Since our founding 25 Years ago, Envestnet has and will continue to be a champion for financial professionals. We are guided by our mission to deliver the technology, solutions and intelligence advisors need to drive better financial outcomes – and ultimately, make financial wellness a reality for everyone.
Since our founding 25 Years ago, Envestnet has and will continue to be a champion for financial professionals. We are guided by our mission to deliver the technology, solutions and intelligence advisors need to drive better financial outcomes – and ultimately, make financial wellness a reality for everyone.
Our unified advice platform and financial wellness network empower advisors to expand their definition of advice and address their clients’ whole financial lives.
Thank you
for supporting us over the years as we work together to help to improve the lives of more people.
Jud Bergman was the Chairman and Chief Executive Officer of Envestnet, Inc. He was a remarkable leader whose vision, brilliance and drive built the roadmap for our company’s success.
Bill Crager
Strategic Advisor, Co-Founder, Former Chief Executive Officer
As Strategic Advisor for Envestnet, Bill Crager plays a key role nurturing client and partner relationships, leaning in on strategic initiatives and serving as an advocate for advisors and the wealth management industry.
James Lumberg
Co-Founder, Emeritus
Jim co-founded Envestnet and served as its Executive Vice President for the first 25 Years of the firm’s growth and innovation. Highlights of Jim’s tenure include building and leading one of the Industry’s largest impact investing programs, and developing Envestnet’s services for mission-based foundations and endowments. Today, as Co-Founder Emeritus, Jim has established a new firm, SouthCol Advisors. In collaboration with Envestnet, SouthCol is developing solutions that advance the firm’s commitment to financial wellness.
Brandon Thomas
Chief Investment Officer
Mr. Thomas co-chairs the PMC Investment Committee, and has responsibilities that include the development and implementation of PMC’s investment policy.
Envestnet was founded by Jud Bergman, Bill Crager, Brandon Thomas and Jim Lumberg. Together with a team of seasoned industry peers, they began development of a wealth management platform that would provide advisors with the tools they needed to compete in an ever evolving marketplace.
By 2001, Envestnet’s business began to grow, signing service agreements with two major securities broker-dealers to nearly 5,000 financial professionals nationwide.
The firm also acquired Portfolio Management Consultants (PMC), a pioneer in managed accounts.
The acquisition added more breadth to the firm’s product offerings with the SIGMA Mutual Fund Solution, investment guidance capabilities, and a new office in Denver.
Award or Recognition
Best of the Web
Envestnet’s early success was noted in Forbes Magazine’s “Best of the Web” in December.
Envestnet continued its growth and success by signing a service agreement with an RIA-focused custodian to provide a white-labeled, separately managed account (SMA) platform with more than 100 SMA investment offerings.
General
Trust Services
The firm signed a service agreement with a trust services firm to offer their network of RIAs with investment service, support, and technology.
Milestone
Client Growth
80 firms
By the end of 2002, nearly 80 firms had service contracts with Envestnet.
Advisor Summit
The First Advisor Summit
In addition, in 2002 Envestnet hosted its first national conference, the Advisor Summit, in Denver with nearly 200 attendees.
Envestnet’s portfolio consulting group, Envestnet | PMC, introduced new portfolio strategies designed to track the performance of hedge fund indices and to perform independently of stocks and bonds.
Milestone
More Growth
$26B+ total platform assets
21K+ investor accounts
290+ firms
The firm grew to more than $26B in total platform assets with over 239,000 investor accounts. By year-end, more than 290 firms have service contracts with Envestnet.
Envestnet | PMC introduced PMC Funds, which includes equity and fixed income funds, all managed by accomplished institutional investment managers.
New Product
PMC Select Portfolios
Different combinations of the funds are invested in new asset-allocated wrap portfolios known as the PMC Select Portfolios.
General
Better Service
In the same year, Envestnet signed a service agreement with another major independent broker-dealer to deliver service, support, and technology to 1,500 financial advisors nationwide.
Milestone
Unstoppable Growth
$82B+ total platform assets
598K+ investor accounts
550+ firms
By now the firm has grown to more than $82B in total platform assets and over 598,000 investor accounts. By year-end, more than 550 firms had service contracts with Envestnet.
Envestnet introduced the first Socially Responsible Investing (SRI) platform in the industry—The Sustainability Platform™ — which gives financial advisors overlay capabilities to filter out inappropriate stocks from portfolios and choose from a selection of SRI products managed by pioneers in sustainable investing.
New Product
PMC Tactical ETF Portfolio Series
Envestnet | PMC introduced the PMC Tactical ETF Portfolio Series, diversified risk-based portfolios with a risk tolerance ranging the efficient frontier, along with a Sector Rotation Portfolio and a Country Rotation Portfolio. By year-end, more than 760 firms had service contracts with Envestnet.
Milestone
More Growth
760+ firms
By year-end, more than 760 firms had service contracts with Envestnet.
