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Articles tagged "Envestnet"


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Jeff Schmitt: Schwab awaits potential changes that could increase bank capital requirements.

Briefs: Schwab shares soar past $71 as two negatives get more positive • Yodlee upgrades after writedown • eMoney's new dashing portal lands • Ritholtz drops freebie

Schwab pares short-term borrowing costs • Yodlee hires document-scraper • eMoney adds portal customization • Ritholtz settles into middle-age with fatter fees.

March 22, 2024 at 12:33 AM

Dani Fava: I've thoughtfully selected my next home at a company well-placed to capitalize on emerging industry trends.

Dani Fava is out at Envestnet -- to capitalize on AI revolution at a new firm, she hints

The ex-TD Ameritrade talent was hired by CEO Bill Crager in 2020 to harmonize acquisitions -- not least MoneyGuidePro and Yodlee that the company still grapples with

March 20, 2024 at 1:25 AM

Bill Crager: Chose to leave because he had teed up the company for next leaders.

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

Tom Sipp: [Envestnet Data & Analytics] had a lot of challenges in 2023, [including] a data-loss now restored.

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'

February 23, 2024 at 3:18 AM

The Sora Finance co-founders were named top emerging technologists.

Familiar faces -- Bill, Eric, Oleg and Joel -- dominate Day One at T3 but Syntax Data and SoraFinance get their moment -- and Oleg brandishes app marvel

The big companies like Orion, Envestnet and Invent cement the 20th anniversary of the Joel Bruckenstein event with bundle-ism, but green sprouts of new firms are everywhere; the kids get AI

January 24, 2024 at 6:27 AM

Bill Crager: The work we just completed opens the gateway to the future of advice.

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: Our industry's ability to deliver greater advice required an automated connected technology platform.

Envestnet finally may dump Yodlee, says a Bloomberg report, but either way it remains a 'wasting' asset as regulators crack down, an analyst says

Former CEO Jud Bergman made daring move in 2015 with expensive Yodlee purchase to lift the outsourcer into the big leagues but has proven mostly to be an albatross, at least to earnings

December 15, 2023 at 2:18 AM

Alex Kramm: This is looking like something is broken.

'Something-is-broken' question draws no resounding response at Envestnet Q3 earnings call; shares still bleed, but execs see a 2024 cash flow rebound and flash an ace in the hole -- RIAs

A UBS analyst asked Envestnet's new chief finacial officer -- fresh out of BlackRock - -- if he could share in his behind-the-curtain first look and got a circumstantial answer

November 14, 2023 at 3:26 AM

Lawrence Fink: We love the opportunity of having Aperio.

BlackRock brass cited 'Aperio' again and again, today, amid analysts' grilling about 'depressed flows' -- it bought the direct-indexing unit in the feverish grab of 2020-2021

CEO Larry Fink and CFO Martin Small used the $39-billion unit, acquired for $1 billion, to show they can both grow organically and explain why they plan a new M&A round to grow inorganically.

October 14, 2023 at 1:18 AM

Joshua Warren will execute with speed, scale, efficiency and value to clients.

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: We have exited the investment cycle … [and] are focused on managing our bottom line and driving margin expansion.

Bill Crager signals comity with Lauren Taylor Wolfe and Envestnet also has a Sipp secret weapon, analyst says

The Envestnet CEO says he has 'constructive alignment and full support' of Wolfe and his board and has pivoted to a focus on 25% profit margins -- and no extra cash flow burn for reinvestment

August 11, 2023 at 12:36 AM

Ann Garcia: Super frustrating to reach back out to clients.

Envestnet recalls buggy MoneyGuidePro upgrade after RIA backlash, and all advisors are -- for now -- back on the legacy version

The Berwyn, Pa., firm concedes its roll-out 'disrupted' advisors businesses, but advisors remain as miffed about the 'zero' communication and slowness to take action as they are about haywire systems.

June 2, 2023 at 2:32 AM

Bill Crager: 'All economics related to custody average around 15 basis points.'

Envestnet will roll out RIA custody by 2024, disputing Bernie Clark's lean Schwab profit math, by citing average 15-basis-point margins

The Berwyn, Pa. company says Schwab's own public disclosures Clark's 'nine basis point' claims, though Envestnet will likely need to hand over as much as half the take to FNZ, a competitor says

May 13, 2023 at 1:03 AM

Gabriel Garcia: We’re focused on getting loud in the RIA space.

With a 'loud' RIA custody outburst under ex-Schwabbie, SEI piles onto a mob effort to break Schwab/TDA RIA custody stranglehold

Gabe Garcia is not alone seeing Schwab's ballooning scale as something to pop-- with Envestnet, Altruist, Goldman, LPL, TradePMR and AssetMark all working on new delivery models.

May 5, 2023 at 3:44 AM

Lauren Taylor Wolfe's board appointment was "informed by Envestnet's ongoing dialogue with shareholders."

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.

March 29, 2023 at 1:33 AM

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