News, Vision & Voice for the Advisory Community


On Bill Crager's last CEO call, Envestnet does bad-news dump -- a big Yodlee-related write-off -- but dangles bright future where Tamarac becomes the mouth of its sales funnel

The outsourcer swallowed a $191-million bitter pill, explained the data disaster that led to it, offered minimal forward guidance on results, or a future CEO, but Tamarac RIAs are catching on as SMA clients and imminent RIA custody is deemed 'extremely strategic'

Author Brooke Southall February 23, 2024 at 3:18 AM
no description available
Tom Sipp: [Envestnet Data & Analytics] had a lot of challenges in 2023, [including] a data-loss now restored.
Keith Girard contributed to the editing of this article.

Brian Murphy

Brian Murphy

February 23, 2024 — 5:43 AM
Not surprising...same shit, different quarter. Yodlee write down - check. Strong strategic growth initiatives just about to pay off handsomely (but not quite yet) - check. Praise for departing CEO for at least partially getting them into the mess that is Envestnet - check. How's that "activist" shareholder working out? I call BS - there is no big vision that's been provided and critically analyzed here; they're certainly not going to become a major custodian. How about doing a more critical analysis of what's not working for ENV? Maybe contact some of the Wall Street analysts on the earnings call and get their take. Problem I see with most of the pieces on RIABiz (and this one in particular) is a lack of journalistic pushback on some of these long running stories that just never quite come to fruition. I'd certainly like to see more of that!


February 27, 2024 — 6:08 PM
After Yodlee India office shutdown, now Envestnet is onto closing Yodlee as a whole. It was a clear mismatch deal. Some other retail financial segment should have purchased Yodlee and it would have grown and prosper. Anyone asking on what activist share holder who forcefully joined Env board doing? Share price is not at all improving. Write a article on what is she doing and how and by when she will help the shareholders which was she claiming while asking for board membership.

Related Moves

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

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

See more related moves

Mentioned in this article:

Envestnet Inc
Top Executive: Jud Bergman

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING

RIABiz Directory sponsored by:

Directory Sponsor Logo