, and wealth solutions, announced today a major advancement to its alternative investment capabilities— professionally managed model portfolios with semi-liquid alternative allocations and alternative ETFs developed in partnership with some of the industry's leading asset managers and available through Envestnet's Unified Managed Account (UMA) platform. This initiative is one of several steps Envestnet is taking to facilitate access to semi-liquid and illiquid investments at scale—empowering financial advisors to deliver modern, highly personalized portfolios that reflect today's evolving market realities. As the number of publicly traded companies continues to shrink—from approximately 8,800 in the mid-1990s to around 5,400 today—more value creation is shifting to the private markets. In this environment, access to non-traditional assets offers a critical pathway to diversification and long-term portfolio growth beyond the constraints of traditional 60/40 portfolios. "As innovation and growth continue to shift to the private markets, advisors need access to a broader set of tools to deliver truly diversified portfolios," said Dana D'Auria, Group President, Envestnet Solutions and Co-Chief Investment Officer at Envestnet. "Alternatives—including real estate, infrastructure, private equity, private credit and hedge funds—offer unique sources of return and the potential for higher yield and, in some cases, lower correlation to traditional assets." Professionally Managed Alternative Investment Model Portfolios To meet growing demand for access to alternative investments, Envestnet is delivering a modernized, flexible approach to integrating alternatives into client portfolios. Through partnerships with BlackRock, Fidelity Investments, Franklin Templeton, State Street Global Advisors and Envestnet | PMC, Envestnet is launching professionally managed model portfolio strategies with allocations to semi-liquid alternatives and alternative ETFs. These solutions are designed to help advisors deliver greater diversification, income, and long-term growth potential while maintaining operational simplicity. "At BlackRock, we consistently hear three key needs from advisors – their clients are seeking portfolios that generate income from non-traditional sources, they want easier access to private markets and the ability to personalize with separately managed accounts," said Eve Cout, Head of Solutions for BlackRock's U.S. Wealth Business. "The ability to do all of this - backed by BlackRock's portfolio construction expertise - and deliver it through a custom model portfolio on Envestnet's platform will redefine how advisors can deliver income solutions to meet today's evolving client needs." "As advisors navigate an evolving product landscape, Fidelity has been a leader in building customization at scale and portfolio construction capabilities," said Jordan Burgess, head of Wealth Advisory Managed Solutions at Fidelity Investments. "Through this strategic relationship with Envestnet, Fidelity now offers open-architecture custom model portfolios for eligible wealth management firms that can provide exposure to private markets, backed by our institutional research and investment management experience." "We are thrilled to collaborate with Envestnet to bring advisors professionally managed model portfolios that seamlessly integrate semi-liquid private assets alongside traditional investments, said Dave Donahoo, Head of Americas, Wealth Management Alternatives at Franklin Templeton. "This initiative provides advisors with institutional-grade managed solutions backed by the expertise of Franklin Templeton Investment Solutions, while leveraging Envestnet's platform for a streamlined client experience. Together, we are empowering advisors to deliver diversified, modern portfolios to meet clients' evolving needs with precision and efficiency." "At State Street Global Advisors, we are committed to providing investors with innovative and transparent exposures to markets that have historically had high barriers to entry," said Allison Bonds Mazza, Senior Managing Director, Head of Intermediary at State Street Global Advisors. "We are working with leading investment managers and business partners in the alternatives space to continue the mission of democratizing private market exposures. Through our Premier Partnership with Envestnet, we are able to deliver these solutions to advisors and their clients at scale in a seamless, integrated, and frictionless way." "Through Envestnet's technology, we're making alternatives more accessible than ever," said Aaron Bauer, Head of Strategic Partnerships for Envestnet. "We are strengthening our alternative investment infrastructure and capabilities by integrating with leading asset management partners to broaden the range of alternative investment data available to advisors across our platform. This is about putting institutional-grade solutions into the hands of more advisors, at scale, and enabling true point-and-click simplicity." Seamlessly Allocate to Interval Funds Through Envestnet's UMA Platform by the end of 2025 Whether through advisor-traded sleeves, or fully managed models with semi-liquid strategies already embedded, advisors can now integrate alts directly into the portfolios they manage on Envestnet's platform. A long-time industry pioneer in delivering sophisticated investment solutions to advisors, Envestnet first integrated CAIS into its Tamarac platform in 2016 to offer access to alternative strategies. This foundation expanded in 2022 with the addition of iCapital, bringing enhanced reporting capabilities for illiquid alternatives. In 2023, Envestnet deepened its partnership with iCapital by launching a structured