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With Envestnet-Yodlee help, Charles Schwab & Co. puts finishing touch on freemium model with free planning; it also -- Personal Capital style -- launches freebie tools for non-Schwab clients

The San Francisco-brokerage is private-labelling MoneyGuidePro plan software and Yodlee for aggregated account data, to launch free retirement planning onto the market ahead of closing its merger with TD Ameritrade.

Author Oisin Breen August 22, 2020 at 5:05 AM
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Cynthia Loh continues to draw up a digital model at Schwab.

Peter Giza

Peter Giza

August 22, 2020 — 12:41 PM
The talk of all this wonderful collection of client data into support system(s) and various tools such as planning etc., is a very important step in our industry's technological advancement. It's a bit ironic that we are getting closer to the reality of STP (straight thru processing) being the norm in an atmosphere of low to no cost products and applications. It's the age of digital commoditization. WRT to the use of data and how we manage it, we're 5 years behind, but at least we've arrived! Pete Pete Giza | CPO [ AdvisorPeak
Stephen Chen

Stephen Chen

August 23, 2020 — 10:15 PM
It's always scary as an early stage company to see a huge firm following your playbook, but hopefully it's good validation for our model at https://www.newretirement.com/ We continue to believe that being fully independent (freemium / subscription model), super low cost (no huge infrastructure driving upsells or hidden fees) and 100% focus on our own in house digital first planning platform will let us successfully compete. Guess we'll find out.

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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

A canary in the coal mine, Amy Richardson left Charles Schwab & Co. for an RIA -- before the 2,000 layoffs -- now a robust job market is saving the Schwab diaspora, she says

The former Schwab director wants former colleagues to know life exists after Schwab and good job opportunities are plentiful in the financial services sector.

December 20, 2023 at 1:52 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

Biz Briefs: The sorry scene at my local First Republic branch • Schwab launches new (smaller) lay-off round • Schwab hoovers pennies passing FINRA fee to clients • Gensler pleas for funds • Fidelity owner's private equity pres. retires • an Orion-Envestnet staff switcheroo • LPL dumps FutureAdvisor

Range Rovers screeched in and drivers joined a grim queue to get their cash, and cookie • The Schwab-TDA deal cull count now stands at roughly 3.5% of its staff • FMR's hockey star president has stepped down • SEC chief wants more enforcers • An Envestnet executive proves joining a rival is good business • LPL now has an in-house robot.

April 29, 2023 at 1:36 AM

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Mentioned in this article:

Envestnet Inc
Top Executive: Jud Bergman

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