Envestnet Celebrates 20 Years of Innovation
Since it first launched its Software-as-a-Service (SaaS) offering for wealth management in 2000,
"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
Below are some of the key events and milestones from
- 1999—Envestnet Founded:
Envestnetis 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:
Envestnetlaunches its Software-as-a-Service (SaaS) unified advice platform for wealth management in 2000 with two major custodial partners. Headquartered in Chicagoand with an office in New York, Envestnetstarts small with only 50 employees.
- 2001—PMC Acquisition:
Envestnet'sbusiness 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,
Envestnethosts its first national conference, the Advisor Summit, in Denverwith nearly 200 attendees.
- 2004—Welcome Oberon & NetAssetManagement:
Envestnetacquires Oberon Financial Technology and NetAssetManagement, two providers of innovative turnkey, unified wealth management solutions.
- 2008—Socially Responsible Investing:
Envestnetintroduces 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, Envestnetgoes public, trading on the New York Stock Exchangeunder the symbol ENV.
- 2012—Welcome Tamarac:
Envestnetannounces the acquisition of Tamarac, the premier portfolio management platform provider for independent RIAs.
- 2015—Welcome Yodlee:
Envestnetannounces the acquisition of Yodlee, the leading cloud-based platform for data aggregation, data analytics, and personal financial management apps. This marks Envestnet'sfirst 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 financial picture.
- 2016—Welcome Wheelhouse Analytics:
Envestnetacquires 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'sindustry-leading data and analytics solutions, Envestnetstrengthens its data-driven insights that enable firms to better manage their businesses and deliver better outcomes to their clients.
- 2019—Welcome MoneyGuide:
Envestnetacquires 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,
Envestnettakes 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
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