TAPP Engine, a provider of embedded digital wealth technology for credit unions and community banks, is adding Envestnet's ActivePassive ETF model portfolios to its digital investing platform.
The partnership will combine TAPP Engine's white-label investing platform with Envestnet's portfolio construction and asset allocation capabilities, allowing financial institutions to offer digital investing experiences within their existing banking environments.
TAPP Engine said the integration is designed to support goals-based investing experiences, enabling institutions to provide personalised investment options aligned with members' financial goals and risk preferences.
The move comes as credit unions and community banks look to expand digital wealth offerings and provide investing capabilities alongside existing banking services. TAPP Engine said the addition of Envestnet's portfolios will support greater customisation within its platform.
TAPP Engine's platform includes self-directed brokerage accounts, goals-based automated investing, fractional share investing, commission-free equity trading, digital account opening, single sign-on integration, custody and clearing services, and investor education resources.
TAPP Engine provides embedded digital wealth infrastructure that enables credit unions, community banks, broker-dealers and financial institutions to offer investing services under their own brands. Brokerage services are provided through TAPP Engine Securities, an SEC-registered broker-dealer and FINRA and SIPC member, while advisory services are provided through TAPP Engine Advisors, an SEC-registered investment adviser.
Envestnet provides wealth technology and investment solutions for financial institutions, advisors and investors. The company said it supports more than a third of financial advisors across banks, wealth managers, brokerages and registered investment advisers.
TAPP Engine Securities and TAPP Engine Advisors president Mark Guglielmo said, 'Our mission has always been to help financial institutions deliver modern digital wealth experiences that strengthen member relationships and support long-term financial wellness.
'Working with Envestnet allows us to help credit unions and community banks deliver a more customized goals-based investing experience that keeps the member's financial journey connected to the institution they trust most,' Guglielmo added.
Envestnet group head of investment management Erik Preus commented, 'For decades, Envestnet has helped shape how advisors think about combining active and passive investing to build better portfolios.
'This collaboration brings that investment discipline to TAPP Engine, giving credit unions and community banks access to institutional-quality ETF portfolios grounded in rigorous research and disciplined portfolio construction,' he said.