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Envestnet buys Yodlee and its treasure trove of 'permissioned' data by selling its vision of the future of financial advice

The Chicago overachiever's deal is its third Silicon Valley acquisition overall, and second this year

Author Brooke Southall August 10, 2015 at 10:11 PM
no description available
Anil Arora: There’s an enormous transformation going on in financial services, and we’re going to accelerate that.

Related Moves

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 at 1:42 AM

Behind the scenes, Envestnet's board of directors had much to tussle over before finally subtracting the 'interim' from Bill Crager's CEO title

With Jud Bergman gone at a chairman, a power struggle ensued to fill that spot, and the process dragged when taking the company private came under review

April 2, 2020 at 2:34 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

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

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

See more related moves

Mentioned in this article:

eMoney Advisor LLC
Financial Planning Software
Top Executive: Edward O’Brien

Envestnet Inc
Top Executive: Jud Bergman

Morningstar, Inc.
Top Executive: Joe Mansueto

Stephen Winks

Stephen Winks

August 11, 2015 — 8:47 PM

Yodlee has come a long way from screen scraping. It positions Envestnet to empower advisors to discern whether a recommendation adds value in the context of all a client’s holdings. This is the threshold question in advisory services, not routinely addressed in a brokerage format. It is literally individualized advice required for fiduciary duty. The Yodlee/EnvestNet combination bodes great things for advisory services. Now all that left is a simplifying authenticated prudent investment process in support of fiduciary standing which would remove confusion in brokerage circles as what is in the clients best interest, removing fear of fiduciary duty.

Stephen Winks

Bill Winterberg

Bill Winterberg

August 13, 2015 — 1:20 PM

For the record, “virtually all advisors” do NOT “have some ability to view accounts held away.”

Unless you count requesting clients’ paper statements.

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