Two practice management experts recently joined Envestnet to help independent wealth managers improve their business operations.

Matthew McGinness has joined Envestnet to lead an initiative aimed at improving clients' practice management strategies - a hot industry topic currently.

The program's architect, Jay Hummel, joined the wealth tech provider in late 2014 as a senior vice president in the advisor services group.

McGinness, whose title is managing director of strategic consulting for enterprises, will assemble a team of practice management experts to work with enterprise wealth management firms.

Meanwhile, Hummel will concentrate on improving the overall business operations of registered investment advisors.

McGinness was previously chief executive of the RIA First Allied Advisory Services, where he oversaw managed accounts, platform management and development, and advisory operations and sales.