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Articles tagged "Bill Crager"


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Bill Crager: Chose to leave because he had teed up the company for next leaders.

Envestnet shares popped -- up 8% today -- after Wall Street filtered out bad news and staked its bet on confidence in a new team

The Berwyn, Pa., firm sugar-coated nothing but ended up with a sweet stock price result as analysts see good outweighing bad.

February 24, 2024 at 3:33 AM

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

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'

February 23, 2024 at 3:18 AM

The Sora Finance co-founders were named top emerging technologists.

Familiar faces -- Bill, Eric, Oleg and Joel -- dominate Day One at T3 but Syntax Data and SoraFinance get their moment -- and Oleg brandishes app marvel

The big companies like Orion, Envestnet and Invent cement the 20th anniversary of the Joel Bruckenstein event with bundle-ism, but green sprouts of new firms are everywhere; the kids get AI

January 24, 2024 at 6:27 AM

Bill Crager: The work we just completed opens the gateway to the future of advice.

Bill Crager is dropping CEO role after multiple shoes dropped; the company insists it was his 'decision' but vision, Yodlee future uncertain

The co-founder of the $5.3-trillion AUA outsourcer of software and investments was pressed to take the job under the most adverse circumstances, then second-guessed by stakeholders as he managed the cards he was dealt.

January 9, 2024 at 4:09 AM

Bill Crager: Our industry's ability to deliver greater advice required an automated connected technology platform.

Envestnet finally may dump Yodlee, says a Bloomberg report, but either way it remains a 'wasting' asset as regulators crack down, an analyst says

Former CEO Jud Bergman made daring move in 2015 with expensive Yodlee purchase to lift the outsourcer into the big leagues but has proven mostly to be an albatross, at least to earnings

December 15, 2023 at 2:18 AM

Alex Kramm: This is looking like something is broken.

'Something-is-broken' question draws no resounding response at Envestnet Q3 earnings call; shares still bleed, but execs see a 2024 cash flow rebound and flash an ace in the hole -- RIAs

A UBS analyst asked Envestnet's new chief finacial officer -- fresh out of BlackRock - -- if he could share in his behind-the-curtain first look and got a circumstantial answer

November 14, 2023 at 3:26 AM

Joshua Warren will execute with speed, scale, efficiency and value to clients.

Bill Crager makes critical hire of 'step back from the numbers,' Joshua Warren, replacing 'brother' Pete D'Arrigo at CFO; Warren had a big role at BlackRock -- Envestnet's biggest stakeholder

The Envestnet CEO gets 'very, very impressive' 43 year-old BlackRock exec; the New York asset manager happens to be Envestnet's largest stakeholder.

September 27, 2023 at 2:48 AM

Bill Crager: We have exited the investment cycle … [and] are focused on managing our bottom line and driving margin expansion.

Bill Crager signals comity with Lauren Taylor Wolfe and Envestnet also has a Sipp secret weapon, analyst says

The Envestnet CEO says he has 'constructive alignment and full support' of Wolfe and his board and has pivoted to a focus on 25% profit margins -- and no extra cash flow burn for reinvestment

August 11, 2023 at 12:36 AM

Lauren Taylor Wolfe's board appointment was "informed by Envestnet's ongoing dialogue with shareholders."

Envestnet lets the 'Wolfe' in the door after she huffed and puffed in the media -- now she promises to deliver 'ownership mentality' on the outsourcer's board

Lauren Taylor Wolfe simply would not take 'no' for answer, an activist shareholder tactic that is bearing her fruit; Envestnet's shares stayed flat while she made clear she has more cards to play.

March 29, 2023 at 1:33 AM

Bill Crager: Of course, we're aware of the filings and publication that Impactive has published.

Bill Crager rebuts what activist hedge fund investor alleged by promising Envestnet is 'turning corner' on profit margins

The embattled CEO says he 'talked to lots of investors' last quarter during the verbal assault and also laid out his case to Wall Street analysts -- Envestnet's profit margins and market share are expanding.

February 24, 2023 at 1:30 AM

Tony Leal felt the time was right to transition from the company.

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

The RIA software 'trailblazer' and co-founder of MoneyGuidePro has been working on departure for a year; will transition to a 'consultant,' company says

January 7, 2023 at 1:50 AM

Lauren Taylor Wolfe: Change must begin at the Board level.

Lauren Taylor Wolfe goes for Envestnet's throat by demanding four of seven board seats -- including her own -- in what one analyst views as a budding 'hostile [board] takeover'

The 7.5% stakeholder in New York City claims the Berywn. Pa., firm has been run with an 'abandonment of fiduciary responsibility.'

January 5, 2023 at 5:16 AM

Lauren Taylor Wolfe: Management and the board seem to have attempted Kabuki theater.

After Envestnet rebuffed an ESG hedge fund's demand for a board seat, the fund managers sent a shrill, scalding letter in retaliation to force the issue

The Berwyn, Pa., firm invited invective by allegedly stiff-arming the startup ESG fund's request, even though it holds a 7.2% stake in the company.

November 16, 2022 at 2:49 AM

Bill Crager: We look forward to working closely with FNZ to provide scaled, streamlined, deeply connected experiences

Bill Crager reads the room and commandeers State Street's old RIA custody unit for Envestnet with FNZ deal

With sandbox rules out the window, Envestnet CEO will private label re-branded State Street Wealth Manager Services -- 'one of biggest long-term opportunities to date,' analyst writes

November 10, 2022 at 10:48 PM

Ron Ransom: 'You can't be all things to everyone.'

Envestnet just named an ESG head to meld 'wellness,' 'The Intelligent Financial Life' and 'sustainable investing' into a single nirvana -- that starts outside of the product realm

Ron Ransom earned CEO Bill Crager's trust as chief business development officer and now will define how Envestnet conducts itself as a global citizen and vendor of wellness.

July 27, 2022 at 2:27 AM

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