News, Vision & Voice for the Advisory Community


SEI makes its play for big RIAs by doing some un-SEI things

The Oaks, Pa. TAMP, long doctrinaire about its closed approach, is taking big steps to open up but it still may not be enough, say some advisors and competitors

Tuesday, June 26, 2012 – 2:26 PM by Kelly O'Mara
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Steve Onofrio: We needed the new wealth platform to enable a new business model.

Related Moves

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 – 2:27 AM

Envestnet and Edmond Walters end odd couple 'Apprise' relationship with buyout, but leave open the door to jointly pursue RIA-to-entrepreneur dashboard... later

The MoneyGuidePro owner and eMoney founder execute clean break with Apprise IP rebranded as 'Wealth Studio.' Walters off to the races with a startup and vague promise to collaborate later.

April 6, 2021 – 12:50 AM

Envestnet turns to former FIS executive -- and replaces a CTO -- to help shape up the firm's disparate offerings into a unified whole around the concept of 'wellness'

The Chicago outsourcer gets Donna Peeples to harmonize products and marketing to move beyond the 'TAMP' label as Orion contends for market share with Brinker added.

November 10, 2020 – 2:45 AM

Envestnet nabs Dani Fava to cross-pollinate semi-autonomous units and reap 'financial wellness' as the end product

The Chicago outsourcer has a massive, partially disconnected arsenal of products that CEO Bill Crager is rationalizing into 'wellness' with yet another new unit.

July 23, 2020 – 1:42 AM

Mentioned in this article:

Tiburon Strategic Advisors
Consulting Firm
Top Executive: Charles Roame

Envestnet Inc
Top Executive: Jud Bergman

SEI Advisor Network
Top Executive: Wayne Withrow

Envestnet | Tamarac
Portfolio Management System, CRM Software, Trading/Rebalancing
Top Executive: Stuart DePina

Stephen Winks

Stephen Winks

June 26, 2012 — 6:27 PM

There is a terrific need for innovation in simplifying the delivery of advisory services. Adhesion’s success is based on its responsiveness to advisors, while custodians and large TAMPs are largely selling the capabilities they have in a vacuum of what advisors need and/or require.

In the absence of simplifing, expert, comprehensive advisory services support, incremental advances in advisory services support unnecessarily complicate the business.

Dick Smith is absolutely correct, there is a lot of hyperbole in the industry, especially in advisory services. Wouldn’t it be nice if advisors and their client’s could rely the continuous comprehensive counsel supported by a broker/dealer or custodian. It doesn’t exist. B/ds and custodians don’t want the fiduciary liability and the poor advisor must bear the burden alone. One of these days, someone will be in the game with the advisor, for the benefit for all. Uncommon expertise in the brokerage and custody worlds is required which may tip the scales in the direction of Adhesion-like firms which have independently created critical mass, are unconflicted, and have not ax to grind other than what works best.


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