Envestnet Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS TOP 500 Market Report

Envestnet Strengths, Domain Expertise, and Key Differentiators

Envestnet operates as a provider of intelligent systems specializing in wealth management and financial wellness. The company's unified technology serves to enhance advisor productivity and fortify the wealth management process. This empowerment extends to enterprises and advisors, enabling them to gain a deeper understanding of their clients and deliver superior outcomes. The technology also facilitates financial advisors in managing client outcomes more effectively, thereby strengthening their practices.

In delivering institutional-quality research and advanced portfolio solutions, Envestnet relies on Envestnet | PMC, its Portfolio Management Consultants group. Envestnet | Yodlee stands as a prominent data aggregation and analytics platform, driving dynamic, cloud-based innovation for digital financial services. For leading rebalancing, reporting, and practice management software for advisors, Envestnet looks to Envestnet | Tamarac. Additionally, Envestnet | Retirement Solutions offers an integrated platform that combines cutting-edge practice management technology, research, data aggregation, and fiduciary managed account solutions.

Envestnet Recent Developments

Envestnet appointed Chris Todd as Chief Executive Officer, bringing in leadership experience from the software industry to guide the company through a new phase following its acquisition by private equity firms. Under new leadership, the firm aims to strengthen its role in the wealth management sector by enhancing advisor services and developing tailored solutions for evolving client needs. Envestnet has introduced initiatives such as Retire Complete, a retirement savings platform developed with Empower to support plan sponsors and participants, and an embedded investment solution that allows financial institutions to offer integrated investing options through digital channels, addressing the growing demand for seamless financial experiences.

Envestnet Mergers and Acquisitions (M&A) Activities

In November 2024, Bain Capital finalized its acquisition of Envestnet, with the transaction valued at approximately $4.5 billion. Reverence Capital and Norwest were also involved in the transaction. Furthermore, strategic partners BlackRock, Fidelity Investments, Franklin Templeton, and State Street Global Advisors, holding minority equity positions in the privately held company, participated in the acquisition.

Envestnet Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Envestnet applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Envestnet and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Envestnet PMC, Envestnet Yodlee, Envestnet Tamarac, Envestnet MoneyGuide customers.

Envestnet Key Enterprise and Cloud Applications

Envestnet PMC, Envestnet Yodlee, Envestnet Tamarac, Envestnet MoneyGuide

Envestnet Revenues, $M:

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Envestnet Direct vs Indirect sales

Envestnet Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Envestnet Customers

No. of Envestnet Customers: 5000

No. of Envestnet Enterprise Applications Customers: x

No. of Envestnet Cloud Customers: x

No. of Envestnet Cloud Subscribers: 30 million

Envestnet provides technology and services that support a broad network of over 110,000 financial advisors and more than 5,000 organizations, including major U.S. banks, top wealth management firms, and a wide range of RIAs and internet companies. Its partnership with First Command Financial Services enables First Command’s advisors to access Envestnet’s integrated financial ecosystem, which includes advanced reporting, portfolio management, CRM integration, tax optimization tools, financial planning software, and data aggregation. Envestnet’s client base includes prominent financial institutions such as Fidelity, Northwestern Mutual, US Bank, and Scotiabank.

Envestnet Market Opportunities, M&A and Geo Expansions

Envestnet launched two initiatives aimed at supporting financial advisors and Registered Investment Advisers (RIAs). The Options Strategy Quantitative Portfolio helps manage concentrated stock positions by reducing risks such as market volatility, tax exposure, and liquidity constraints. It features a digital survey tool to guide advisors and clients through strategy selection and implementation, including options like Covered Calls, Protective Puts, and Collar Strategies. Separately, the RIA Growth Lab offers consulting services focused on helping RIAs grow and improve productivity through practice valuation, technology-driven insights, and peer benchmarking across performance metrics such as revenue, client satisfaction, and stability.

Envestnet Risks and Challenges

The company's risk exposure is directly tied to market dynamics, particularly reliant on asset-based recurring revenue derived from contractual percentages of Assets Under Management (AUM) or Assets Under Administration (AUA). Approximately 60% of our total revenue in the years ending December 31, 2023, 2022, and 2021 originated from asset-based fees. This percentage is subject to fluctuation over time. A reduction in the aggregate value of AUM or AUA could result in a decline in revenue, subsequently impacting our earnings. Market downturns may adversely affect our asset-based revenue in upcoming periods.

The expansion of Envestnet through acquisitions introduces additional risks. Potential challenges include inaccurate assumptions regarding future outcomes of acquired operations or assets, unmet expectations for cost reductions and synergies, unsuccessful and timely integration of acquired operations or management, limited understanding of acquired businesses' operations and markets, and the risk of losing key personnel.

Envestnet Ecosystem, Partners, Resellers and SI

In May 2024, Envestnet and Salesforce established a strategic partnership to integrate Envestnet's financial planning capabilities with Salesforce Financial Services Cloud, thereby creating a unified and streamlined experience for Envestnet clients. This collaboration addresses critical challenges faced by wealth advisors, including operational inefficiencies arising from disparate systems and applications, and the lack of data synchronization between CRM and financial planning platforms. By embedding Envestnet's MoneyGuide, an award-winning financial planning solution, directly within Salesforce FSC, advisors will gain access to a seamless and integrated financial planning workflow, directly within their CRM environment.

Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

For additional information on our methodologies, here's the link: