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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
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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.

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Mentioned in this article:

Envestnet Inc
Top Executive: Jud Bergman

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.

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