Dani Fava, the popular former TD Ameritrade Institutional product strategist who left the custodian to join Envestnet Inc., is getting her feet wet at her new job but has ideas for the future.
And she clearly sees the opportunity to look under the hood at Envestnet’s range of products and services and then decide how to transform them into new innovations that help advisers bring financial wellness to clients.
“Financial wellness for everyone,” said Fava, who will be taking on a newly created role as part of the recently established strategy office. “That’s the mission.”
Looking out a year or two, new technologies will likely focus on better use of data that Envestnet already has and can potentially use to empower financial advisers, she said in an interview for the InvestmentNews podcast, which was posted online today.
“It’s too early to tell, but I’ll tell you one piece that is standing out to me right now that is very interesting is the data,” she said. “Envestnet has a full ecosystem of data, and as the financial advice profession has progressed, it’s been increasingly important to see the clients’ total wealth picture in order to give them the best advice.”
She declined to outline any specific plans for her new role as she just started the job.
“Envestnet is so very powerful because of the data it possesses, and I think we’re going to move forward in our ability to include that data to empower financial advisers,” Fava said.
She also declined to comment about Charles Schwab Corp.’s $26 billion pending acquisition of TD Ameritrade Holding Corp. deal but praised TD Ameritrade’s culture and said Envestnet’s was similar.
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As our second lead editor, Cindy Hamilton covers health, fitness and other wellness topics. She is also instrumental in making sure the content on the site is clear and accurate for our readers. Cindy received a BA and an MA from NYU.