Profile: Envestnet Inc (ENV.N)
16 Jul 2019
Envestnet, Inc., incorporated on February 11, 2004, is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company's segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions. Its Envestnet Yodlee segment is a data aggregation and data analytics platform. The Company's services and related technology are provided through Envestnet's wealth management software, Envestnet PMC, Envestnet Tamarac, Vantage Reporting Solution, Envestnet WMS, Envestnet Placemark, Envestnet Retirement Solutions, Envestnet Yodlee and Envestnet Finance Logix. The Company operates Registered Investment Advisors (RIAs) and a registered broker-dealer.
The Company's Envestnet segment works with both RIAs, as well as advisors associated with financial institutions, such as broker-dealers and banks. The Company's centrally-hosted technology platform services include risk assessment and selection of investment strategies and solutions, asset allocation models, research and due diligence, portfolio construction, proposal generation and paperwork preparation, model management and account rebalancing, account monitoring, customized fee billing, overlay services covering asset allocation, tax management and socially responsible investing, aggregated multi-custodian performance reporting and communication tools, as well as access to a range of third-party asset custodians. The Company's Envestnet Advisor Suite unifies the applications and services advisors use to manage their practice and advise their clients, including financial planning; capital markets assumptions; asset allocation guidance; research and due diligence on investment managers and funds; portfolio management trading and rebalancing; multi-custodial, aggregated performance reporting, and billing calculation and administration. The Company's portfolio management consultants (PMC) group engages in research and consulting services aimed at providing financial advisors with additional support in addressing their clients' needs, as well as the creation of investment solutions and products. Envestnet PMC's investment solutions and products include managed account and multi-manager portfolios, mutual fund portfolios and Exchange Traded Fund (ETF) portfolios. Envestnet PMC also offers Prima Premium Research comprising institutional-quality research and due diligence on investment managers, mutual funds, ETFs and liquid alternatives funds. Its Envestnet Tamarac provides portfolio accounting, rebalancing, trading, performance reporting and client relationship management (CRM) software. Its Envestnet Retirement Solutions (ERS) offers a range of services designed specifically for retirement plan professionals. Its Envestnet Vantage provides enterprise data solutions for financial institutions, aggregates and manages investment data, and provides multi-custodial consolidated performance reporting and benchmarking, giving clients an in-depth view of all holdings, and empowering advisors and institutions to manage their business. Envestnet Finance Logix provides financial planning and wealth management software solutions to banks, broker-dealers and RIAs. Envestnet Advisor Now offers private-labeled investor-facing technology that enables advisors and institutions to deliver a digital wealth management experience to their clients.
The Company's Envestnet Yodlee segment serves two customer groups, financial institutions (FI), customers and Internet services companies, providing financial solutions. Envestnet Yodlee provides FI customers with access to its platform, open application programming interfaces (APIs) and end user facing applications powered by its platform and APIs (FinApps). Its platform and APIs enable FI customers to receive end user-permissioned transaction data elements that it aggregates and cleanses, as well as to enable its money movement solutions. The FinApps powered by its platform and APIs can be subscribed to individually or in combinations that include personal financial management, wealth management, card, payments and small-medium business (SMB) solutions. Its Yodlee Interactive (YI) customers are Internet services companies and third-party developers. Its YI customers operate in a number of sub-vertical markets, including wealth management, personal financial management, small business accounting, small business lending and authentication. These customers use the Envestnet Yodlee platform to build solutions that leverage its open APIs and access to an end user base. In addition to aggregated transaction-level account data elements, the Company provides YI customers with access to account verification, money movement and risk assessment tools through its APIs. Its YI customers use its solutions in diverse applications, such as providing working capital to small businesses online; personalized financial management, planning and advisory services; e-commerce payment solutions, and online accounting systems for small businesses. The Company provides access to its solutions across multiple channels, including Web, tablet and mobile.
The Envestnet Yodlee platform a range of FinApps and also enables its customers to develop their own applications through its open APIs, that deliver data, money movement solutions and other feature functionality. Its FinApps are targeted at the retail financial, wealth management, small business, card and other financial solutions sectors. These FinApps help consumers and small businesses manage their finances, review their financial accounts, track their spending, calculate their net worth and perform a range of other activities. Its Expense FinApp helps consumers track their spending and a Payroll FinApp from a third party helps small businesses process their payroll. The Company's technology platforms include Envestnet Yodlee Data Aggregation and Envestnet Yodlee Money Movement. Its data aggregation platform collects a range of end user-permissioned transaction-level data from over 14,500 sources and puts it in a common repository. Beyond collecting data, its data aggregation platform performs a data refining process and augments the data with additional information from a range of other sources. Its money movement solutions facilitate payment flows. Its customers can debit and credit consumer and small business accounts in real time or in batches and route payments between accounts (funds transfer), to billers (bill pay) or to other individuals (peer to peer). Its payment engine is a task-based payment processing platform that controls all payment activity across cobrands, originators, processors and billers.
The Company competes with BNY Mellon Corporation, AssetMark, Inc., SS&C Technologies Holdings, Inc., Orion Advisor Services and Quovo, Inc.
35 E Wacker Dr Ste 2400
CHICAGO IL 60601-2310