SMArtX is loading up on Envestnet talent as re-peopling rolls on -- post Morningstar disruption -- with two hires from the Berwyn, Pa., TAMP
The West Palm Beach, Fla., TAMP is getting Courtney Robertiello and Jacqueline Burke, and their staggering 29 years of experience for 'growth and innovation,' the company says.
3 min read- SMArtX Advisory Solutions hires two Envestnet veterans to bolster growth initiatives.
- Robertiello will advise enterprise and RIA clients; Burke will lead data analytics.
- Hires follow AssetMark's acquisition of Morningstar's TAMP, impacting SMArtX assets.
Brooke's Note: In the RIA journalism world you can hardly scroll a screen's length through email without stumbling on a TAMP development that is hard to ignore. Whether it's DFA becoming a TAMP, Envestnet seeking a CEO, Orion creating silos, AssetMark going private, Morningstar bailing out or Fidelity FMAX …stay tuned until Friday. It never stops. SMArtX is part of the action and hiring two talents from Envestnet. What we don't have is a clear market leader, but with all this creative destruction, experimentation and reconstruction going on, maybe one player will alight on a just-right solution that advisors will gravitate toward.
SMArtX Advisory Solutions is one of a number of upstart TAMPs with ambitions to disrupt players like Envestnet and AssetMark as it continues to hire staff from legacy providers.
The West Palm Beach, Fla., TAMP and turnkey asset management program software maker hired two Envestnet veterans – Courtney Robertiello and Jacqueline Burke – who have 29 years of combined experience at Envestnet.
Both executives joined SMArtX two months ago. Envestnet laid off about 5% of staff in September.
SMArtX issues its own press release one day after Morningstar's ominous news about AssetMark deal -- that could yank $12 billion from SMArtX back to APL
"Their proven track record and reputations for partnership-focused engagement makes me confident in their ability to propel SMArtX toward significant growth and innovation," says Dave Robinson, executive vice president, head of strategic relationships, at the company.
Growth focus
Robertiello, a 21-year Envestnet veteran, is senior vice president of enterprise consulting and will advise SMArtX’s enterprise and RIA clients.
She'll focus on how to support, grow, expand and manage relationships with investors. She was vice president, senior enterprise consultant at Envestnet.
Story Timeline
Two Things: Avantis follows LPL as B2B seller that is advertising directly to its very B2C users' users; Envestnet sees yet another 'RIA' executive pop up at a rival as it embarks on its own HR fresh start
Burke, with eight years at Envestnet, takes on the role of vice president, asset manager solutions to lead the firm’s data analytics platform and work with asset management partners “to grow their distribution footprint.”
She joined Envestnet as part of its acquisition of Wheelhouse Analytics in 2016 and worked most recently as Director, data analytics & sales.
Expanding roster
Robinson and Dan Phillips’ were both hired after AssetMark announced its intent to buy Morningstar's $12-billion TAMP, likely causing SMArtX to lose those assets as AssetMark moves them onto the APL platform it uses.
“Robertiello and Burke are poised to elevate SMArtX's offerings to RIAs, broker-dealers, asset managers, custodians, and fintech firms,” the SMArtX release reads.
“Their expertise is key to driving SMArtX's expansion and enhancing its position in the wealth management industry.”
Burke is based in West Chester, Pa., [near Berwyn] and Robertiello lives in Garden City, N.Y. Both will work remotely.
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