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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.
Envestnet, Inc. (NYSE: ENV) has launched the Private Wealth Consulting service through Envestnet | PMC, aimed at assisting financial advisors in managing high-net-worth clients with $1 million or more in assets. This new offering provides customized portfolio recommendations and adds a dedicated high-net-worth solutions team of experienced client portfolio managers. The service includes personalized asset allocation, ongoing client support, and the incorporation of various investment strategies, enhancing the existing capabilities of PMC.
Envestnet | MoneyGuide has launched two new blocks in its MyBlocksSM series: the Spend vs. Borrow Block and the Mortgage Refinance Block. These blocks aim to facilitate informed financial decisions for clients, particularly regarding refinancing options and asset management. The Spend vs. Borrow Block allows users to evaluate scenarios related to loans versus asset liquidation, while the Mortgage Refinance Block guides clients in determining the benefits of refinancing their mortgage. This expansion brings the total number of interactive modules in the series to 35, supporting advisors in client conversations.
Envestnet, Inc. (NYSE: ENV) announced BOK Financial (NASDAQ: BOKF) has joined the Envestnet Trust Services Exchange. This partnership enhances access to a nationally chartered trust company for financial advisors and their clients. The platform, developed with Trucendent, integrates various wealth transfer services, including goal-setting and trustee services. BOK Financial's involvement aims to empower advisors to provide better trust administration solutions, ultimately improving client relations and capturing new assets. This collaboration positions Envestnet as a leader in advisor-centric trust service solutions.
Envestnet, Inc. (NYSE: ENV) announced the addition of four industry veterans to strengthen its leadership team, enhancing its financial wellness ecosystem. The new executives are Mary Ellen Dugan as Chief Marketing Officer, Farouk Ferchichi as Chief Data & Analytics Officer, Jillian Munro as Group Head of Data & Analytics Technology, and Neel Ray as Head of Mergers & Acquisitions. These appointments aim to drive business growth through innovative strategies in marketing, data analytics, and corporate development.
On March 23, 2021, Envestnet (NYSE: ENV) and Fiduciary Exchange LLC (FIDx) announced a partnership with Great American Life Insurance Company. This collaboration allows Great American's annuity solutions to be accessible to financial advisors through multiple platforms, including Envestnet Insurance Exchange and FIDx's Protection Intelligence. This move enhances FIDx's product offerings, catering to the need for secure retirement solutions. The partnership reflects a trend toward integrating insurance products into holistic financial planning for clients.
Envestnet (NYSE: ENV) announced the expansion of its Variable Annuity Program to the Envestnet Insurance Exchange, in collaboration with Fiduciary Exchange, LLC (FIDx). This upgrade enables advisors to access a wider range of annuity products, including fixed and indexed options, within Envestnet's financial wellness ecosystem. By December 31, 2021, advisors will benefit from enhanced compliance tools, research capabilities, and active annuity management features, fostering a comprehensive approach to financial advice.
Envestnet (NYSE: ENV) announced its acquisition of technology from Apprise Labs on March 16, 2021, aimed at enhancing its client portal experience. This acquisition will introduce cash flow planning and advanced estate planning solutions, now branded as Wealth Studios under Envestnet | MoneyGuide. The enhancements are designed to support advisors in delivering tailored financial solutions to clients of all wealth levels. The new client portal is set for a beta rollout in June 2021, with broader availability expected by the end of the year.
Nationwide and Envestnet | MoneyGuide announced a new partnership aimed at enhancing financial planning for advisors amid the pandemic's impact on retirement savings. The partnership allows Nationwide wholesalers access to MoneyGuide's analytical tools, promoting the inclusion of annuities in clients' financial strategies. With 72% of investors feeling retirement-planning pressure due to the pandemic, the collaboration seeks to meet growing demands for personalized advice. This initiative aligns with the increasing trend in the financial sector toward technology-driven, holistic investment planning.
Envestnet | Yodlee (NYSE: ENV) has announced a partnership with Productfy to streamline financial product development for FinTech startups. The collaboration enables developers to access Envestnet | Yodlee’s data aggregation, account verification, and compliance functionalities through a single interface. This initiative aims to reduce barriers for startups, facilitating quicker time-to-market for innovative financial solutions. The partnership capitalizes on a longstanding relationship, enhancing the service offerings for both platforms and reinforcing Envestnet's position in the financial data aggregation market, which includes partnerships with over 1,400 financial institutions.
Envestnet (NYSE: ENV) reported a strong financial performance for Q4 2020 and the full year, with total revenues growing 10% to $263.8 million in Q4 and 11% to $998.2 million for the year. Net income surged to $7.7 million in Q4 from $3.4 million a year prior, while the annual net loss decreased significantly to $2.6 million from $17.2 million. Adjusted EBITDA rose 6% to $65.0 million in Q4 and 26% to $242.9 million for the year. The company's strategic purpose and investment plans aim to enhance financial wellness.
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