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A perfect storm of factors -- including 'code' and 'annuities' -- made Jud Bergman pay Bob Curtis $500 million for MoneyGuidePro, plus $30 million to keep the MGP crew around a few more years

MoneyGuidePro's growth rate is declining, it's only '5% accretive' and Envestnet is already fully integrated, but unless the price got paid, the broader network was out in the cold

Author Brooke Southall March 15, 2019 at 12:55 AM
3 Comments
no description available
Jud Bergman: 'We need to own it rather than rent it. We need the code base.'

Jud Bergman

|

Bob Curtis


Bill Winterberg

Bill Winterberg

March 15, 2019 — 2:26 AM
SS&C acquired Advent *Software* (pretty sure that's an advisor software company, not a data company) for $2.63 billion in 2015, making it a larger advisor software deal than the PIETech acquisition.
Brooke Southall

Brooke Southall

March 15, 2019 — 2:29 AM
Excellent point. I'll modify.Maybe private company biggest?
Mark Kristensen

Mark Kristensen

March 15, 2019 — 8:01 PM
Jud and Craeger continue to dazzle as a duo with track record of strategic execution The quintessential FinTech visionary!

Related Moves

January 9, 2024 at 4:09 AM

Dani Fava is out at Envestnet -- to capitalize on AI revolution at a new firm, she hints

The ex-TD Ameritrade talent was hired by CEO Bill Crager in 2020 to harmonize acquisitions -- not least MoneyGuidePro and Yodlee that the company still grapples with

March 20, 2024 at 1:25 AM

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

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

See more related moves

Mentioned in this article:

MoneyGuidePro
Financial Planning Software
Top Executive: Bob Curtis

Envestnet Inc
TAMP
Top Executive: Jud Bergman



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