CHICAGO, Nov. 30, 2010 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV), a leading provider of fully integrated wealth advisory solutions to more than 19,000 financial advisors, announced that Ron Fiske has joined the firm as Managing Director, Strategic Partnerships.

Fiske is former Executive Vice President for Product Management and Development for Fidelity Investments.  At Envestnet, he will focus on deepening the firm's relationships with its key distribution and technology partners as well as developing new relationships to broaden the capabilities and impact of the Envestnet platform, which recently has been enhanced with new features supporting more customized and comprehensive financial advice.

"Ron Fiske brings a wealth of experience, industry knowledge, and energy to the Envestnet management team and to our clients," said Envestnet President Bill Crager.  "He has played a leading role in the development of some of our industry's most prominent wealth management offerings for advisors.  His knowledge and insight will be invaluable to our effort to empower advisors to deliver a new level of customer focused, integrated financial and investment guidance."

Announced on Nov. 22, the next generation of Envestnet's industry-leading wealth management platform for advisors represents the industry's first advisory platform with truly integrated analysis, guidance and reporting for the emerging "unified managed household" (UMH) advice model.  The Envestnet platform also provides innovative features enabling advisors to better plan, execute and document a fiduciary process for advice and service.

"To complement our platform efforts, we have been determined to bring our industry's best talent to Envestnet," Crager said.  "Ron Fiske will be a very strong addition to our senior management team."

While at Fidelity, Fiske led the combined investment product management efforts for Fidelity Institutional Wealth Services (Fidelity's registered investment advisor platform) and National Financial (Fidelity's broker/dealer platform).  The products within Fiske's purview included managed accounts, mutual funds, ETFs, lending, cash management, personal trust, donor advised funds, retirement and third party administrator support.

Before joining Fidelity, Fiske was Managing Director for Product Management and Development for Pershing, where he was responsible for all aspects of product management and new product development for Pershing's customer base, including U.S. based broker/dealers, global broker/dealers and registered investment advisors.

He has served on the Executive Board for the Money Management Institute and the Wealth Strategies Roundtable for SIFMA, and also was a member of the SIFMA/DTCC Joint Taskforce on Insurance Processing.

He received a B.A. degree from Columbia University and an MBA from the Johnson Graduate School of Management at Cornell University.

ABOUT ENVESTNET (NYSE: ENV)

Envestnet, Inc. is a leading provider of technology-enabled investment and practice management solutions to financial advisors. Envestnet's technology is focused on addressing financial advisors' front-, middle- and back-office needs. Envestnet is headquartered in Chicago with offices in Boston, Denver, New York, Silicon Valley and Trivandrum, India. The firm has over $126 billion in total assets served and more than 860,000 investor accounts.* For more information on Envestnet, Inc. please go to www.envestnet.com.

* Data includes assets under management and administration and licensing agreements as of 9/30/2010.

SOURCE Envestnet, Inc.