CHICAGO, Sept. 10, 2020 /PRNewswire/ -- After celebrating
10 years of being a public company in July, Envestnet, Inc. (NYSE:
ENV) is commemorating the 20-year anniversary of its unified advice
platform with a microsite featuring a timeline that highlights
major growth and innovation milestones over the past two
Since it first launched its Software-as-a-Service (SaaS)
offering for wealth management in 2000, Envestnet has grown to
become a leading platform and financial wellness network empowering
advisors and financial service providers with innovative
technology, solutions, and data-driven intelligence. Over 103,000
advisors across more than 4,900 companies—including 16 of the 20
largest banks, 46 of the 50 largest wealth management and brokerage
firms, over 500 of the largest registered investment advisors
(RIAs), and hundreds of FinTech companies—leverage the Envestnet
platform to grow their businesses and strengthen client
Envestnet's unique network was built through a multi-pronged
strategy, which included organic initiatives, strategic
acquisitions, and a core goal of integration. This is the same
approach the firm employs today as it continues to disrupt the
industry and deliver the technology advisors need to help their
clients achieve their financial goals. To learn more about
Envestnet's 20-year journey, please visit
"As we celebrate two decades of enhancing financial advice and
look ahead to more of the same, we want to take a moment to say
'thank you' to our clients, and the entire industry, for supporting
us over the years as we worked together to help to improve the
lives of more people," said Bill
Crager, CEO and Co-Founder of Envestnet. "Since our founding
more than 20 years ago, Envestnet has and will continue to be a
champion for wealth management professionals. We are guided by our
mission to deliver cutting-edge technology fueled by intelligent
data, which advisors need to drive better financial outcomes—and
ultimately, make financial wellness a reality for everyone."
Below are some of the key events and milestones from Envestnet's
first two decades:
- 1999—Envestnet Founded: Envestnet is founded by Jud Bergman, Bill
Crager, Brandon Thomas, and
Jim Lumberg. Together with a team of
other seasoned industry peers, they begin development of a wealth
management platform to provide advisors with the tools they need to
compete in an ever-evolving marketplace.
- 2000—Investment Services: Envestnet launches its
Software-as-a-Service (SaaS) unified advice platform for wealth
management in 2000 with two major custodial partners. Headquartered
in Chicago and with an office in
New York, Envestnet starts small
with only 50 employees.
- 2001—PMC Acquisition: Envestnet's business begins to grow, as
it signs service agreements with two major securities
broker-dealers with nearly 5,000 financial professionals
nationwide. The firm also acquires Portfolio Management Consultants
(PMC), a pioneer in managed accounts.
- 2002—The First Advisor Summit: In 2002, Envestnet hosts its
first national conference, the Advisor Summit, in Denver with nearly 200 attendees.
- 2004—Welcome Oberon & NetAssetManagement: Envestnet
acquires Oberon Financial Technology and NetAssetManagement, two
providers of innovative turnkey, unified wealth management
- 2008—Socially Responsible Investing: Envestnet introduces the
first Socially Responsible Investing (SRI) platform in the
industry—The Sustainability Platform™—giving 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.
- 2010—Going Public: On July 29,
2010, Envestnet goes public, trading on the New York Stock
Exchange under the symbol ENV.
- 2012—Welcome Tamarac: Envestnet announces the acquisition of
Tamarac, the premier portfolio management platform provider for
- 2015—Welcome Yodlee: Envestnet announces the acquisition of
Yodlee, 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 enables investors and the advisors who serve them to
access and make better sense out of their disparate and complicated
- 2016—Welcome Wheelhouse Analytics: Envestnet acquires
Wheelhouse Analytics, 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 deliver
better outcomes to their clients.
- 2019—Welcome MoneyGuide: Envestnet acquires MoneyGuide,
bringing the series of industry leading goals-based financial
planning solutions into its ecosystem.
- 2020—Continuing to Lead the Industry Forward: With the onset of
the COVID-19 pandemic, Envestnet takes the lead on helping advisors
adapt to significant changes in the industry and client
expectations brought about by this crisis, publishing The
Advisor's Playbook for Leading Your Clients Forward.
"We've come an incredibly long way and we cherish and celebrate
each 'leap and bound' made during our journey," said Mr. Crager.
"Today, our unified advice platform and financial wellness network
empower advisors to expand their definition of advice to address
their clients' entire financial lives—a paradigm which embodies the
future of wealth management. We are beyond proud to be already
Envestnet, Inc. (NYSE: ENV) is
transforming the way financial advice and wellness are delivered.
Our mission is to empower advisors and financial service providers
with innovative technology, solutions, and intelligence to make
financial wellness a reality for everyone. Over 103,000 advisors
across more than 4,900 companies including 16 of the 20 largest
U.S. banks, 46 of the 50 largest wealth management and brokerage
firms, over 500 of the largest RIAs, and hundreds of FinTech
companies, leverage the Envestnet platform to grow their businesses
and client relationships.
For more information on Envestnet, please visit
www.envestnet.com, subscribe to our blog, and follow us on Twitter
(@ENVintel) and LinkedIn.
JConnelly for Envestnet
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SOURCE Envestnet, Inc.