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Envestnet

“Can a wealthtech platform and financial data aggregator become the unified financial intelligence and embedded-finance OS for financial advisors and institutions?”

Founded1999
HQBerwyn, PA (previously Chicago, IL)
FoundersJudson Bergman
Latest roundPublic (NYSE: ENV)
IndustryFintech / Investment
The story

Founded in 1999 as a turnkey asset management platform (TAMP) for independent financial advisors, Envestnet became a publicly traded wealthtech company and broadened its platform significantly. The 2015 acquisition of Yodlee transformed Envestnet into a data and open banking powerhouse — enabling financial data aggregation and analytics at scale beyond pure portfolio management. In recent years, Envestnet has layered lending (Credit Exchange), retirement (Retire Complete with Empower, Vestwell integration), and open banking/credit analytics (Credit Accelerator) onto its core advisory platform, positioning itself as the financial intelligence OS for advisors and financial institutions.

Last 12 months
2023-10
2023-09
Product timeline
1999
Founded as a wealth management technology platform for financial advisors.· pivot
2010
Envestnet went public on the New York Stock Exchange (NYSE: ENV).· ipo
2015
Acquired Yodlee, a leading financial data aggregation and open banking platform, for approximately $590M.· acquisition
2019
Launched the Envestnet Credit Exchange in partnership with Advisor Credit Exchange (ACE), integrating lending solutions into the wealth management platform.· lending
2020
Partnered with Vestwell to offer turnkey 401(k)/403(b) retirement plan solutions to advisors on the platform.· banking
2023
Envestnet | Yodlee launched Credit Accelerator, a lending data solution leveraging alternative data for more inclusive credit decisions, coinciding with CFPB's open banking rulemaking.· lending
2024
Announced partnership with Empower to launch Envestnet Retire Complete, a turnkey retirement solution for business-owner clients.· banking
Regulated entities
Registered Investment Adviser
US (SEC)
Envestnet Asset Management, Inc.
Registered Investment Adviser
US (SEC)
Envestnet Portfolio Solutions, Inc.
Registered Investment Adviser
US (SEC)
Envestnet Retirement Solutions, LLC
Registered Investment Adviser
US (SEC)
QRG Capital Management, Inc.
Registered Investment Adviser
US (SEC)
FDX Advisors, Inc.
The stack
Lending
Envestnet Credit Exchange (advisor-facilitated lending marketplace)Envestnet | Yodlee Credit Accelerator (lending data/analytics solution for lenders)
Open banking
Yodlee
Accounting
Certinia (FinancialForce)
Accounting gap: minor