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Envestnet Acquires Client Portal Technology Solutions From Apprise Labs

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Envestnet Inc (NYSE: ENVannounced the acquisition of technology from Apprise Labs. The financial terms of the transaction were not disclosed.

  • The deal enables Envestnet to deliver a reimagined client portal experience focused on the client’s financial wellness accomplishment through deeper advisor connections. 
  • It also included the acquisition of cash flow planning and advanced estate planning solutions to enhance Envestnet MoneyGuide’s robust financial planning ecosystem.
  • MoneyGuide would offer the financial planning technology solutions acquired from Apprise Labs as Wealth Studios, including a detailed cash flow report enabling advisors to engage their wealthy clients under a goals-based approach.
  • The offering also comprised advanced estate and legacy planning that addressed ultra-high-net-worth (UHNW) client needs, like trust modeling and inheritance fairness planning.
  • Envestnet’s cash and cash equivalents amounted to $384.6 million as of December 31, 2020.
  • Price action: ENV shares are trading 0.72% lower at $70.50 on the last check Tuesday.
 

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