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Envestnet shares nosedive before regaining some ground after Bill Crager lays out bold new 'post-COVID' vision and tosses one 'curveball'

The stock lost 20% of its value Friday (Feb. 26), after the Chicago outsourcer's CEO revealed plans to be a digital supermarket to financial supermarkets but at the expense of some 2021 earnings growth

Author Brooke Southall March 2, 2021 at 2:47 AM
1 Comment
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Bill Crager: I think we need to accelerate post-COVID the investment to get there faster.


Brian Murphy

Brian Murphy

March 2, 2021 — 6:08 AM
When Mr. Crager says "Envestnet is the company that is best positioned," - he's right...they're best positioned to fight the last war. The industry is morphing before our eyes and unfortunately Envestnet looks to be one of the last to notice. If he's going to spend $20MM on personnel, he'd be well advised to rethink where the industry is headed - how consumers will get their advice in 20 years and who's going to be providing it for them. It's not going to come from "the Costco of financial service providers". And that's distasteful medicine that needs to be swallowed.

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April 2, 2020 at 2:34 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 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 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

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