investments program that streamlined the entire proposal-to-execution workflow, while equipping advisors with powerful data and analytics tools, and in 2024 created access to iCapital's Marketplace through a revamped SSO connection. In 2025, Envestnet further extended its alternatives ecosystem by welcoming Arch and Canoe Intelligence as reporting partners—broadening the scope and depth of its private market data infrastructure. Today, Envestnet continues to prioritize transparency, scale, and advisor efficiency through these integrated partnerships with Arch, CAIS, Canoe Intelligence and iCapital. Together, they enable advisors to aggregate alternative investment statements, automate and track capital calls, and generate actionable insights across private markets portfolios—with the same ease and confidence as managing traditional assets. These capabilities reflect Envestnet's commitment to empowering advisors with a fully connected, end-to-end alternatives experience. In addition, Envestnet is investing heavily in due diligence to bring institutional-quality solutions to advisors and help them personalize portfolios with precision, confidence, and care. To learn more, visit ABOUT ENVESTNETEnvestnet is helping to lead the growth of wealth managers and transforming the way financial advice is delivered through its ecosystem of connected technology, advanced insights, and comprehensive solutions—backed by industry-leading service and support. Serving the wealth management industry for 25 years with approximately $6.5 trillion in platform assets, Envestnet technology and services are trusted by more than one-third of all financial advisors. Many of the largest U.S. banks, wealth management and brokerage firms, and RIAs depend on Envestnet to help drive business growth and productivity—and deliver better outcomes for their clients. For a deeper dive into how Envestnet is shaping the future of financial advice, visit Stay connected with us for the latest updates and insights on LinkedIn and X (@Envestnet_). Envestnet refers to the family of operating subsidiaries of the holding company, Envestnet, Inc. Disclosures:Fidelity Investments® is an independent company, unaffiliated with Envestnet Inc. ("Envestnet"). Fidelity Investments is a service provider to Envestnet. There is no form of legal partnership, agency affiliation, or similar relationship between Envestnet and Fidelity Investments, nor is such a relationship created or implied by the information herein. Fidelity Investments is a registered trademark of FMR LLC. Fidelity Investments® provides investment products through Fidelity Distributors Company LLC; clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC; and institutional advisory services through Fidelity Institutional Wealth Adviser LLC. Envestnet is providing this endorsement in connection with a strategic partnership we have entered into with BlackRock, SSGA, Fidelity, and the affiliated registered investment advisers of Franklin Templeton (each a "Premier Partner"). The Premier Partners will pay Envestnet compensation for this endorsement, which creates an incentive for Envestnet to recommend Premier Partners to you, resulting in a material conflict of interest for Envestnet. For more information regarding the Premier Partner compensation to Envestnet and related conflicts, please see Envestnet's Form ADV Part 2A. This release refers to information, products or services that may be in development and not yet available. Accordingly, nothing herein should be construed as a representation or legal agreement by Envestnet to make available specific products or services (including, without limitation, concepts, systems or techniques.) View original content to download multimedia: SOURCE Envestnet
CNBC
17-06-2025
- Business
- CNBC
Long end of the curve more important than Fed rate decision, says Fidelity Investments' Jurrien Timmer
Jurrien Timmer, director of global macro at Fidelity Investments, joins 'Squawk on the Street' to discuss the markets as stocks fall amid the escalating Israel-Iran conflict and weak retail sales ahead of the Fed meeting.
Economic Times
14-06-2025
- Business
- Economic Times
Started with only Rs 1700, IITian and tech titan Nikesh Arora rose to outearn Mark Zuckerberg and Sundar Pichai
In 2023, Nikesh Arora, CEO of Palo Alto Networks and an IIT-BHU graduate, earned more than tech giants Mark Zuckerberg and Sundar Pichai. His rise to the top followed over 400 job rejections, financial struggles, and a career spanning Fidelity Investments, Google, and SoftBank. Since joining Palo Alto in 2018, he has scaled the company from a $18 billion valuation to over $100 billion by focusing on cloud security, AI, and innovation. Tired of too many ads? Remove Ads Humble Beginnings in India Tired of too many ads? Remove Ads Career Struggles and Breakthrough At Google and SoftBank Leading Palo Alto Networks On AI and India's Opportunity When tech giants like Meta and Google made headlines for massive layoffs and changing leadership trends, one Indian-origin executive quietly outshone some of the biggest names in Silicon Valley. Nikesh Arora , the CEO of cybersecurity company Palo Alto Networks, earned more in 2023 than both Mark Zuckerberg and Sundar Pichai—an achievement that might surprise many unfamiliar with his journey. But behind that headline-making number lies a story of perseverance, rejection, and a steady climb from modest beginnings to one of the highest echelons in the global tech The Wall Street Journal released its 2023 rankings of the highest-paid CEOs, among the top earners was Nikesh Arora, the Indian-origin CEO of Palo Alto Networks, who secured the second spot with a total compensation of $151.43 million. His earnings