Envestnet, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Accrued Expenses

Accrued Expenses

12 Months Ended

Dec. 31, 2013

Accrued Expenses

Accrued Expenses

9. Accrued Expenses

Accrued expenses consist of the following:

	At December 31,
	2013		2012

Accrued investment manager fees	$	19,310	$	12,937
Accrued compensation and related taxes	12,125		5,726
Accrued professional services	694		408
Accrued restructuring charges	551		—
Other accrued expenses	2,562		1,523
	$	35,242	$	20,594

As a result of the FundQuest, Prima and Tamarac acquisitions, the Company incurred restructuring charges of $115 in the year ended December 31, 2012, primarily severance charges for certain Tamarac employees and lease abandonment charges related to Prima.

The Company incurred restructuring charges of $474 (see Note 15), net of deferred rent adjustment, in the year ended December 31, 2013, due to lease termination penalties incurred to terminate the Denver and Raleigh leases.

The summary of activity in accrued restructuring charges was as follows:

Balance at December 31, 2011	$	290
Restructuring provision incurred	115
Payments	(405		)
Balance at December 31, 2012	—
Restructuring charge, net	474
Lease termination payment accrued	551
Payments	(474		)
Balance at December 31, 2013	$	551