“The next evolution of business – not just wealth management, but all business – is that we can now get realtime feedback and use data to create efficiencies, increase profitability and produce better outcomes for clients in ways that we weren’t able to before,” he said. “That’s why we’re excited about this partnership.

“At Envestnet, (late CEO) Jud Begman and (current CEO) Bill Crager have talked about the Kasparov principle, named after chess grandmaster Gary Kasparov. The principle is that machine plus human is stronger than human and human, or machine and machine. If you have integrations and great technology, you’re now in a place where you can operate extremely efficiently, and that’s the exciting next act of wealthtech.”

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