Envestnet Asset Management Inc. of Chicago announced it enhanced its unified managed account platform to let advisers build customized UMA's from more than 1,200 investment products.

Advisers can use Envestnet's platform to build UMAs for clients with a minimum investment of $150,000.

Advisers now have the ability to fine tune their own UMA models to meet the needs of their clients for multimillion-dollar accounts as well as for accounts of as low as $150,000.

Advisers have access to 27 asset classes and can use applications for socially responsible investing screens, tax-sensitive management and systematic income withdrawals. Envestnet also introduced an easier account opening process through a single brokerage account.

Envestnet, which had $65 billion of assets under management on March 31, made the announcement Monday.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.