The integration will now allow registered investment advisors using GBI’s advisor platform (GBIA) to buy, sell and store physical precious metals to automatically stream performance data from a client’s holdings into their Envestnet reports and to view the precious-metals allocations alongside an overall investment portfolio. This marks the first time physical precious metals holdings will be reported through any advisory software, including Envestnet’s.
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"In an increasingly competitive advisory space, access to alternative investments like physical precious metals provides a real advantage for advisors who are looking to diversify their clients’ portfolios out of traditional assets," said Steven Feldman , CEO of GBI. "In collaboration with Envestnet, we are pleased to offer advisors a new way to provide a holistic view of performance across investment portfolios."
Advisors using GBIA can buy, sell and store physical precious metals on behalf of their clients. Leveraging Gold Bullion International’s proprietary technology, orders are placed for competitive bid by the firm’s network of dealers and refiners, ensuring that both advisors and their clients receive competitive pricing. Precious metals including bars and coins of gold, silver, platinum and palladium can be stored in six global, insured vaults operated by Brinks, Via-Mat, and Malca Amit and are also allocated to the client’s name, unlike traditional bank and dealer processes, and unlike the precious metals ETFs.
"Advisor-client communication continues to be a core element of a successful practice," said James Patrick , Managing Director, Advisor Managed Program of Envestnet. "Our reporting arrangement with GBI is a natural extension of our efforts to empower advisors with the information, opportunities and operational efficiencies they need to communicate and compete."
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