Envestnet

Envestnet is an American financial technology company founded in 1999 and headquartered in Berwyn, Pennsylvania. The company develops and distributes wealth management software, data, and analytics to financial advisors and institutions across the United States. Its core offering is an advisory platform that integrates the full range of services and software used by financial advisors in wealth management, including financial planning, trading, tax management, portfolio analytics, and retirement income planning. Envestnet serves a wide range of clients including registered investment advisors (RIAs), broker-dealers, banks, and other financial institutions. As of late 2024, the company's platform supports more than one-third of all U.S. financial advisors, 17 of the 20 largest U.S. banks, and 48 of the 50 largest wealth management and brokerage firms, overseeing nearly 20 million accounts with approximately $6 trillion in assets. The company was founded by Judson Bergman and went public on the NYSE in July 2010 under the ticker ENV. In November 2024, Envestnet was taken private through a $4.5 billion acquisition led by Bain Capital, with co-investors including BlackRock, Fidelity Investments, Franklin Templeton, and State Street Global Advisors. As of 2023, Envestnet reported annual revenue of approximately $1.245 billion and employed approximately 3,100 people.