significantly surpassed those of major tech leaders, including Meta's Mark Zuckerberg, who earned $24.40 million, and Google's Sundar Pichai, who received $8.8 a detailed and candid conversation with Humans of Bombay, Arora opened up about the struggles and turning points that shaped his journey—from humble beginnings in Ghaziabad to leading one of the world's top cybersecurity journey to the top of the tech industry began in Ghaziabad, Uttar Pradesh, where he was raised in a disciplined household shaped by his father's career in the Indian Air Force. His upbringing, marked by frequent relocations, instilled a deep sense of adaptability and integrity in him from an early age. After finishing school at The Air Force School, he pursued engineering at financial limitations, Arora set his sights on the United States for further studies. With only $100 (around Rs 1700 in 1990) in hand, he applied to universities that waived application fees. Bostons' Northeastern University granted him a scholarship in 1990 and even offered him the chance to teach computer science—something he quickly had to learn to accept the graduating, Arora faced a daunting phase—rejected over 400 times by various companies. He kept every rejection letter, using them as motivation. His breakthrough came in 1992 when he landed a role at Fidelity Investments. Starting from entry-level positions, he worked his way up to become Vice President at Fidelity later earned both an M.S. in Finance and a CFA certification, which significantly broadened his career options. Teaching a CFA course eventually connected him to an opportunity at joined Google in 2004, a few months after its IPO. Over the next decade, he played a key role in growing its revenues from $2 billion to over $60 billion. Describing it as 'like being in a rocket ship,' Arora left in 2014 in search of a new challenge came at SoftBank, where he served as President and COO. His time there brought significant learnings, including the importance of knowing when to walk away from underperforming investments—something he applied while choosing not to back WeWork. Arora eventually exited SoftBank in 2016 when CEO Masayoshi Son postponed his planned 2018, after a sabbatical spent attempting (and failing) to improve at golf, Arora took over as CEO of Palo Alto Networks. At the time, the company was valued at $18 billion. Under his leadership, it has grown to over $100 billion, driven by a strategic push toward cloud security and artificial credits this success to early adoption of emerging technologies and a willingness to acquire or partner when internal development wasn't feasible. His focus on innovation has kept Palo Alto competitive in an increasingly complex cybersecurity has spoken about how scarcity in his youth shaped his resourcefulness and approach to leadership. He sees AI as a transformative force and believes India's strength lies in adapting global technologies to local contexts. According to him, real value in AI will come from localised data and domain-specific knowledge—areas where Indian companies have a natural story—marked by rejection, resilience, and reinvention—continues to resonate, especially in India. His rise shows that success doesn't always follow a linear path. As he told Humans of Bombay, 'Nobody likes rejection… But part of growing up in India is believing in destiny. It helps you rationalise failure. Everything happens for a reason.'
NDTV
14-06-2025
- Business
- NDTV
400 Job Rejections To $130 Billion Firm: Palo Alto CEO Nikesh Arora's Journey
Nikesh Arora, the CEO of cybersecurity firm Palo Alto Networks, might be helming a $130 billion company at the moment but the road to glory wasn't easy. Mr Arora said that after graduation, he would write letters to multiple companies in search of jobs; all he received in return were rejection letters, in a conversation with Human of Bombay. Opening up about the early struggles in his career when he faced as many as 400 rejections, Mr Arora said that he didn't lose hope and eventually got a job at Fidelity Investments. And while he knows what success feels like, he still keeps those rejection letters in his closet, reminding himself he has to keep moving forward. Born in Ghaziabad, Uttar Pradesh, Mr Arora completed his graduation in engineering from IIT-BHU, and then, earned degrees from Boston College and Northeastern University in the US. He said he barely had $100 when he started looking for higher education. So, he decided to aim for institutions that waived application fees. Mr Arora said that Northeastern University offered him a scholarship but offered him to opt for computer science, so he had no other option but to accept it. In 1992, he joined Fidelity Investments, where he held various positions before eventually rising through the ranks to become the Vice President. Even though people told him he wasn't fit for finance, he didn't give up; instead, he chose to earn a master's degree and get a CFA certification, which helped him land a job at Google in 2004. Mr Arora spent a decade at Google and called his journey "amazing." Asked what made him leave Google, he said, "It was time to move on and I wanted to do something different." He moved to SoftBank, where he was chosen by CEO Masayoshi Son as the company's President and COO. However, he had to leave the company after 2.5 years because Mr Masayoshi was expected to retire at age 60 as part of a 10-year life plan. He joined Palo Alto in 2018 after taking a sabbatical, spending his time playing golf. "I got worse at it. I realised I needed to sink my teeth into something," he laughed. At the time when Mr Arora joined, Palo Alto was valued at around $18 billion. As of today, it's approximately $118 billion.
