CHICAGO, April 15, 2015 /PRNewswire/ -- Envestnet, Inc.
(NYSE: ENV) announces that Matthew
McGinness has joined the firm as Managing Director of
Strategic Consulting for Enterprises. In this role, he will lead
Envestnet's strategic initiative to improve clients' practice
management. The program's architect, Jay
Hummel, joined the Envestnet family in late 2014 as Senior
Vice President in the Advisor Services group.
"We are committed to enhancing our service delivery model so we
can continue to meet the needs of every client as we grow," said
Bill Crager, President,
Envestnet. "Matt and Jay possess the expertise and advisory
firm experience to help us strengthen the alignment of our
technology and human capital. We look forward to working with them
to provide solutions to our clients' toughest business
challenges."
Mr. McGinness will build a team of practice management
consultants focused on helping enterprise wealth management firms.
Mr. Hummel will concentrate on improving the overall business
operations of registered investment advisors (RIAs).
Envestnet's practice management initiative brings together the
firm's technology and intellectual capital to deliver advice that
has a direct positive impact on clients' business outcomes. After
meeting with clients to identify challenges inhibiting their
growth, Envestnet assembles "swat teams" consisting of relevant
subject matter experts from departments throughout the
organization. The swat teams develop customized training programs
for each participating client's advisors and leadership teams, and
work with them to overcome obstacles to achieving scalable
growth.
"Matt and Jay see things through the lens of our clients. They
have a deep understanding of the difficulties that independent
wealth managers face in their daily operations, and this is
important for our practice management initiative," said
Lori Hardwick, Group President,
Advisor Services, Envestnet. "Their knowledge is vital for
helping us determine the best solutions and strategies for
empowering each client in the face of the advisory universe's
ongoing evolution."
"Jay and I will be committing significant time and directing
Envestnet's myriad resources to clients that choose to invest in
practice management," said Mr. McGinness. "Taking the lead
on education and practice management is critical to Envestnet's
role as a business partner for its clients, and we are proud to be
at the forefront of this new investment that Envestnet is making in
its clients' growth."
Mr. McGinness was previously CEO of First Allied Advisory
Services, an RIA with more than $3
billion in assets under management, where he was in charge
of managed accounts, platform management and development, and
advisory operations and sales. Earlier in his career, Mr. McGinness
served as Managing Principal of Best Practice Research, led the
practice management group at LPL Financial, and served as Associate
Director of Cerulli Associates.
Mr. Hummel joined Lenox Wealth Management in 2010, and became
President and Chief Operating Officer of the firm in 2011. Prior to
Lenox, he worked for Ward Financial Group, consulting with
companies to help them become more profitable.
"We are eager to help our clients grow faster than their
competitors," said Ms. Hardwick. "This growth-centric
mindset has created a multiplier effect, and is a key driver of the
success of Envestnet and our clients over the past 16
years."
About Envestnet
Envestnet, Inc. (NYSE: ENV) is a
leading provider of unified wealth management technology and
services to investment advisors. Our open-architecture platforms
unify and fortify the wealth management process, delivering
unparalleled flexibility, accuracy, performance, and value.
Envestnet solutions enable the transformation of wealth management
into a transparent, independent, objective, and fully-aligned
standard of care, and empower advisors to deliver better
outcomes.
Envestnet's Advisor Suite® software empowers
financial advisors to better manage client outcomes and strengthen
their practices. Envestnet provides institutional-quality research
and advanced portfolio solutions through our Portfolio Management
Consultants group, Envestnet | PMC®. Envestnet | Tamarac
provides leading rebalancing, reporting, and practice management
software.
For more information on Envestnet, please visit
www.envestnet.com and follow @ENVintel
(https://twitter.com/envintel).
Media
Contact:
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Simpson
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JCPR
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850-7319
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lsimpson@jcprinc.com
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SOURCE Envestnet, Inc.