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Envestnet lets the 'Wolfe' in the door after she huffed and puffed in the media -- now she promises to deliver 'ownership mentality' on the outsourcer's board

Lauren Taylor Wolfe simply would not take 'no' for answer, an activist shareholder tactic that is bearing her fruit; Envestnet's shares stayed flat while she made clear she has more cards to play.

Author Brooke Southall March 29, 2023 at 1:33 AM
no description available
Lauren Taylor Wolfe's board appointment was "informed by Envestnet's ongoing dialogue with shareholders."
Keith Girard contributed to the editing of this article.

Bill Crager

Brian Murphy

Brian Murphy

April 3, 2023 — 12:15 AM
Great to hear Lauren Wolfe made it onto the Envestnet board, but I fear she did so to her fund's detriment. I suspect as the cooperation agreement looks more like a greenmail tactic by Envestnet to buy time and limit Wolfe's ability to get much of anything done (2 of 7 votes isn't overly compelling). My guess is that she leaves at the end of the 2 year tie-up with an investment worth less than it is now, and without much change in the status quo. That said, I hope I'm wrong. Maybe she can draw in other activist investors to add pressure.
Kevin Starkey

Kevin Starkey

April 3, 2023 — 7:27 PM
Not surprised Ms Wolfe jumped in after reviewing Envestnet's YoY Topline and Net Income numbers in the recent 10-K. This will be great to watch knowing financials finally matter in this environment, ESG mandates are justifiably being questioned and Envestnet has much work to do on their financials. It was interesting to see a 10-K lead with a AUM graph...my guess is Envestnet is taken out by a bigger, deeper pocketed player within 18-24 months.

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Mentioned in this article:

Envestnet Inc
Top Executive: Jud Bergman

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