The PMC Liquid Alternatives Program was designed to help advisors identify high-performing liquid alternative strategies, mainly in mutual funds and exchange-traded funds.

"PMC enables advisors to access a range of pre-screened, vetted alternative investment products across a wide range of styles," said Brandon Thomas, Envestnet's co-founder, managing director and chief investment officer.

The platform includes PMC's proprietary universe of more than 150 strategies across the alternatives spectrum, including long/short, merger arbitrage, absolute return, global tactical and others. PMC will review on an ongoing basis the alternatives landscape to add new strategies based on quantitative and qualitative screens.