Envestnet Offers Social Screens

Envestnet Asset Management Inc. said Monday that it has made additions to its Sustainability Platform that will let advisers customize traditional separately managed accounts and unified managed accounts with socially responsible screening tools.

The new tools, the SRI Personal Conviction Screens, are made up of 17 screens categorized into two levels of criteria: SRI Best-in-Class and SRI Strict, Envestnet said.

Both screens can be used to exclude companies that derive significant amounts of revenue from or have poor standing in areas such as alcohol, animal welfare, customer rights, employee rights, environment, firearms, gambling, human rights, military weapons, nuclear power, tobacco, abortion, adult entertainment, contraceptives, embryonic stem cell/fetal tissue, usury, and land mines, the Chicago company said.

Envestnet had $81 billion of assets under management as of Sept. 30.