On Bill Crager's last CEO call, Envestnet does bad-news dump -- a big Yodlee-related write-off -- but dangles bright future where Tamarac becomes the mouth of its sales funnel

The outsourcer swallowed a $191-million bitter pill, explained the data disaster that led to it, offered minimal forward guidance on results, or a future CEO, but Tamarac RIAs are catching on as SMA clients and imminent RIA custody is deemed 'extremely strategic'

Author Brooke Southall February 23, 2024 at 3:18 AM

2 Comments

Tom Sipp: [Envestnet Data & Analytics] had a lot of challenges in 2023, [including] a data-loss now restored.

Keith Girard contributed to the editing of this article.

TAMPs

Bill Crager

Envestnet

Yodlee

Josh Warren

Tom Sipp

Brian Murphy

February 23, 2024 — 5:43 AM

Not surprising...same shit, different quarter. Yodlee write down - check. Strong strategic growth initiatives just about to pay off handsomely (but not quite yet) - check. Praise for departing CEO for at least partially getting them into the mess that is Envestnet - check. How's that "activist" shareholder working out? I call BS - there is no big vision that's been provided and critically analyzed here; they're certainly not going to become a major custodian. How about doing a more critical analysis of what's not working for ENV? Maybe contact some of the Wall Street analysts on the earnings call and get their take. Problem I see with most of the pieces on RIABiz (and this one in particular) is a lack of journalistic pushback on some of these long running stories that just never quite come to fruition. I'd certainly like to see more of that!

Anonymous

February 27, 2024 — 6:08 PM

After Yodlee India office shutdown, now Envestnet is onto closing Yodlee as a whole. It was a clear mismatch deal. Some other retail financial segment should have purchased Yodlee and it would have grown and prosper. Anyone asking on what activist share holder who forcefully joined Env board doing? Share price is not at all improving. Write a article on what is she doing and how and by when she will help the shareholders which was she claiming while asking for board membership.

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February 24, 2024 at 3:33 AM

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January 9, 2024 at 4:09 AM

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September 27, 2023 at 2:48 AM

Bill Crager shuffles the deck on management team created just seven months ago: Tony Leal is out of 'Big Three' inner circle, replaced by Morgan Stanley vet Rose Palazzo

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January 7, 2023 at 1:50 AM

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Envestnet Inc
TAMP
Top Executive: Jud Bergman