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Envestnet Aims To Deliver Better Intelligence So Wealth Managers Can Deliver Better Results

Envestnet Aims To Deliver Better Intelligence So Wealth Managers Can Deliver Better Results

The Benzinga Global Fintech Awards are a yearly showcase of the greatest advents in fintech from leaders and visionaries in the worlds of finance and technology. This year, we have executives, developers and innovators from the likes of Facebook, Amazon, IBM, JP Morgan, Zelle, TD Ameritrade, TradeStation, Fidelity, and so many more.

In preparation for its biggest installment yet this May, we're profiling the companies competing for the BZ Awards. In this feature we focus in on Envestnet.

What does your company do? What unique problem does it solve?

Karen Lanzetta, Managing Director: Financial Wellness Network that connects enterprises, advisors, service providers and clients, and enables better financial outcomes through better intelligence.

  • Market-leading wealth management platform in large and growing $18 trillion advisor marketplace
  • Delivering the next-generation data and advice-centric platform, leveraging Yodlee’s leading data aggregation and analytics capabilities
  • Integrated technology for all mission-critical advisor applications, including secure, seamless connectivity to third parties

Envestnet is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet’s unified technology enhances advisor productivity and strengthens the wealth management process. Envestnet empowers enterprises and advisors to more fully understand their clients and deliver better outcomes. More than 2,900 companies, including 16 of the 20 largest U.S. banks, 39 of the 50 largest wealth management and brokerage firms, over 500 of the largest registered investment advisers (“RIA”), and hundreds of Internet services companies, leverage Envestnet technology and services.  Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences, and help drive better outcomes for enterprises, advisors, and their clients.

Who are your customers?

Lanzetta: More than 59,000 advisors and 2,900 companies including: 16 of the 20 largest U.S. banks, 39 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisers, and hundreds of Internet services companies.

How long have you been in business?

Lanzetta: Founded in 1999

Where are you located?

Lanzetta: Chicago (headquarters), Bangalore, India, Boston, Brisbane, Australia, Dallas, Denver, Landis (NC), London, New York, Philadelphia, Raleigh, Redwood Shores (CA), Seattle, San Jose (CA), Toronto, Tucson, and Trivandrum, India

Who is your company's leadership? What kind of experience do they have?

Jud Bergman is the chairman and CEO of Envestnet, Inc., a leading provider of integrated systems for wealth management and financial wellness. He founded the firm in 1999 and has served as Chief Executive since, focusing on guiding the company’s strategy and overseeing its organizational and business development. The company now empowers over 59,000 advisors, supports over $1 trillion in advised assets and is the leading provider of data aggregation and analytics supporting over 20 million end users. Prior to Envestnet, Jud was the Managing Director for Mutual Funds at Nuveen Investments (“the Firm”), where he was responsible for the profitable growth of the Firm’s mutual fund business and also served on the Firm’s Investment Management Committee. Earlier, Jud directed Nuveen’s product and corporate development activity where he helped build the Firm’s closed-end fund business, led the development and growth of the company’s separately managed accounts business and helped guide the Firm’s expansion into asset classes beyond municipal investments. Jud received his BA in English from Wheaton College and his MBA from Columbia University, with a concentration in finance and accounting.

Bill Crager is the President of Envestnet which he co-founded in 1999. Crager has led Envestnet’s platform, product and marketing strategy as well as the company’s relationship engagements. Along with Envestnet Chairman and CEO Jud Bergman, he has been a driving force behind a firm that has in just 16 years become the leading managed solutions service provider in terms of total platform assets and financial advisors served.  Crager and the team at Envestnet were first in the managed solutions industry to think more globally about how to streamline an independent advisor’s practice by putting a broad range of fee-based products side by side in an easily accessed open-architecture portal. The Managed Money Institute named Crager the 2015 Industry Pioneer, the organization’s highest honor. Before joining Envestnet, Crager served as a Managing Director at Rittenhouse Financial Services. There, he developed a widely recognized initiative that integrated value-added investor communications with a technology-driven client service platform. Crager is a graduate of Fairfield University where he dual majored in Economics and English; he currently serves on Fairfield University’s Board of Trustees.

Anil Arora is the Chief Executive of Envestnet | Yodlee and Vice Chairman of the Envestnet Board. Prior to the merger with Envestnet, Anil had been President and CEO of Yodlee since 2000. Under his leadership, Yodlee has been a disruptive catalyst for creativity and ingenuity in the financial industry by collaborating with leading financial institutions, entrepreneurs, and fintech developers to build and distribute data-driven financial apps used by millions of consumers and small businesses all over the world. Today, Anil is helping Envestnet | Yodlee lead the charge for better outcomes for both customers and advisors through innovative financial data and technology solutions. Anil has extensive experience building some of the world’s most recognized brands at companies like General Mills Inc. (NYSE: GIS), Kraft Heinz Co (NASDAQ: KHC), and Gateway, as well as innovating new market strategies, and increasing the lifetime customer value for companies in a variety of industries. In addition, he holds a master of business administration from University of Michigan and a bachelor of science from Rockford College.

Who are your investors, if any?

Lanzetta: ENV is a public company.  Institutional investors own 93 percent of ENV’s shares.  Directors and management own 3 percent.  Employees and other retail fill out the remaining 4 percent.

To meet with the minds behind companies like Envestnet and others testing the cutting edge of fintech, grab a ticket to the Benzinga Global Fintech Awards May 15-16 in New York.


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