Envestnet

Envestnet Inc.
Envestnet
Public
Traded as NYSE: ENV
Industry Financial services
Founded 1999
Founder Jud Bergman (CEO)
Bill Crager (President)
Headquarters Chicago, IL, U.S.
Area served
 Worldwide
Total assets $421 million (2015)
Number of employees
  • Increase2,665 (2015)
Website envestnet.com

Envestnet (NYSE: ENV) provides unified wealth management technology and services to financial advisors and institutions. As of September 2016, Envestnet supports over 51,000 advisors, and 3.6 million investor accounts and over $1 trillion in total assets with almost $334 billion of fee‐generating assets under management (AUM) and assets under administration (AUA)

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.[1]

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[2]

In 2012 Envestnet purchased Tamarac for $54 million.[3]

In August 2015, Envestnet acquired Yodlee, a cloud-based data analytics company that provides account aggregation and various financial software.[4] In the same year, Envestnet also acquired online investment platform Upside in February and financial-planning software provider Finance Logix in May.[4] Envestment stated that their main goal was to drive the acquisitions to provide a full suite of technology offerings for financial advisers.[4]

References

  1. ↑ Malito, Alessandra. "Envestnet is the industry's 800-pound tech gorilla". www.investmentnews.com. Retrieved 2017-06-16.
  2. ↑ Renaissance Capital - IPO "Envestnet (ENV)"
  3. ↑ 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.
  4. 1 2 3 Malito, Alessandra. "Envestnet acquires data-analytics and account-aggregation company Yodlee". www.investmentnews.com. Retrieved 2017-06-16.


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