CHICAGO, Nov. 1, 2010 /PRNewswire-FirstCall/ -- Envestnet, Inc. (NYSE: ENV), a leading provider of fully integrated wealth advisory solutions to more than 19,000 financial advisors, today announced the appointment of Marion Asnes, former Editor-in-Chief of Financial Planning magazine, as a Managing Director and Chief Marketing Officer of Envestnet Asset Management, Inc., Envestnet's operating subsidiary.  A nationally recognized financial editor, writer and speaker, Asnes has over 25 years of personal finance and financial services industry experience, with a focus on independent financial advisors and their clients.

"Marion Asnes is well-known and very highly-regarded in the advisory community," said Envestnet President Bill Crager.  "Her deep understanding of advisory practice in combination with her keen insights into investor behavior and concerns will be a significant asset and considerable advantage for Envestnet as we help advisors to deliver investor-centered, integrated and customized solutions to their clients."

"We are particularly excited about Marion's considerable skills as a strategist and communicator.  We believe they will prove to be invaluable to our ability to offer advisors the information, insights, and tools they need to advise and communicate with their clients in an increasingly complex and challenging market and business environment," Crager concluded.

Financial Planning and its associated website, www.financial-planning.com, are regarded as the nation's premier media outlets focused on independent financial advisors, the industry's fastest-growing advisor group. While at Financial Planning, Asnes spearheaded the comprehensive redesign of the magazine including the addition of a new section on wealth management.  

Asnes is a regular speaker at industry events ranging from the Financial Planning Association's annual meeting to the National Football League's Rookie Symposium and has chaired many conferences including Sourcemedia's "Financial Behavior in Retirement" conference and its "Women Advisors Forum."

Most recently, Asnes led the magazine's partnership with Envestnet to develop what has become the benchmark research on the fiduciary standards debate, exploring advisors' and clients' knowledge of, attitudes toward and behaviors regarding advisor-client relations and fiduciary responsibility. The findings have informed Envesnet's "Fiduciary Opportunity" initiative, a program of activities including an online platform designed to educate advisors about the issue and provide tools to help them efficiently manage the fiduciary process.

"I've long been an admirer of Envestnet," Asnes said. "This is a singular opportunity to work with an excellent, forward-thinking company that is empowering the fiduciary process by applying its deep technological expertise to enable advisors to offer comprehensive, integrated, and customized advice.  This sort of cohesive platform, in combination with the cutting edge portfolios that Envestnet creates and manages, gives independent advisors access to the kind of intellectual capital, products, and services usually reserved for advisors at large institutions. Everybody wins—advisors and clients."

At Envestnet, Asnes's portfolio of responsibilities will include organizing the company's branding and marketing communications effort, creating and enhancing relations with the financial advisory community, overseeing media relations, and identifying and developing new products, services and other business opportunities.

Prior to joining Financial Planning in 2005, Asnes was a senior editor at Money, co-leading the magazine's coverage of personal finances, retirement, asset allocation, estate planning and health issues. As one of Money's on-air personalities, she appeared on numerous national television programs as an expert on financial and economic topics including CNN, CNN Headline News, NBC's The Today Show, ABC's 20/20, PBS's NewsHour with Jim Lehrer and Fox News' The O'Reilly Factor.  In addition to her regular editorial duties at Money, Asnes co-edited Money for Women, an annual special issue that was featured exclusively on The Today Show.

Asnes is a graduate of Cornell University and was formerly a faculty member at the Woodhull Institute for Ethical Leadership, a non-profit institute dedicated to teaching young women leadership skills.

ABOUT ENVESTNET (NYSE: ENV)

Envestnet, Inc. is a leading independent provider of technology-enabled investment and practice management solutions to financial advisors who are independent, as well as those who are associated with small or mid-sized financial advisory firms and larger financial institutions. 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 $106 billion in total assets served and more than 825,000 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 6/30/2010.

This announcement contains no investment advice or recommendations and is provided for informational purposes only. Any investment is subject to risk. Investment decisions should be made based on the investor's specific financial needs and objectives, goals, time horizon, tax liability and risk tolerance. Neither Envestnet nor its representatives render tax, accounting or legal advice. Past performance is not a guarantee of future results.

© 2010 Envestnet. All rights reserved.

SOURCE Envestnet, Inc.