Now a well-established industry leader, Envestnet introduced three new investing solutions in 2009: an enhanced version of the UMA that enable a higher degree of customization capabilities; PlanHorizon, a time-segmented distribution retirement program; and data aggregation services that offer technology integration of various assets and enhanced reporting.
New Product
PMC Tax Management Services
Envestnet | PMC introduced PMC Tax Management Services, a tax solution that can be used to unlock frozen assets and the Ultra-Short Fixed Income Portfolios, an attractive alternative to prevailing low money market fund yields.
Envestnet responded to growing concerns about trust in the financial industry and created thought leadership around advisors’ fiduciary responsibility. The firm unveiled “Fiduciary Oversight Notes,” a platform tool that offers the ability to document decision-making on behalf of clients.
General
Fiduciary Opportunity
Outreach regarding the “Fiduciary Opportunity” garnered Envestnet significant attention and a cover story in Financial Planning magazine.
New Product
Unified Managed Household
The firm introduced a Unified Managed Household (UMH) offering, which empowers advisors to analyze and report on all of a client’s assets, including those not managed by the advisor.
Milestone
Going Public
On July 29, 2010, Envestnet went public, trading on the New York Stock Exchange under the symbol ENV.
After a very successful foray as a public stock, Envestnet introduced Vantage Reporting Solutions, the firm’s premium aggregated performance reporting service, which enables advisors to attain a clear perspective on clients’ entire financial landscape.
Award or Recognition
Agents of Change
Envestnet covers the June 2011 issue of Investment Advisor Magazine.
Two key partnerships were established with ByAllAccounts Inc., a leader in data aggregation services, and DST Systems, Inc., a provider of sophisticated information processing and computer software.
Acquisition
Welcome FundQuest
In December 2011, Envestnet acquired FundQuest Inc., BNP Paribas’ U.S. provider of fee-based managed services and solutions.
Envestnet announced the acquisition of Tamarac Inc., the premier portfolio management platform provider for independent registered investment advisors (RIAs), and Prima Capital Holdings, Inc., a provider of investment manager due diligence, research applications, asset allocation modeling, and multi-manager portfolios to the wealth management and retirement industries.
As one of the largest prevailing providers of technology-enabled wealth management solutions, the firm has grown to serve more than $316B in total platform assets and over 1.5 million investor accounts.
Award or Recognition
Most Influential
CEO Jud Bergman was named one of the “Top 25 Most Influential People in the Investment Advisory Business” by Investment Advisor magazine.
Envestnet introduced the next generation of its Enterprise wealth management platform that features an enhanced advisor console with access to macro risk analytical tools via a fully mobile interface.
New Product
Envestnet Intelligence
The firm unveiled Envestnet Intelligence, a groundbreaking platform enhancement set to provide our advisor-partners with the ability to benchmark their practice.
The solution aimed to deliver critical market insights, intelligence, and reporting—spanning all of an investor’s accounts—that enable more responsive and customized portfolio design, implementation, and communication.
New Product
Quantitative Portfolios
An innovative new investment offering, the suite of Quantitative Portfolios, was also launched by Envestnet | PMC. This new solution enabled advisors to combine the benefits of low-cost market access, similar to an exchange-traded fund, with the benefits of separately managed accounts, including active tax management and portfolio customization.
Acquisition
Welcome WMS
Envestnet acquired the Wealth Management Solutions (WMS) division of Prudential Investments, a leading provider of wealth management products and services to banks and bank trust departments.
Envestnet announced the acquisition of Placemark Holdings, Inc., a leading developer of unified managed accounts (UMA) programs for banks, full-service broker-dealers, and RIA firms.
The acquisition delivered immediate access to Envestnet’s full suite of wealth management services including advisor-driven portfolio management, rebalancing, and aggregated reporting solutions to existing Placemark clients.
Envestnet is recognized for several industry awards including Outsourcing Solution of the Year by the Family Wealth Report and Advisory Solutions Service Provider of the Year by Money Management Institute
Envestnet announced the acquisition of Yodlee, Inc., the leading cloud-based platform for data aggregation, data analytics, and personal financial management apps. This marks Envestnet’s first acquisition of another public company.
The acquisition enabled investors and the advisors who serve them to access and make better sense out of their disparate and complicated financial picture.
Envestnet’s end-to-end unified wealth management platform will empower advisors to cross the digital divide and provide broader visibility into their clients’ financial well-being.
Acquisition
Welcome Finance Logix & Upside
Envestnet acquired Finance Logix, a financial planning software company serving banks, broker-dealers, and RIA firms, and Upside, a digital advice technology company supporting advisors.
Envestnet introduces a customizable intuitive client portal that aggregates personal finances with investment accounts, and makes it easier for advisors to demonstrate their value and connect with clients throughout the different stages of their financial life.
Award or Recognition
Most Influential
Stuart DePina is featured as one of the most influential people in the industry as part of Investment Advisor magazine’s IA 25
Envestnet acquired Wheelhouse Analytics LLC, a technology company that provides data analytics, mobile sales solutions, and online education tools to financial advisors, asset managers, and enterprises.
