What are your top accomplishments from the past year, and how did you accomplish them?
When Envestnet adapted its organizational structure last year, to place itself in a stronger position to create a premier Financial Wellness Network, I assumed responsibility for leading Envestnet | Tamarac, our premium platform solution for RIAs. When I started with Tamarac in 2008, we had five employees; today we have over 380 staff between our Seattle and Raleigh, N.C., offices, specifically supporting the Tamarac business.
Under my leadership, Envestnet | Tamarac rolled out a new portfolio management solution, PortfolioCenter Hosted, to streamline daily operations and enrich client reporting for smaller RIAs.
Envestnet acquired PortfolioCenter around the time we were evolving our broader organization, and one of my key objectives last year was to focus on providing PortfolioCenter’s existing users with elevated, best-in-class reporting insights through the Tamarac platform, along with high-touch support.
I also managed the integration of PortfolioCenter into the Tamarac offering, which significantly expands the audience of emerging RIAs that we can help to grow and scale their businesses within a secure cloud-based solution at an affordable price.
With the addition of PortfolioCenter, we added over 2,000 RIA firms to our growing Tamarac client base, totaling over 3,100 RIA clients managing over $1.2 trillion in collective assets. As a side note, the total client AUM was only $10 million when I started with the organization in 2006. My colleagues and I are proud to be able to provide smaller and emerging RIAs with a foundation to help deliver better outcomes, and financial wellness, to clients.
How can more women become part of WealthTech/innovation?
I encourage women to avoid limiting themselves to what they envision their careers will look like when they enter the workforce, and to think outside of the boundaries of their college major or previous employment history.
The financial services industry is extremely broad and continuously evolving, with different areas that cross over. There are many paths to explore. My background wasn’t in technology specifically — it was finance and marketing, so I never envisioned myself working for a WealthTech company.
Technological innovation has brought all areas of financial services closer together, so everything we learn and do can be applied to many parts of the industry.