Welcome to our dedicated page for Envestnet news (Ticker: ENV), a resource for investors and traders seeking the latest updates and insights on Envestnet stock.
Envestnet Inc. (NYSE: ENV) maintains this comprehensive news hub for stakeholders tracking developments in wealth management technology. Our curated collection provides timely updates on platform enhancements, strategic partnerships, and financial performance within the advisor technology sector.
Investors and financial professionals will find essential information including quarterly earnings analysis, product launch details, and leadership updates. The repository serves as a strategic resource for understanding Envestnet's position in enabling digital transformation for over 106,000 financial advisors.
Key coverage areas include technology integrations affecting portfolio management systems, regulatory compliance updates for advisor platforms, and market expansion initiatives. All content undergoes rigorous verification to ensure accuracy and relevance for decision-makers.
Bookmark this page for continuous access to verified updates about Envestnet's ecosystem developments. Check regularly for insights into how the company continues to shape the future of financial advisory technology.
Envestnet (NYSE: ENV) reported strong Q3 2021 results, with total revenues increasing by 20% to $303.1 million, exceeding guidance. Adjusted EBITDA was $66.2 million, down 2% from the previous year, while adjusted net income decreased by 1% to $39.9 million. The company experienced a 34% rise in asset-based recurring revenues, constituting 61% of total revenues. However, total operating expenses also rose by 20%, and adjusted net income per share fell 15% to $0.61. The outlook for Q4 and FY 2021 is optimistic, despite market value uncertainties.
Envestnet announced the appointment of Dawn Newsome as Chief Business Operations Officer, effective Nov. 1, 2021. With over 25 years of experience, she will drive operational initiatives to expand Envestnet's financial wellness network. Reporting to Bill Crager, CEO, Newsome aims to enhance alignment across divisions while achieving financial milestones. Previously, she served as CEO of the Americas for TP ICAP and held senior roles at Liquidnet, Nomura, NatWest, and JP Morgan. Envestnet continues to empower nearly 108,000 advisors and more than 6,000 companies in the financial sector.
Envestnet, Inc. (NYSE: ENV) announced the resignation of Anil Arora as a director, effective October 28, 2021. Bill Crager, President and CEO, expressed gratitude for Arora's service, noting his significant experience in financial technology, notably as a former CEO of Yodlee. Arora's tenure at Envestnet began with the acquisition of Yodlee in November 2015, where he later became Vice Chairman. The leadership transition raises concerns regarding continuity in strategic direction at a critical time for the company.
On October 25, 2021, Envestnet announced a strategic partnership with YieldX, aiming to enhance financial advisory services through improved fixed-income investment solutions. Envestnet will distribute YieldX's technology, which simplifies fixed-income investing for over 108,000 advisors and their clients. Additionally, Envestnet led a Series A funding round for YieldX to scale its analytics and engineering teams. This partnership is expected to broaden the access to income-related solutions, empowering advisors to meet critical client needs.
Envestnet, Inc. (NYSE: ENV) announced that it will release its third quarter 2021 financial results on November 8, 2021, post-market. A conference call to discuss these results will be held on the same day at 5:00pm ET, which will also be available via a live webcast on the company's investor relations website. Envestnet is focused on enhancing financial advice and wellness delivery, serving nearly 108,000 advisors and over 6,000 companies, including major U.S. banks and wealth management firms.
Envestnet has partnered with MML Investors Services to offer the Envestnet Credit Exchange, enabling investment advisors to provide residential real estate and unsecured consumer loan solutions. This service allows advisors to help clients with significant financial needs, such as mortgages and other loans. According to the Federal Reserve, mortgages accounted for 69% of consumer credit balances in early 2021. The Credit Exchange aims to enhance wealth managers' capabilities in addressing various client financial goals, combining asset and liability management on a single platform.
Carson Group has announced its integration with Envestnet | MoneyGuide, enhancing the tools available to its partner advisors. This integration allows access to MoneyGuide's offerings, including the MyBlocks tool, which is beneficial for advisors working with millennial clients. Additionally, Wealth Studios provides advanced planning resources for high-net-worth clients. Carson Group currently manages $18.4 billion in assets, serving over 38,000 client families. This collaboration aims to ensure that advisors can deliver comprehensive financial advice.
Envestnet has announced a strategic partnership with Healthpilot to enhance Medicare insurance coverage for clients nearing retirement. This collaboration allows financial advisors to leverage Healthpilot's digital platform for simplified Medicare plan selection and enrollment. Key benefits include streamlined enrollment in under 15 minutes, real-time updates on plans, and automated communication of estimated healthcare costs back to advisors. This new service aims to create a comprehensive financial wellness experience by integrating healthcare decisions into retirement planning.
Envestnet | Yodlee has partnered with Navy Federal Credit Union to enhance financial data access for its members. This agreement allows Navy Federal members to share their financial information securely with over 1,400 applications on Envestnet's platform. With a token-based API approach, users will enjoy faster connections and improved data integrity. The collaboration aims to promote better financial decision-making and wellness for members, while ensuring stringent security measures are in place.
Envestnet | PMC has launched the Fund Strategist Tax Management Service to assist financial advisors in managing tax implications for fund strategist portfolio accounts. This service, applicable to over 2,000 portfolios across 140 strategist firms, automates capital gains tax management, enabling advisors to align tax costs with clients' investment goals. Utilizing Aladdin technology, it evaluates tax-sensitive trading strategies to minimize taxable gain realizations and optimize returns. This initiative aims to help advisors better integrate model portfolios into client strategies, enhancing overall financial management.
