Envestnet, Inc. is an American financial technology corporation that develops and distributes wealth management software and products to financial advisors and institutions, serving as the leading Adaptive WealthTech company that helps advisors meet the moment with comprehensive technology, insights, solutions, and industry-leading support. Founded 25 years ago (incorporated in 2007) and headquartered in Berwyn, Pennsylvania, Envestnet manages over $7.0 trillion in platform assets and is trusted by over a third of all financial advisors across leading banks, wealth managers, brokerages, and RIAs.
The company’s main product is an advisory platform that integrates the services and software used by financial advisors in wealth management, unifying the wealth management process to deliver unparalleled flexibility, accuracy, performance, and value. Envestnet’s nine interconnected solutions include Trading, Proposal/Risk assessment, Prospecting, Estate & Legacy Planning, Direct Indexing, Tax Management, Data Aggregation, Data Enrichment, and more, designed for the future of financial advice across asset managers, RIAs, and financial institutions. The company serves over 111,000 advisors, 17 of the 20 largest U.S. banks, 48 of the 50 largest wealth management and brokerage firms, and more than 500 of the largest RIAs.
Envestnet’s key offerings include Advisor Suite® software (empowering financial advisors to manage client outcomes and strengthen practices), Advisor Now (a digital advice portal enabling advisors to compete with robo-advisors by providing technology for personalized investment services), institutional-quality research through Portfolio Management Consultants (PMC), and Envestnet Yodlee (data aggregation and enrichment segment). In July 2024, Envestnet agreed to be acquired by a Bain Capital-controlled consortium for $4.5 billion, with the deal completed on November 25, 2024, transitioning the company from publicly traded (NYSE: ENV) to privately held.
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