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Envestnet (NYSE: ENV) | Company Profile, History, Competitors


Envestnet (NYSE: ENV) provides software for financial institutions and wealth management firms. The company provides a wide range of solutions in turnkey asset management (TAMP). As of 2017, Envestnet has 2,900 customers including banks, brokerage firms and investment advisors in the United States. It was founded in 1999 and headquartered in Chicago, IL.

Envestnet was founded in 1999 by Judson Bergman to build wealth management tools for financial institutions. Envestnet offers software for financial planning, investment due diligence, portfolio management and tax planning. In 2015, the company acquired Yodlee to provide users with financial data aggregation tools from different financial institutions.

Business Model

Envestnet provides several software services:

Envestnet Advisor Suite
Platform of integrated solutions for financial advisors including financial planning, portfolio construction, account opening/servicing, and reporting.

Envestnet | PMC
Provides consulting services including investment manager due diligence.

Envestnet | Tamarac
Provides portfolio accounting, rebalancing, trading, reporting and relationship management software to Registered Investment Advisors

Envestnet | WMS
Provides wealth management platform that allows trading across multiple separate accounts.

Envestnet | Placemark
Provides Unified Managed Account and other portfolio management outsourcing solutions including tax optimization services for financial institutions.

Provides data aggregation of an individual's financial data from different financial institutions. Provides data and analytics of the performance of financial institutions.


Envestnet charges fees as a percentage of assets that are managed/administered on their platform by financial advisors. Under the Yodlee platform, Envestnet charges based on number of active users on the platform.


As of 2017, Envestnet has 2,900 customers. These include:
Banks: Bank of America, BMO, Citi, Comerica, Fifth Third Bank, JPMorgan Chase, Scotiabank, US Bank
Custodians: Charles Schwab, Pershing, Ameritrade
Broker Dealers: Ameriprise Financial, Baird, Northwestern Mutual, Sterne Agee, Thrivent Financial
FinTech: PayPal, Venmo, Lifelock, Google, Kabbage, Learnvest
Registered Investment Advisors: HighTower, Veris, Russell investments, Sumnicht & Associates, Dynasty Financial Partners, Loring Ward


Envestnet competes with turnkey asset management platforms that provide outsourcing of administrative functions for financial advisors. These include BNY Mellon, Genworth Financial and SEI Investments.


The company was founded in 1999 by Judson Bergman in order to develop wealth management tools for independent financial advisors. In 2006, the company surpassed $50bn in total assets under management.

In 2010, the company went public. In 2012, the company acquired Tamarac. in 2015, the company acquired Yodlee.


Judson T. Bergman (CEO): Judson Bergman serves as CEO and Founder since 1999. Prior, he was a Managing Director at Nuveen Investments.

Peter D'Arrigo (CFO): Peter D'Arrigo serves as CFO since 2008. Prior, he was Treasurer at Nuveen Investments.


 $ USD in millions    2013    2014 2015 2016 2017
 Revenues $243 
 Gross Profit $144 
 Operating Profit $6 $21 
 Net Income$4 

Envestnet, Inc.
  Ticker     NYSE: ENV
  Industry Technology
  Founded 1999
  Headquarters Chicago, IL
  Customers 2,900 (2017)
$684mm (2017)
  Employees 3,156 (2017)