BERWYN, PA — Envestnet recently announced an expansion of its Canadian wealth management business as financial firms prepare for new fee disclosure requirements that will take effect in 2027.
The company said it is increasing investment in its Canadian operations through leadership changes, platform upgrades and expanded portfolio management capabilities aimed at helping advisors comply with Canada’s upcoming Total Cost Reporting regulations.
The rules will require firms to disclose the full dollar cost of investment products and embedded fees to clients beginning in 2027, increasing pressure on advisors and institutions to modernize portfolio management systems.
As part of the expansion, Envestnet promoted David Kamerman to oversee strategic relationships and lead the company’s Canadian wealth technology business.
“As Total Cost Reporting reshapes the industry, advisors need practical ways to modernize how portfolios are constructed and managed,” Kamerman stated.
Envestnet said many firms are turning to Unified Managed Account platforms, or UMAs, to help advisors manage scalable model-based portfolios while providing greater fee transparency and performance oversight.
The company launched a direct indexing solution for Canadian registered firms in March 2025 that can operate within a UMA structure. Envestnet stated the platform has seen increased adoption among firms seeking tax-efficient and customizable portfolio strategies.
The company also plans additional enhancements supporting multi-currency portfolios for Canadian advisors.
Andrew Stavaridis, Envestnet’s chief relationship officer, described Kamerman’s promotion as part of the company’s broader expansion strategy in Canada.
“David’s promotion highlights our commitment to Canadian business and increased investment in this market,” Stavaridis stated.
Envestnet also pointed to partnerships with Canadian financial institutions, including Manulife Wealth, which has integrated expanded UMA access and portfolio management tools through Envestnet’s platform.
“The continuous improvements to the technology enable advisors to confidently build high-conviction, cost-efficient portfolios at scale,” Brittany Bascom, head of wealth investment office at Manulife Wealth in Canada, stated.
Envestnet said it continues to expand its Canadian client pipeline as firms seek technology platforms aimed at improving advisor productivity, portfolio management and regulatory compliance.
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