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Advisory SolutionsFirm Update

Illuminations Advisory Fee Payments: 5 Things to Know

By December 22, 2025No Comments

Q1 2026 | Envestnet → FMAX Transition

As we prepare to transition the Illuminations advisory platform from Envestnet to FMAX in Q1 2026, we want to clearly outline what to expect regarding account activity, billing, and advisory fee payments. 

1. Temporary Blackout Period: January 12–24, 2026

  • During this period, no new Illuminations accounts can be opened and no deposits can be made into existing Illuminations accounts
  • This pause ensures a smooth and accurate platform transition

Have business in flight?
If you need to fund accounts or initiate transfers during the blackout:

  • Contact the Illuminations Support Desk at 800 344 7437

We can help:

    • Set up a temporary brokerage account to receive funds
    • Transition the account to managed status after conversion

2. Billing Method Will NOT Change

  • Accounts billed in arrears today will remain billed in arrears
  • Accounts billed in advance today will remain billed in advance
  • No advisor action is required

3. Advisory Fee Payments to Advisors

  • ESI will pay advisory fees on the normal schedule
  • Fees are expected to be paid to the field the week of January 27, 2026

4. What Clients Will See on Their Statements (Important)

During Q1 2026, clients will see two advisory fee deductions on their statements:

  • One from Envestnet
  • One from FMAX

This does NOT mean they are being charged more.
The total fees will still reflect only the actual number of days in the quarter, split between the two platforms due to timing of the conversion.

5. How Billing Works by Account Type

Accounts Billed In Arrears

  • January 12, 2026
    Envestnet bills:

    • Full Q4 2025 advisory fees (normal arrears billing)
  • Post-Conversion
    FMAX bills:

    • Remaining Q1 2026 fees in arrears
    • Q2 2026 fees per the normal billing cycle

Accounts Billed In Advance

  • January 26, 2026
    Envestnet bills:

    • Advance fees for the first 23 days of Q1 2026 (pre-conversion)
  • February 10, 2026
    FMAX bills:

    • Advance fees for the remaining days of Q1 2026 (post-conversion)
  • Q2 2026
    FMAX bills advance fees per the normal billing cycle

——————————————————————————————————-

2026 Important Dates Summarized

Jan 12

  • Envestnet bills Q4 fees (arrears)

Jan 12–24

  • Account blackout period

Jan 26

  • Envestnet bills advance fees (first 23 days of Q1)

Jan 27

  • Advisor fee payments released (normal schedule)

Feb 10

  • FMAX bills remaining Q1 fees (advance accounts)

Ongoing

  • FMAX bills Q1 (arrears) and Q2 fees normally