Yahoo
12-06-2025
- Business
- Yahoo
We're saving almost enough in our 401(k) retirement plans. Here's the magic number.
After years of fitful progress, Americans with 401(k) accounts are finally saving enough for retirement – almost. That's the takeaway from the latest retirement savings report from Fidelity, a leading plan manager. In the first three months of 2025, the total 401(k) savings rate on Fidelity plans reached 14.3%. That's an all-time high, and it approaches the 15% benchmark that many financial advisers set for optimal retirement savings. A decade ago, in the first quarter of 2015, employees contributed 8.1% of their pre-tax pay to 401(k) plans, according to Fidelity data. Employers kicked in 4.4% in matching contributions, for a total savings rate of 12.5%. In the first quarter of 2025, by contrast, employees saved 9.5% of their salaries, and employers matched 4.8%, for a total savings rate of 14.3%. Retirement planners recommend a 15% contribution rate to 401(k) plans on this theory: If you save at least that much throughout your working years, you'll have enough to live comfortably in retirement. 'It's basically the rate that we recommend that will allow you to live the same lifestyle in retirement that you did before you retired,' said Mike Shamrell, vice president of thought leadership at Fidelity Investments. The gradual ramp-up in 401(k) contribution rates reflects several positive trends in the retirement savings industry, Shamrell said. The 4.8% employer match is an all-time high. Employers increasingly offer to match at least 5% of a worker's pay in 401(k) contributions, as a way to attract and retain good employees. A common formula matches the first 3% of salary dollar for dollar, and 50 cents on the dollar for the next 2%. 'That's basically free money for saving for retirement, and that is something that employees value,' said Mindy Yu, senior director of investing at Betterment, the online investment manager. Another big trend to influence 401(k) contribution rates is auto-enrollment. Starting in 2025, most new 401(k) plans must automatically enroll employees, rather than leave the decision to workers. Many older 401(k) plans are voluntary, meaning that employees must sign up to participate. Under auto-enrollment, an employee who does nothing opts in. More than one-third of Fidelity plans now auto-enroll employees in 401(k)s at a contribution rate of 5% or higher. 'Unless a new hire takes action, they're going to be saving for the plan,' said Rob Austin, head of thought leadership at Alight Solutions, a human capital technology and services provider. 'That's much different than how 401(k)s first started, and you had to enroll on your own.' Another evolving feature allows employees to automatically increase 401(k) contributions from year to year. Nearly three-quarters of Fidelity plans now have an auto-escalation feature. Retirement plan contributions are rising at a moment when tax-advantaged retirement savings seems to be catching on in the American workplace. Half of all private-sector workers now participate in 401(k)-type plans, up from about two-fifths of employees in 2010, federal data shows. Some retirement experts see 50% participation as a retirement-savings tipping point. More private-sector Americans are participating in 401(k) plans, at least in part, because more employers are offering them. Between 2014 and 2024, employee access to 401(k)-style plans rose from 60% to 70%, according to the Bureau of Labor Statistics. Those positive signs are important, retirement experts say, because many Americans fail to save for retirement. The wealthiest Americans are the most likely to amass retirement savings. For households in the top 10% by income, the median retirement account held $559,000 in 2022, according to the federal Survey of Consumer Finances. An overwhelming 93% of those households held retirement accounts. For middle-income Americans, those in the 40th to 60th percentile by income, the median retirement plan held just $39,000, and nearly half of that group had no retirement accounts. Many smaller employers don't offer 401(k) plans. Nearly half of workers have no access to any retirement plan at work, according to an AARP analysis. Americans achieved a record rate of 401(k) savings at a time when their account balances were slipping. Average 401(k) balances fell by 3% from late 2024 through early 2025, to an average value of $127,100, Fidelity reports. The decline came during a span of market volatility as President Trump took office and launched a trade war. If 401(k) contribution rates continue to rise, investment experts say, one reason will be good savings habits among younger workers. The total 401(k) savings rate for Generation Z workers is 11.2%, Fidelity reports, not far behind the savings rates for Millennials (13.5%) and Generation X (15.4%). The savings rate for young adults is significant, because Gen Z is decades away from retirement. 'I think most of the newer, younger cohorts are in this environment where they learn that they need to be saving a lot,' Austin said. Younger workers know about the decline of pensions as a source of retirement income, and the possibility that Social Security will face a shortfall when they retire. 'Shortfall risk is very real,' Yu said. Younger workers are more likely than older workers to contribute to a Roth 401(k), Fidelity data shows. Those workers are effectively contributing at a higher rate, Austin said, because Roth contributions have already been taxed. This article originally appeared on USA TODAY: We're saving almost enough in our 401(k)s. Here's the magic number. Sign in to access your portfolio
