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Richardson Wealth Ltd. is partnering with Envestnet to provide a unified managed account platform and portfolio management tools for the firm’s advisors. The deal was announced by Richardson Wealth’s parent firm RF Capital Group on Monday.

“Envestnet allows us to expand our definition of advice and address our clients’ entire financial lives in an intelligent, connected way,” said Kish Kapoor, president and CEO of RF Capital Group in a release. “This is a wonderful union of two like-minded companies.”

Richardson Wealth advisors will be able to use data analytics within Envestnet’s Enterprise Portal to provide “holistic, bespoke client solutions that are hyper-personalized,” RF Capital announced in the release. The partnership will also allow Richardson Wealth’s internal portfolio managers to integrate third-party discretionary accounts into diversified global portfolios “without the administrative burden typically associated with such integrations.”

According to the release, a committee of Richardson Wealth advisors across Canada “overwhelmingly” voted in favour of partnering with Envestnet.

RF Capital recently announced a five-year growth plan, anchored around “doubling down” on support for current advisors, including strengthening the client and advisor digital experience; boosting recruitment efforts; and partnering or acquiring third-party firms.

“We’re going to drive all initiatives that are designed to support [advisors] doing better here than anywhere else, and addressing things that are important to them, including investing in technology platforms that make sense to them,” Kapoor said during RF Capital’s first quarter conference call in May.