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) is a leading provider of unified wealth management technology and services, empowering investment advisors to optimize their practice and deliver superior client outcomes. The company's open-architecture platforms streamline the wealth management process by providing unparalleled flexibility, accuracy, performance, and value. Envestnet's solutions transform wealth management into a transparent, conflict-free, and fully-aligned standard of care.
Envestnet's flagship product, Advisor Suite®, equips financial advisors with the tools they need to enhance client outcomes and strengthen their practice. Additionally, Envestnet's Portfolio Management Consultants (PMC®) group offers institutional-quality research and advanced portfolio solutions. The Tamarac platform provides high-end RIAs with cutting-edge software for trading, rebalancing, portfolio accounting, performance reporting, and client relationship management.
In November 2015, Envestnet acquired Yodlee, a data aggregation provider, enhancing their data and analytics capabilities. The 2019 acquisition of MoneyGuidePro further expanded Envestnet's financial planning tools. Envestnet's latest achievements include the launch of the RIA Growth Lab, a consulting service aimed at helping RIAs with practice valuation, leveraging technology for actionable insights and peer benchmark grades.
Envestnet's ecosystem supports over $5.4 trillion in platform assets, with more than 107,000 advisors, 16 of the 20 largest U.S. banks, and 500 of the largest RIAs using their technology and services. The company is dedicated to transforming the delivery of financial advice by connecting daily financial decisions with long-term financial goals, helping individuals lead an Intelligent Financial Life™.
Recent developments include the celebration of the 10th anniversary of Envestnet's Quantitative Portfolios (QPs), which offer direct indexing solutions combining tax management with portfolio customization. Envestnet's robust Wealth Management Platform was also highlighted at the FSI OneVoice conference, showcasing advanced technologies that improve advisor productivity and client engagement.
For more information on Envestnet, visit their website at www.envestnet.com, or call their toll-free number at (855) 769-0806.
TD Bank Group and Envestnet | Yodlee announced a significant data access agreement on Sept. 21, 2021, aimed at enhancing customer experience in the digital banking space. This agreement allows TD customers to securely access and share their financial data with over 1,400 third-party applications through API technology. TD is now the 13th bank in North America to partner with Envestnet | Yodlee, underscoring its commitment to customer digital channels. With CDN$1.7 trillion in assets, TD continues to prioritize secure digital services for its 26 million customers.
Envestnet, Inc. (NYSE: ENV) announced its participation in three upcoming virtual investor conferences. On September 9, 2021, it will join the DA Davidson Software and Internet Conference. The following day, Envestnet will engage in a panel discussion at the JMP Securities Fintech Forum at 2:00 PM ET. Finally, on September 16, the company will participate in the UBS FinTech 1x1 Conference. Interested investors can access the JMP Securities presentation via Envestnet’s investor relations website.
Envestnet has updated its Recommendations Engine to enhance financial advisors' ability to provide tailored client engagement using data across its ecosystem. The engine analyzes client and industry data, generating actionable insights displayed on the 'Opportunities to Engage' dashboard. Recent updates include Planning Analytics for RIAs using MoneyGuide, and Annuity Insights through partnerships, improving advisors’ ability to target client opportunities effectively. This initiative aims to empower advisors in delivering better financial solutions, supporting Envestnet's mission of transforming financial advice delivery.
Qualis Capital LLC announced a strategic partnership with Envestnet, integrating single sign-on access for Envestnet platform users to the Qualis portal. This advancement aims to enhance client investment options in alternative assets. Antonio DeRosa, CEO of Qualis Capital, expressed enthusiasm for the efficiencies created by this integration. Qualis Capital specializes in facilitating access to vetted alternative investment managers and enhancing due diligence through its proprietary IQ suitability tool, which aids in measuring client risk tolerance.
Envestnet (ENV) reported Q2 2021 financial results, revealing a 23% increase in total revenues, reaching $288.7 million. Despite strong revenue growth, the company faced a net loss of $8.4 million, worsening from a $5.5 million loss in Q2 2020. Key metrics showed adjusted net income climbing 37% to $43.5 million, with adjusted EBITDA up 27% to $71.1 million. Envestnet cited robust asset-based recurring revenue growth of 39% year-over-year, emphasizing operational efficiency improvements, while controlling general and administrative expenses.
Envestnet | MoneyGuide launched My Plan Builder, a new tool within its MyBlocksSM series, aimed at simplifying financial planning for advisors and clients. The tool consists of six essential blocks: Your Goals, Retirement Income, Investment Assets, Other Assets, Loss Tolerance, and Play Zone®. Clients only need to provide basic information about their goals and assets to begin formulating a financial plan. This initiative is designed to enhance client engagement and streamline the initial planning process, ultimately promoting financial wellness.
On July 29, 2021, Envestnet (NYSE: ENV) announced the addition of Peak Trust Company to its Trust Services Exchange, enhancing its offerings for broker-dealers and Registered Investment Advisers (RIAs). Peak specializes in trust management under Alaska and Nevada law, catering to over 1,500 estate planners and managing trusts totaling more than $8 billion in assets. The partnership aims to simplify estate planning for advisors and their clients, particularly as $68 trillion is set to transfer between generations, facilitating improved advisor-client relationships.
The partnership between Envestnet | MoneyGuide and StratiFi enhances financial advisors' ability to discuss risks with clients, integrating StratiFi's PRISM Rating™ technology into MoneyGuide's software. This integration allows advisors to synchronize risk scores, bridging the understanding of risk between advisors and clients. It aims to elevate client relationships by providing insights on risk tolerance versus capacity. StratiFi's technology offers actionable insights to mitigate risks effectively, ensuring advisors can guide clients in achieving their financial goals.
Envestnet, Inc. (NYSE: ENV) will announce its second quarter 2021 financial results on August 5, 2021, after market close. A conference call and earnings webcast to discuss these results will take place the same day at 5:00 PM ET. Investors can access the live webcast on the company's investor relations website, with a replay available afterward.
Envestnet is focused on enhancing financial advice delivery with innovative technology, serving over 106,000 advisors across more than 5,200 firms, including major U.S. banks and wealth management companies.
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