Envestnet

Envestnet Inc.
Envestnet
Public
Traded as NYSE: ENV
Russell 2000 Component
Industry Financial services
Founded 1999 (1999)
Founder Jud Bergman (CEO)
Bill Crager (President)
Headquarters Chicago, IL, U.S.
Area served
 Worldwide
Revenue US$ 683.7 million (2017)
Total assets Increase$1.082 billion(2018)[1]
Number of employees
  • Increase3,063 (2018)
Website envestnet.com

Envestnet (NYSE: ENV) is a provider of "intelligent systems" for wealth management and "financial wellness".[2]

History

Envestnet's strategy is to build a platform that offers the services and software that advisers need so they don't have to spend time and money doing it themselves.[3]

The company's initial public offering of stock filed on the NYSE and went public on 28 July 2010. It priced at $9; at the bottom of the range of $9-$10. The major underwriters were Morgan Stanley (MS), UBS AG (UBS), and Barclays (BCS). The company raised $63M by selling 7M shares[4]

In 2012 Envestnet purchased Tamarac for $54 million.[5]

In August 2015, Envestnet acquired Yodlee, a cloud-based data analytics company that provides account aggregation and various financial software, for $660 million.[6][7] In the same year, Envestnet also acquired online investment platform Upside in February and financial-planning software provider Finance Logix in May.[6] Envestnet stated that their main goal was to drive the acquisitions to provide a full suite of technology offerings for financial advisers.[6]

In November 2017, the company introduced a redesigned Tamarac platform.[8]

Products & Services

Envestnet, Inc., together with its subsidiaries, provides financial and wealth management software and services in the United States and internationally. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, and sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides a portfolio of accounting, rebalancing, trading, performance reporting, and client relationship management software, primarily to high-end registered investment advisers; Envestnet | Retirement Solutions , which offers a suite of services for advisor-sold retirement plans; and Envestnet | PMC (Portfolio Management Consultants) that provides research due diligence and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.[9]


References

  1. ↑ http://investor.envestnet.com/news-releases/news-release-details/envestnet-reports-first-quarter-2018-financial-results. Missing or empty |title= (help)
  2. ↑ "Envestnet Q1 earnings 2018".
  3. ↑ Malito, Alessandra. "Envestnet is the industry's 800-pound tech gorilla". www.investmentnews.com. Retrieved 2017-06-16.
  4. ↑ Renaissance Capital - IPO "Envestnet (ENV)"
  5. ↑ Shidler, Lisa (21 January 2013). "Top 12 Crucial Technology Happenings Affecting RIAs in 2012, Part 2". United States: RIABiz. RIABiz LLC. Retrieved 13 February 2017.
  6. 1 2 3 Malito, Alessandra. "Envestnet acquires data-analytics and account-aggregation company Yodlee". www.investmentnews.com. Retrieved 2017-06-16.
  7. ↑ http://fortune.com/2015/08/10/envestnet-buys-yodlee/. Missing or empty |title= (help)
  8. ↑ InvestmentNews. "Envestnet adds easier document storage to Tamarac". www.investmentnews.com. Retrieved 2018-01-12.
  9. ↑ "Envestnet Business Segments".


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