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Bill Crager rebuts what activist hedge fund investor alleged by promising Envestnet is 'turning corner' on profit margins

The embattled CEO says he 'talked to lots of investors' last quarter during the verbal assault and also laid out his case to Wall Street analysts -- Envestnet's profit margins and market share are expanding.

Author Brooke Southall February 24, 2023 at 1:30 AM
1 Comment
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Bill Crager: Of course, we're aware of the filings and publication that Impactive has published.
Keith Girard contributed to the editing of this article.

Bill Crager

Brian Murphy

Brian Murphy

February 24, 2023 — 4:36 AM
I still stand with Wolfe after reviewing the most recent quarterly results...but the stock is so far ahead of fair valuation metrics, it's hard to make the case it remains "undervalued". Perhaps Impactive should just exit and (hopefully) post a small gain, if they have one. Alternatively bring in a bigger hitter (Starboard comes to mind) to assist and put a lot more pressure on the management team. Envestnet is constantly playing catch-up with the last industry trends...getting into direct indexing, and tax-loss harvesting in an "also ran" position. Nothing points to this fact more then their chasing a cash management at this point in the market cycle. They're just playing the game wrong with no shown foresight into upcoming trends. I still maintain that Yodlee is a very under-appreciated asset that should play an increasingly important role for tomorrow's asset management industry, but it too has been completely mis-managed. Given that they haven't gotten the traction expected with Yodlee that one would have expected, they should be building out a consumer facing app to take directly to market perhaps similar to what Square has done w/ the CashApp. E-mail me and I'll suggest ways to leverage it better.

Related Moves

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

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

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Mentioned in this article:

Envestnet Inc
Top Executive: Jud Bergman

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