Envestnet Expands B2B Commitment to Canada, Empowering Advisors to Navigate New Total Cost Reporting Requirements

Platform Features Enhanced Capabilities With New Multi-Currency Wealth Trading Tools, Data Insights & Scalable Portfolio Construction

David Kamerman Promoted to Lead Strategic Relationships and Envestnet’s Canadian WealthTech Business

Envestnet, the leading Adaptive WealthTech company, announced the expansion of its B2B commitment to the Canadian market through continued investment, enhanced leadership, and new platform capabilities designed to support wealth management firms ability to scale and grow in a more transparent regulatory environment. As part of this, David Kamerman has been promoted to lead strategic relationships and the firm’s Canadian wealthtech business, underscoring Envestnet’s continued investment in leadership and its commitment in Canada.

The firm’s Canadian operations are focused on equipping advisors with solutions to navigate Canada’s new Total Cost Reporting requirements, which will require firms to disclose the full cost of investment solutions to clients in dollar terms beginning in 2027.

Canadian Total Cost Reporting rules mandate that financial services firms disclose all fees for investment funds, both direct and embedded, in dollar amounts in annual reports for clients. These reports will include a breakdown of Fund Expense Ratio and are designed to visualize the total impact of fees for clients. As firms prepare for these enhanced transparency requirements, many are turning to Unified Managed Account (UMA) platforms to enable advisors to build and manage model-based portfolios that are scalable, actively monitored, and aligned with evolving client expectations around cost and performance.

“We are proud to be expanding our commitment to Canada and partnering with financial institutions across the country to prepare their businesses for evolving regulatory requirements,” said David Kamerman, CFP®, Principal Director, Head of Canadian Business Development. “As Total Cost Reporting reshapes the industry, advisors need practical ways to modernize how portfolios are constructed and managed. Our Unified Managed Account platform empowers advisors to build model-based, cost-conscious, high-conviction portfolios at scale helping them deliver stronger client outcomes while running more efficient businesses.”

In March 2025, Envestnet launched the first-of-its-kind Direct Indexing (DI) solution that can be held in a UMA. This DI service is made available through Canadian registered firms, which hire Envestnet as a sub-advisor. The solution has seen growing adoption among firms and advisors seeking more tax-efficient and customizable portfolio solutions, while Envestnet’s data insights and analytics are empowering both advisors and firms to better serve their clients with clear, actionable intelligence.

As part of our continued investment in the Canadian market, Envestnet recently appointed David Kamerman to lead our business in Canada, where he also serves as Strategic Relationship Manager for our Canadian clients. In this role, David is focused on deepening client partnerships and ensuring firms fully realize the value of Envestnet’s Adaptive WealthTech platform and capabilities.

Envestnet continues to expand its technology and solutions roadmap in Canada, including further enhancements to support multi-currency portfolios to better serve the needs of Canadian advisors. These innovations build on Envestnet’s broader, multi-year investment in platform capabilities designed to help firms deliver more personalized, scalable, and transparent investment solutions for their clients.

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“Envestnet continues to raise the bar for wealth management in Canada by supporting advisors as they construct and manage portfolios,” said Andrew Stavaridis, Chief Relationship Officer of Envestnet. “David’s promotion highlights our commitment to Canadian business and increased investment in this market. Through his leadership, we stand out by helping advisors adopt innovative solutions and improve outcomes.”

Canadian financial services professionals who are attending Envestnet Elevate 2026, taking place May 19-20 at the Phoenix Convention Center in Phoenix, AZ, can register for a special dinner for Envestnet’s Canadian clients, hosted by Mr. Kamerman and our sponsors. For more information, please visit https://www.envestnet.com/event/elevate/agenda/?tab.day=20260518#/.

“Envestnet has provided enhancements to the Manulife Wealth advisor experience including broadening access to unified managed account (UMA) platforms and model portfolios – in addition to portfolio management tools through Envestnet’s Wealth Platform,” said Brittany L. Bascom, Head of Wealth Investment Office at Manulife Wealth in Canada. “The continuous improvements to the technology enable advisors to confidently build high-conviction, cost-efficient portfolios at scale, giving them greater flexibility, control, and time to focus on client relationships.”

Envestnet partners with many of Canada’s leading financial institutions and continues to expand its footprint, with a growing pipeline of firms seeking to leverage its platform to drive scale, efficiency, and advisor productivity.