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Financial Planning > Behavioral Finance

A Look at Envestnet’s Leaders and Acquisitions

By James J. Green

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The human capital issue is one of the most challenging facing the advisor community — finding successors to advisory firm founders and the related issue of attracting and retaining advisors who mirror the current gender, racial and ethnic diversity of the country (and advisors’ current and prospective client bases).

Envestnet’s own leadership has changed over the years. Founded in 1999 by current chairman and CEO Jud Bergman with colleagues including President Bill Crager, Executive Vice President James Lumberg and Brandon Thomas, CIO of Envestnet | PMC, the firm has added key members to its management team, partly through the acquisition of the companies they led, notably Lincoln Ross and Tim Clift from FundQuest, Gib Watson from Prima Capital, Stuart DePina from Tamarac and most recently Anil Arora from Yodlee.

In an interview in December 2016, Crager noted that Envestnet happens to be “one of the rare instances of a financial services company being run by two English majors” (himself and Bergman, who has a Columbia MBA while Crager double-majored in English and Economics), while “our COO [Josh Mayer] is a philosophy/theology major; he’s the best problem solver I’ve ever met in my life.”

Since its founding 18 years ago, Envestnet has grown organically in terms of number of advisors served, products and services offered and financial institutions as clients. It has also not been shy in acquiring other companies both before and after it went public in 2009. Here’s the list of acquisitions:

Envestnet Acquisitions Tamarac PMC Yodlee Wheelhouse Analytics

— Read All For One: Integration Driving Envestnet’s New Focus on ThinkAdvisor. 

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