By combining Wheelhouse Analytics’ tools with Yodlee’s industry-leading data and analytics solutions, Envestnet strengthens its data-driven insights that enable firms to better manage their businesses and client relationships and deliver better outcomes to their clients.
Envestnet has grown to serve more than 2,000 enterprises in more than 15 countries, empower over 54,000 advisors, and surpass $1 trillion in total platform assets.
A Big Idea
New Book
The Essential Advisor: Building Value in the Investor-Advisor Relationship, the book co-authored by Bill Crager, is unveiled at the Envestnet Advisor Summit.
Envestnet wins the Disruptor Technology, TAMP, Portfolio Accounting and Client Portal (Tamarac platform) categories in this year’s WealthManagement.com Industry Awards.
We received the Technology Innovation Award from the Bank Insurance and Securities Association, the “Doing Good” award from the MMI and Barron’s Industry Awards, and the Best Outsourced CIO Solution from the Private Asset Management Awards.
Finally, Envestnet took home the Compliance, Outsourcing/Business Process Outsourcing, and Portfolio Management (Tamarac platform) categories in the annual Family Wealth Report Awards program.
Envestnet completes the acquisition of FolioDynamix, adding complementary advisory technology and wealth management clients to its growing financial wellness network.
Envestnet launches its Insurance Exchange, with initial partner Global Atlantic, enabling advisors to deliver a broader level of advice and help their clients achieve financial wellness.
New Product
Enterprise Data Management
The firm also announced its Enterprise Data Management offering, Envestnet Vision, providing enterprises with a data aggregation and analytics solution.
Award or Recognition
Innovation Investment Solution
Envestnet wins the Innovation Investment Solution of the Year for Envestnet | PMC and the Portfolio Management for Envestnet | Tamarac during the annual Family Wealth Report Awards.
Envestnet is also recognized with the Technology Innovation Award from the Bank Insurance and Securities Association, and the Best Investment Platform Award from Private Asset Management.
Envestnet enters into a strategic relationship with BlackRock to integrate their Digital Wealth offerings into the Envestnet platform, enabling advisors with sophisticated portfolio construction capabilities.
In conjunction with the strategic relationship, BlackRock made an approximate $122.8 million equity investment into Envestnet.
Envestnet launches Women’s Initiative Network (WIN), a platform to provide greater focus on and support for women to reach their fullest potential.
Acquisition
Welcome PortfolioCenter
Envestnet | Tamarac announced that Tamarac has agreed to acquire PortfolioCenter, Schwab Performance Technologies’ portfolio management and reporting technology solution for independent registered investment advisers (RIAs).
MyBlocks is a revolutionary, digital client engagement tool that is transforming not only the way advisors motivate clients to achieve financial wellness, but also how advisors define advice.
Over 100k advisors use Envestnet’s unified advice platform to expand their definition of advice and enhance the financial lives of their clients.
In Memoriam
A Great Loss
Envestnet loses Chairman, CEO and co-founder Judson Bergman in a tragic auto accident.
Milestone
Global Hackathon
Envestnet hosted its first global hackathon, named ENVathon, which brought more than 500 employees together to ideate and design the next wave of wealth management tools and technology.
Due to the COVID-19 outbreak, Envestnet successfully transitioned its entire global workforce to working from home by March 24. During this same period, Envestnet supported it’s more than 103k advisor clients through record trade volumes and service requests.
New Product
Advisor Services Exchange
Envestnet and Dynasty Financial Partners Announce Plans to Launch Advisor Services Exchange (ASx).
Andina Anderson is featured on the cover of Investment Advisor magazine as one of the Top 15 Women in WealthTech in 2020.
General
Silicon Raleigh
Envestnet expands footprint in “Silicon Raleigh” with move into Tower Two at Bloc[83] Modern.
Acquisition
Welcome WebbMason Analytics and Advisor Innovation Labs
Envestnet acquires WebbMason Analytics and Advisor Innovation Labs (AI Labs).
Milestone
Notable Woman Executive
Shelly O’Brien, Chief Legal Officer, General Counsel, and Corporate Secretary of Envestnet, is named one of the 2020 Notable Women Executives Over 50 by Crain’s Chicago Business.
UBS, Envestnet and iCapital Announce Launch of Alternatives Exchange Platform Offering Expanded Access to Alternative Investment Strategies and Education.
Envestnet and FNZ Partner to Launch Seamless, End-to-End Digital Solution in the U.S. Also to Integrate and Distribute Envestnet's Wealth Data Platform Internationally
Envestnet established as #1 wealth management platform by assets, advisors, and accounts*
*Source: U.S. advisor platform assets based on internal research and public company filings. Excludes self-directed retail and custody & clearing platforms.
Looking Forward
Envestnet’s mission is to empower advisors with the technology, solutions and data intelligence to drive better financial outcomes and make financial wellness a reality for more people.
Over 100k advisors use Envestnet’s unified advice platform to expand their definition of advice and enhance the financial lives of their clients.
Be a part of our growing financial wellness network.
