Envestnet Strengths, Domain Expertise, and Key Differentiators
Envestnet is a provider of intelligent systems for wealth management and financial wellness. Envestnet's unified technology enhances advisor productivity and strengthens the wealth management process, empowering enterprises and advisors to more fully understand their clients and deliver better outcomes, enables financial advisors to better manage client outcomes and strengthen their practices.
Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. Envestnet | Tamarac provides leading rebalancing, reporting, and practice management software for advisors. Envestnet | Retirement Solutions provides an integrated platform that combines leading practice management technology, research, data aggregation, and fiduciary managed account solutions.
Envestnet Recent Developments
In April 2021, Envestnet launched an environmental, social, and governance (ESG) due diligence program to enhance its existing proprietary due to diligence framework—and enable its research team to hold more meaningful conversations with asset managers throughout the Envestnet ecosystem about ESG investment processes and strategies. This additional level of research and due diligence from PMC is ultimately designed to help financial advisors and their clients make well-informed ESG investment decisions.
In August 2020, Envestnet | Yodlee launched Insights Solutions, designed to help financial institutions and FinTechs grow their market share by enabling hyper-personalized digital financial experiences and providing the data needed for customer segmentation. In the meantime, Envestnet | MoneyGuide launched New Planning Insights Tool via Envestnet Analytics. MoneyGuide and Envestnet Analytics have teamed up to provide free plan analytics to clients of MoneyGuide. This new service will be integrated into MoneyGuide and will provide analysis of planning usage, key metrics, and update patterns.
In January 2020, Envestnet joined forces with Dynasty Financial Partners to launch the Advisor Services Exchange (ASx), which will offer financial advisors using Envestnet's platforms an enhanced set of tools and services to help build and grow their businesses.
Envestnet is a 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."
Envestnet Mergers and Acquisitions (M&A) Activities
In April 2021, Envestnet acquired fintech innovator Harvest Savings & Wealth Technologies, which provides automated goals-based saving tools and wealth solutions to banks, credit unions, trust companies, and other financial institutions. br> Envestnet acquired PIEtech Inc in May 2019. PIEtech is the creator of the MoneyGuide family of financial planning applications, integrated with more than 150 wealth management data and technology providers, nearly 2 million financial plans have been created using MoneyGuide solutions in 2018.
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 Tamarac, Yodlee Financial Cloud, Envestnet Data & Analytics customers.
Envestnet Overview
Ownership: - NYSE: ENV
Number of Employees: 4250
Functional Markets: Analytics and BI, ERP Financial, ERP Services and Operations Management, PaaS,
Key Verticals: Banking and Financial Services,
Envestnet Key Enterprise and Cloud Applications
Tamarac, Yodlee Financial Cloud, Envestnet Data & Analytics
Envestnet Revenues, $M:
| Type/Year | 2020 | 2021 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Envestnet Revenue Breakdown By Type, $M:
| Type | License | Prof. Services | Hardware | Support & Maintenance | SaaS | PaaS | IaaS | Other (Non Enterprise Application Revenues) | Total |
|---|---|---|---|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | 100% |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
Envestnet Enterprise Applications Revenues By Functional Markets, $M:
Envestnet Enterprise Applications Revenues By Verticals, $M:
Envestnet Revenues By Region, $M
| Region | % of Total Revenues | 2021 Total Revenues, $M | 2021 Enterprise Applications Revenues, $M | 2021 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Envestnet Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Envestnet Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Envestnet Customers
No. of Envestnet Customers: 4900
No. of Envestnet Enterprise Applications Customers: x
No. of Envestnet Cloud Customers: x
No. of Envestnet Cloud Subscribers: 30 million
More than 103,000 advisors and more than 4,900 companies including: 16 of the 20 largest U.S. banks, 46 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs and hundreds of internet services companies, leverage Envestnet technology and services. Over 1,200 financial institutions, financial technology innovators and financial advisory firms, including 15 of the 20 largest U.S. banks, subscribe to the Envestnet Data & Analytics platform
Among Envestnet customers are Fidelity Investments, Northwestern Mutual, National Financial Partners, National Planning Holdings, Russell Investments, HighTower, US Bank, Scotiabank, Fifth Third Bank, and many others.
Envestnet Market Opportunities, M&A and Geo Expansions
In November 2021, Dawn Newsome joined the firm as Chief Business Operations Officer. As a member of the executive team, Dawn will ensure Envestnet remains well-positioned to continue building and expanding its financial wellness network.
The acquisitions of PortfolioCenter and PIEtech contributed to increased revenues to subscription-based recurring revenues in 2019.
In the last five years, Envestnet has shelled out more than $800 million to acquire eight companies, the latest and most expensive being the $590 million purchase of Yodlee, a cloud-based data analytics firm. It was acquired in August 2015.
With the acquisition of Yodlee, now operating as Envestnet | Yodlee, Envestnet offers leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. Their customers for this service include financial institutions, Internet services companies providing innovative financial solutions and third-party developers of financial applications. Envestnet's financial institution customers subscribe to the Envestnet | Yodlee platform to power offerings that improve consumer satisfaction and enhance engagement while capturing cross-sell and up-sell opportunities.
Their current network of financial institution customers alone reaches more than hundreds of million end-users, representing a significant opportunity to grow the paid user base within existing customers. Its customers that are Internet service companies have an increasingly large and diverse base of users that also provides additional growth opportunities."
Envestnet Risks and Challenges
To the extent Envestnet grows their business through acquisitions, any such future acquisitions could present a number of other risks, including:
• incorrect assumptions regarding the future results of acquired operations or assets or expected cost reductions or other synergies expected to be realized as a result of acquiring operations or assets;
• failure to integrate the operations or management of any acquired operations or assets successfully and in a timely and cost-effective basis;
• insufficient knowledge of the operations and markets of acquired
businesses;
• loss of key personnel;
After buying Yodlee for its database of personal financial information from digital banking to online purchases in 2015, Envestnet needs to establish key differentiators in order to better compete with a wave of fintech startups, some of which have been able to beat Yodlee at its own game by exploiting the ubiquity of mobility and peer to peer transactions. Additionally, incorporating its acquisitions in a profitable way is also a challenge.
Envestnet Ecosystem, Partners, Resellers and SI
In 2021, Envestnet YieldX, a FinTech company reimagining fixed income, entered into a strategic relationship. Envestnet will distribute YieldX technology and products through its platform, empowering advisors to help clients achieve better fixed-income investment outcomes. Completing a year of significant growth and opportunity, YieldX also closed its round of Series A funding led by Envestnet.
In 2020, Envestnet expanded its presence in Canada with pair of strategic partnerships. It partnered with Toronto-based automated communication and marketing platform AdvisorStream to create a new application that leverages clients’ financial data so that advisors can provide them with personalized, compliance-approved media content that’s relevant to their unique situations.
Earlier, Canaccord Genuity Group added Envestnet’s Enterprise Portal platform to its Canaccord Genuity Wealth Management business, giving its advisors and portfolio managers access to enhanced account-management tools and performance reporting."
Envestnet Cloud Infrastructure Insights
Subscribe to read more about:
- Envestnet Public Cloud and Infrastructure (IaaS)
- Envestnet Platform (PaaS)
- Envestnet Application Delivery
- Envestnet Private Cloud and Data Centers
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:
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